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

Silicon Laboratories, Inc. (NASDAQ:SLAB) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $211.72 and last traded at $211.37, with a volume of 33185 shares trading hands. The stock had previously closed at $211.22.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SLAB. Benchmark cut shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Citigroup lifted their target price on shares of Silicon Laboratories from $135.00 to $231.00 and gave the company a “neutral” rating in a research note on Friday, February 6th. KeyCorp cut shares of Silicon Laboratories from an “overweight” rating to a “hold” rating in a research note on Wednesday, February 4th. Royal Bank Of Canada lifted their price target on shares of Silicon Laboratories from $160.00 to $205.00 and gave the company a “sector perform” rating in a research report on Thursday, February 5th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $167.78.

Silicon Laboratories Stock Up 0.2%

The company has a market cap of $6.98 billion, a P/E ratio of -106.34 and a beta of 1.45. The stock’s 50-day moving average price is $203.27 and its 200 day moving average price is $158.77.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings results on Wednesday, February 4th. The semiconductor company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.02. Silicon Laboratories had a negative net margin of 8.27% and a negative return on equity of 4.07%. The company had revenue of $208.21 million for the quarter, compared to analyst estimates of $207.63 million. During the same quarter last year, the firm posted ($0.11) earnings per share. The company’s quarterly revenue was up 25.3% compared to the same quarter last year. Analysts expect that Silicon Laboratories, Inc. will post -0.97 earnings per share for the current fiscal year.

Insider Activity at Silicon Laboratories

In related news, Director Nina Richardson sold 1,355 shares of the business’s stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $149.00, for a total transaction of $201,895.00. Following the transaction, the director owned 8,543 shares of the company’s stock, valued at approximately $1,272,907. The trade was a 13.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Silicon Laboratories

Institutional investors and hedge funds have recently bought and sold shares of the stock. Kestra Advisory Services LLC bought a new position in Silicon Laboratories during the fourth quarter worth $32,000. First Horizon Corp bought a new position in Silicon Laboratories during the third quarter worth $35,000. EverSource Wealth Advisors LLC increased its position in Silicon Laboratories by 45.7% during the third quarter. EverSource Wealth Advisors LLC now owns 274 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 86 shares during the period. UMB Bank n.a. increased its position in Silicon Laboratories by 43.9% during the third quarter. UMB Bank n.a. now owns 282 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 86 shares during the period. Finally, Covestor Ltd increased its position in Silicon Laboratories by 260.3% during the fourth quarter. Covestor Ltd now owns 281 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 203 shares during the period.

Silicon Laboratories Company Profile

Silicon Laboratories (NASDAQ:SLAB) is a global semiconductor company that develops high-performance analog and mixed-signal integrated circuits, wireless system-on-chips (SoCs), microcontrollers, and radio frequency (RF) solutions. Its product portfolio is tailored to support the Internet of Things (IoT), infrastructure, industrial automation, consumer electronics, automotive, and energy markets. By combining silicon, software, and tools, Silicon Labs aims to accelerate development cycles and deliver low-power, highly integrated solutions that address demanding application requirements.

Founded in 1996 and headquartered in Austin, Texas, Silicon Labs has grown into a multinational organization with engineering and sales operations across North America, Europe, and Asia.