Benchmark Reiterates “Hold” Rating for Silicon Laboratories (NASDAQ:SLAB)

Silicon Laboratories (NASDAQ:SLAB)‘s stock had its “hold” rating restated by equities research analysts at Benchmark in a report released on Tuesday, Benzinga reports.

Other equities analysts have also issued reports about the stock. Stifel Nicolaus dropped their price target on shares of Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday. Barclays dropped their target price on shares of Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. decreased their price objective on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday. Needham & Company LLC reiterated a “buy” rating and set a $150.00 target price on shares of Silicon Laboratories in a research report on Thursday, July 25th. Finally, StockNews.com raised Silicon Laboratories to a “sell” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $121.50.

Silicon Laboratories Trading Up 10.8 %

Shares of SLAB opened at $115.70 on Tuesday. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of -15.64 and a beta of 1.20. The firm’s fifty day simple moving average is $112.29 and its 200-day simple moving average is $115.48. Silicon Laboratories has a twelve month low of $91.37 and a twelve month high of $154.91.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings results on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.07. The company had revenue of $166.00 million for the quarter, compared to analysts’ expectations of $165.50 million. Silicon Laboratories had a negative return on equity of 12.40% and a negative net margin of 46.93%. Silicon Laboratories’s quarterly revenue was down 18.5% on a year-over-year basis. During the same period last year, the firm earned $0.48 earnings per share. On average, analysts predict that Silicon Laboratories will post -3.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Silicon Laboratories

In other news, SVP Brandon Tolany sold 845 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $115.00, for a total value of $97,175.00. Following the transaction, the senior vice president now owns 43,615 shares of the company’s stock, valued at approximately $5,015,725. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.72% of the stock is owned by company insiders.

Hedge Funds Weigh In On Silicon Laboratories

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cullen Frost Bankers Inc. acquired a new stake in shares of Silicon Laboratories in the 2nd quarter worth $28,000. Fidelis Capital Partners LLC acquired a new stake in Silicon Laboratories in the first quarter valued at about $55,000. GAMMA Investing LLC boosted its holdings in Silicon Laboratories by 84.1% in the 3rd quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock valued at $57,000 after purchasing an additional 227 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in Silicon Laboratories during the 2nd quarter worth approximately $60,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Silicon Laboratories during the 2nd quarter worth approximately $82,000.

About Silicon Laboratories

Silicon Laboratories Inc, a fabless semiconductor company, provides various analog-intensive mixed-signal solutions in the United States, China, Taiwan, and internationally. The company's products include wireless microcontrollers and sensor products. Its products are used in various electronic products in a range of applications for the industrial Internet of Things (IoT), including industrial automation and control, smart buildings, access control, HVAC control, and industrial wearables and power tools; smart cities applications, such as smart metering, smart street lighting, renewable energy, electric vehicle supply equipment, and smart agriculture; commercial IoT applications, including smart lighting, asset tracking, electronic shelf labels, theft protection, and enterprise access points; smart home applications, comprising home automation/security systems, smart speakers, smart lighting, HVAC control, smart cameras, smart appliances, smart home sensing, smart locks, and window/blind controls; and connected health applications, including diabetes management, consumer health and fitness, elderly care, patient monitoring, and activity tracking; as well as in commercial building automation, consumer electronics, and medical instrumentation.