Morgan Stanley Cuts Silicon Laboratories (NASDAQ:SLAB) Price Target to $97.00

Silicon Laboratories (NASDAQ:SLAB) had its price target lowered by Morgan Stanley from $123.00 to $97.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the semiconductor company’s stock.

SLAB has been the topic of several other research reports. KeyCorp reduced their price target on shares of Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. lowered their price target on Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday. StockNews.com upgraded Silicon Laboratories to a “sell” rating in a research report on Wednesday, October 30th. Barclays dropped their target price on shares of Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating for the company in a report on Tuesday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $150.00 price objective on shares of Silicon Laboratories in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $121.50.

Silicon Laboratories Stock Performance

SLAB stock opened at $112.10 on Tuesday. Silicon Laboratories has a 52 week low of $92.55 and a 52 week high of $154.91. The company has a market capitalization of $3.64 billion, a PE ratio of -15.15 and a beta of 1.20. The company’s 50-day simple moving average is $112.09 and its 200 day simple moving average is $115.42.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings data on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.07. Silicon Laboratories had a negative return on equity of 12.60% and a negative net margin of 46.93%. The firm had revenue of $166.00 million during the quarter, compared to analysts’ expectations of $165.50 million. During the same period in the previous year, the firm earned $0.48 EPS. The company’s quarterly revenue was down 18.5% compared to the same quarter last year. On average, analysts forecast that Silicon Laboratories will post -3.41 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Brandon Tolany sold 845 shares of Silicon Laboratories stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $115.00, for a total transaction of $97,175.00. Following the transaction, the senior vice president now owns 43,615 shares in the company, valued at approximately $5,015,725. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.72% of the company’s stock.

Hedge Funds Weigh In On Silicon Laboratories

A number of hedge funds have recently made changes to their positions in the stock. CWM LLC raised its holdings in Silicon Laboratories by 185.0% during the 2nd quarter. CWM LLC now owns 8,435 shares of the semiconductor company’s stock worth $933,000 after purchasing an additional 5,475 shares during the last quarter. Natixis acquired a new stake in shares of Silicon Laboratories during the first quarter worth $647,000. Vanguard Group Inc. raised its stake in Silicon Laboratories by 0.7% during the first quarter. Vanguard Group Inc. now owns 3,489,160 shares of the semiconductor company’s stock worth $501,462,000 after buying an additional 24,997 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Silicon Laboratories by 284.6% in the second quarter. SG Americas Securities LLC now owns 7,076 shares of the semiconductor company’s stock valued at $783,000 after buying an additional 5,236 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in Silicon Laboratories by 31.7% during the first quarter. Russell Investments Group Ltd. now owns 52,578 shares of the semiconductor company’s stock valued at $7,557,000 after acquiring an additional 12,667 shares during 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.