Silicon Laboratories (NASDAQ:SLAB) Trading Up 6.4%

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on SLAB shares. Summit Insights downgraded Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday. Barclays cut their price target on Silicon Laboratories from $140.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Thursday. TD Cowen cut their price target on Silicon Laboratories from $155.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday. Benchmark reaffirmed a “hold” rating on shares of Silicon Laboratories in a research report on Thursday. Finally, Stifel Nicolaus increased their price target on Silicon Laboratories from $136.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $138.50.

Silicon Laboratories Trading Up 4.1 %

The company’s fifty day moving average is $134.92 and its two-hundred day moving average is $122.17. The stock has a market cap of $3.79 billion, a price-to-earnings ratio of -104.11 and a beta of 1.27.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported ($1.34) EPS for the quarter, missing the consensus estimate 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 positive return on equity of 0.97% and a negative net margin of 4.41%. Analysts predict that Silicon Laboratories Inc. will post -1.66 EPS for the current year.

Institutional Investors Weigh In On Silicon Laboratories

Several institutional investors have recently modified their holdings of SLAB. Pathstone Holdings LLC purchased a new stake in shares of Silicon Laboratories during the 4th quarter worth $58,205,000. Capital Research Global Investors lifted its position in Silicon Laboratories by 73.9% in the fourth quarter. Capital Research Global Investors now owns 937,939 shares of the semiconductor company’s stock valued at $124,061,000 after acquiring an additional 398,489 shares during the last quarter. Norges Bank purchased a new stake in Silicon Laboratories in the fourth quarter valued at $28,907,000. Adage Capital Partners GP L.L.C. purchased a new stake in Silicon Laboratories in the third quarter valued at $24,453,000. Finally, Vanguard Group Inc. lifted its position in Silicon Laboratories by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 3,464,163 shares of the semiconductor company’s stock valued at $458,205,000 after acquiring an additional 179,131 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.