Silicon Laboratories (NASDAQ:SLAB) Trading 6.4% Higher

Silicon Laboratories Inc. (NASDAQ:SLAB)’s stock price traded up 6.4% on Thursday . The stock traded as high as $121.62 and last traded at $121.58. 77,753 shares were traded during mid-day trading, a decline of 76% from the average session volume of 319,983 shares. The stock had previously closed at $114.26.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. TD Cowen decreased their target price on shares of Silicon Laboratories from $155.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday. Summit Insights lowered shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday. Needham & Company LLC upgraded shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a report on Thursday. Stifel Nicolaus upped their price objective on shares of Silicon Laboratories from $136.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Finally, Citigroup decreased their price objective on shares of Silicon Laboratories from $137.00 to $120.00 and set a “neutral” rating on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $135.00.

Silicon Laboratories Trading Up 2.7 %

The stock’s fifty day simple moving average is $133.57 and its 200-day simple moving average is $122.15.

Silicon Laboratories (NASDAQ:SLAB) last released its earnings results 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 for the quarter, compared to analyst estimates of $104.45 million. Silicon Laboratories had a negative return on equity of 4.45% and a negative net margin of 16.36%. Equities analysts predict that Silicon Laboratories Inc. will post -1.66 earnings per share for the current year.

Institutional Investors Weigh In On Silicon Laboratories

A number of large investors have recently modified their holdings of SLAB. Global Retirement Partners LLC increased its position in shares of Silicon Laboratories by 31.7% in the 3rd quarter. Global Retirement Partners LLC now owns 507 shares of the semiconductor company’s stock valued at $58,000 after purchasing an additional 122 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Silicon Laboratories in the 3rd quarter valued at approximately $380,000. Raymond James & Associates grew its position in shares of Silicon Laboratories by 14.2% in the 3rd quarter. Raymond James & Associates now owns 79,046 shares of the semiconductor company’s stock valued at $9,161,000 after buying an additional 9,845 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Silicon Laboratories by 20.0% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 733 shares of the semiconductor company’s stock valued at $85,000 after buying an additional 122 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Silicon Laboratories by 6.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,372 shares of the semiconductor company’s stock valued at $738,000 after buying an additional 403 shares during the last quarter.

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.