Silicon Laboratories (NASDAQ:SLAB) Downgraded by Summit Insights

Silicon Laboratories (NASDAQ:SLAB) was downgraded by equities research analysts at Summit Insights from a “buy” rating to a “hold” rating in a report released on Wednesday, MarketBeat Ratings reports.

A number of other analysts have also commented on SLAB. StockNews.com lowered shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a research report on Friday, December 29th. Barclays boosted their price objective on shares of Silicon Laboratories from $120.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. Stifel Nicolaus boosted their price objective on shares of Silicon Laboratories from $136.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, January 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Silicon Laboratories from $145.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Finally, TD Cowen upped their price target on shares of Silicon Laboratories from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $135.00.

Silicon Laboratories Stock Performance

Shares of NASDAQ SLAB opened at $118.93 on Wednesday. The stock has a market cap of $3.79 billion, a P/E ratio of -105.25 and a beta of 1.27. The firm has a 50 day moving average price of $134.38 and a 200 day moving average price of $122.12. Silicon Laboratories has a 52-week low of $74.56 and a 52-week high of $166.94.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported ($1.34) earnings per share for the quarter, missing the consensus estimate of ($1.29) by ($0.05). The company had revenue of $106.38 million during the quarter, compared to analyst estimates of $104.45 million. Silicon Laboratories had a negative net margin of 4.41% and a positive return on equity of 0.97%. Analysts predict that Silicon Laboratories will post -1.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Silicon Laboratories

Several large investors have recently modified their holdings of the stock. Louisiana State Employees Retirement System grew its stake in shares of Silicon Laboratories by 3.4% in the first quarter. Louisiana State Employees Retirement System now owns 9,200 shares of the semiconductor company’s stock valued at $1,322,000 after acquiring an additional 300 shares in the last quarter. Raymond James & Associates grew its stake in shares of Silicon Laboratories by 14.5% in the first quarter. Raymond James & Associates now owns 91,168 shares of the semiconductor company’s stock valued at $13,103,000 after acquiring an additional 11,548 shares in the last quarter. Berry Wealth Group LP acquired a new position in shares of Silicon Laboratories in the first quarter valued at about $201,000. State of Michigan Retirement System grew its stake in shares of Silicon Laboratories by 2.6% in the first quarter. State of Michigan Retirement System now owns 7,797 shares of the semiconductor company’s stock valued at $1,121,000 after acquiring an additional 200 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Silicon Laboratories by 12.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 62,397 shares of the semiconductor company’s stock valued at $8,968,000 after acquiring an additional 7,081 shares in the last quarter.

Silicon Laboratories Company Profile

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.