Silicon Laboratories (NASDAQ:SLAB) Price Target Cut to $145.00

Silicon Laboratories (NASDAQ:SLAB) had its price target cut by stock analysts at TD Cowen from $155.00 to $145.00 in a research report issued on Thursday, MarketBeat.com reports. The firm presently has a “buy” rating on the semiconductor company’s stock. TD Cowen’s price target would suggest a potential upside of 18.73% from the stock’s previous close.

A number of other research analysts also recently commented on the stock. Stifel Nicolaus upped their price objective on shares of Silicon Laboratories from $136.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, January 2nd. StockNews.com lowered shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a research report on Friday, December 29th. JPMorgan Chase & Co. increased their price target on shares of Silicon Laboratories from $145.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Needham & Company LLC raised shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a research note on Thursday. Finally, Barclays upped their price objective on Silicon Laboratories from $120.00 to $140.00 and gave the stock an “equal weight” rating in a report on Thursday, February 8th. One research 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. According to data from MarketBeat.com, Silicon Laboratories presently has a consensus rating of “Hold” and a consensus price target of $135.00.

Silicon Laboratories Stock Performance

Shares of SLAB opened at $122.13 on Thursday. Silicon Laboratories has a fifty-two week low of $74.56 and a fifty-two week high of $166.94. The company has a market capitalization of $3.90 billion, a PE ratio of -36.90 and a beta of 1.27. The stock has a fifty day moving average of $133.57 and a two-hundred day moving average of $122.15.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported ($1.34) EPS for the quarter, missing analysts’ consensus estimates of ($1.29) by ($0.05). The business had revenue of $106.38 million during the quarter, compared to analysts’ expectations of $104.45 million. Silicon Laboratories had a negative net margin of 16.36% and a negative return on equity of 4.45%. As a group, equities research analysts forecast that Silicon Laboratories will post -1.66 earnings per share for the current fiscal year.

Institutional Trading of Silicon Laboratories

Institutional investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC lifted its stake in shares of Silicon Laboratories by 31.7% during the third quarter. Global Retirement Partners LLC now owns 507 shares of the semiconductor company’s stock worth $58,000 after purchasing an additional 122 shares in the last quarter. SG Americas Securities LLC acquired a new position in Silicon Laboratories during the 3rd quarter worth approximately $380,000. Raymond James & Associates boosted its holdings in Silicon Laboratories by 14.2% in the 3rd quarter. Raymond James & Associates now owns 79,046 shares of the semiconductor company’s stock worth $9,161,000 after acquiring an additional 9,845 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its position in Silicon Laboratories by 20.0% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 733 shares of the semiconductor company’s stock valued at $85,000 after acquiring an additional 122 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Silicon Laboratories by 6.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,372 shares of the semiconductor company’s stock valued at $738,000 after acquiring an additional 403 shares in 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.