Silicon Laboratories (SLAB) Receives a Rating Update from a Top Analyst

In a report released today, Tore Svanberg from Stifel Nicolaus maintained a Buy rating on Silicon Laboratories, with a price target of $160.00. The company’s shares closed yesterday at $135.52.

Elevate Your Investing Strategy:

• Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

Svanberg covers the Technology sector, focusing on stocks such as Cirrus Logic, Ambarella, and Maxlinear. According to TipRanks, Svanberg has an average return of 22.9% and a 62.90% success rate on recommended stocks.

Silicon Laboratories has an analyst consensus of Moderate Buy, with a price target consensus of $147.89.

Based on Silicon Laboratories’ latest earnings release for the quarter ending July 5, the company reported a quarterly revenue of $192.85 million and a GAAP net loss of $21.82 million. In comparison, last year the company earned a revenue of $145.37 million and had a GAAP net loss of $82.16 million

Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SLAB in relation to earlier this year. Earlier this month, Brandon Tolany, the Sr VP WW Sales & Marketing of SLAB sold 1,800.00 shares for a total of $240,426.00.