Silicon Laboratories (NASDAQ:SLAB) Hits New 52-Week High – Should You Buy?

Shares of Silicon Laboratories Inc. (NASDAQ:SLAB) hit a new 52-week high during trading on Wednesday . The stock traded as high as $155.15 and last traded at $154.23, with a volume of 50027 shares changing hands. The stock had previously closed at $153.83.

Analysts Set New Price Targets

Several brokerages have commented on SLAB. KeyCorp raised their price target on shares of Silicon Laboratories from $115.00 to $160.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Needham & Company LLC raised their price target on shares of Silicon Laboratories from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. Susquehanna started coverage on shares of Silicon Laboratories in a research report on Tuesday, December 17th. They set a “neutral” rating and a $130.00 price objective for the company. StockNews.com cut shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a research report on Friday, February 14th. Finally, 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 report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $136.20.

Silicon Laboratories Stock Performance

The stock has a market cap of $5.11 billion, a PE ratio of -26.46 and a beta of 1.16. The firm’s 50-day moving average is $134.46 and its 200 day moving average is $118.84.

Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). The company had revenue of $166.25 million for the quarter, compared to the consensus estimate of $166.09 million. Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The company’s revenue was up 91.4% on a year-over-year basis. During the same period last year, the business posted ($1.19) EPS. On average, sell-side analysts predict that Silicon Laboratories Inc. will post -0.97 EPS for the current fiscal year.

Insider Activity at Silicon Laboratories

In related news, Director Navdeep S. Sooch sold 2,360 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total transaction of $351,640.00. Following the transaction, the director now owns 400,567 shares of the company’s stock, valued at $59,684,483. This represents a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William G. Bock sold 1,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $149.43, for a total value of $149,430.00. Following the completion of the transaction, the director now owns 31,115 shares of the company’s stock, valued at $4,649,514.45. The trade was a 3.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,360 shares of company stock worth $782,610 over the last 90 days. Company insiders own 1.72% of the company’s stock.

Hedge Funds Weigh In On Silicon Laboratories

A number of institutional investors and hedge funds have recently made changes to their positions in SLAB. Jones Financial Companies Lllp lifted its stake in shares of Silicon Laboratories by 44.5% in the fourth quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 69 shares during the period. Advisors Asset Management Inc. lifted its position in shares of Silicon Laboratories by 159.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 275 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 169 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Silicon Laboratories during the 4th quarter valued at approximately $70,000. International Assets Investment Management LLC boosted its stake in shares of Silicon Laboratories by 11,457.1% during the 3rd quarter. International Assets Investment Management LLC now owns 809 shares of the semiconductor company’s stock worth $93,000 after acquiring an additional 802 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in shares of Silicon Laboratories by 207.0% in the 4th quarter. Venturi Wealth Management LLC now owns 786 shares of the semiconductor company’s stock worth $98,000 after acquiring an additional 530 shares during the period.

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.