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

Benchmark reissued their hold rating on shares of Silicon Laboratories (NASDAQ:SLAB) in a report issued on Thursday morning, Benzinga reports.

A number of other research firms also recently commented on SLAB. Stifel Nicolaus increased their price objective on shares of Silicon Laboratories from $136.00 to $155.00 and gave the stock a buy rating in a research note on Tuesday, January 2nd. Summit Insights downgraded Silicon Laboratories from a buy rating to a hold rating in a research note on Wednesday, April 24th. StockNews.com cut Silicon Laboratories from a hold rating to a sell rating in a research note on Friday, December 29th. Needham & Company LLC raised shares of Silicon Laboratories from a hold rating to a buy rating and set a $150.00 target price for the company in a research note on Thursday. Finally, TD Cowen dropped their price target on shares of Silicon Laboratories from $155.00 to $145.00 and set a buy rating on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Silicon Laboratories presently has an average rating of Hold and an average price target of $135.00.

Silicon Laboratories Stock Performance

NASDAQ:SLAB opened at $122.13 on Thursday. The company has a market cap of $3.90 billion, a PE ratio of -36.90 and a beta of 1.27. The stock has a 50-day simple moving average of $133.57 and a 200 day simple moving average of $122.23. Silicon Laboratories has a 52-week low of $74.56 and a 52-week high of $166.94.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported ($1.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.29) by ($0.05). The business had revenue of $106.38 million during the quarter, compared to analyst estimates of $104.45 million. Silicon Laboratories had a negative net margin of 16.36% and a negative return on equity of 4.45%. On average, research analysts predict that Silicon Laboratories will post -1.66 earnings per share for the current fiscal year.

Institutional Trading of Silicon Laboratories

Hedge funds have recently modified their holdings of the stock. Louisiana State Employees Retirement System raised its holdings in Silicon Laboratories by 3.4% in the 1st quarter. Louisiana State Employees Retirement System now owns 9,200 shares of the semiconductor company’s stock valued at $1,322,000 after acquiring an additional 300 shares during the period. Raymond James & Associates grew its position in shares of Silicon Laboratories by 14.5% in the first quarter. Raymond James & Associates now owns 91,168 shares of the semiconductor company’s stock valued at $13,103,000 after purchasing an additional 11,548 shares during the last quarter. Berry Wealth Group LP bought a new position in shares of Silicon Laboratories during the first quarter worth approximately $201,000. State of Michigan Retirement System lifted its holdings in Silicon Laboratories by 2.6% during the 1st quarter. State of Michigan Retirement System now owns 7,797 shares of the semiconductor company’s stock worth $1,121,000 after purchasing an additional 200 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Silicon Laboratories by 12.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 62,397 shares of the semiconductor company’s stock valued at $8,968,000 after purchasing an additional 7,081 shares during the period.

Silicon Laboratories Company Profile

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.