Barclays Cuts Silicon Laboratories (NASDAQ:SLAB) Price Target to $80.00

Silicon Laboratories (NASDAQ:SLAB) had its price objective trimmed by Barclays from $120.00 to $80.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the semiconductor company’s stock.

SLAB has been the topic of several other reports. Stifel Nicolaus dropped their price target on Silicon Laboratories from $145.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Benchmark reissued a “buy” rating and set a $160.00 target price on shares of Silicon Laboratories in a research note on Wednesday, March 12th. StockNews.com cut shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a report on Thursday, March 27th. Needham & Company LLC reiterated a “buy” rating and set a $150.00 price objective on shares of Silicon Laboratories in a report on Wednesday, March 12th. Finally, KeyCorp increased their price objective on shares of Silicon Laboratories from $115.00 to $160.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Silicon Laboratories has an average rating of “Hold” and a consensus target price of $129.70.

Silicon Laboratories Stock Performance

Shares of NASDAQ SLAB opened at $103.88 on Tuesday. The company’s 50 day moving average price is $117.68 and its 200-day moving average price is $121.04. Silicon Laboratories has a 52-week low of $82.82 and a 52-week high of $160.00. The company has a market capitalization of $3.37 billion, a P/E ratio of -17.49 and a beta of 1.33.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) EPS for the quarter, meeting analysts’ consensus estimates of ($0.11). Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. The business had revenue of $166.25 million for the quarter, compared to analysts’ expectations of $166.09 million. During the same quarter in the prior year, the firm posted ($1.19) earnings per share. The business’s quarterly revenue was up 91.4% compared to the same quarter last year. Analysts forecast that Silicon Laboratories will post -0.97 earnings per share for the current year.

Insider Activity at Silicon Laboratories

In related news, Director William G. Bock sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $149.43, for a total transaction of $149,430.00. Following the sale, the director now directly owns 31,115 shares in the company, valued at approximately $4,649,514.45. This represents a 3.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Navdeep S. Sooch sold 2,360 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total value of $351,640.00. Following the sale, the director now directly owns 400,567 shares in the company, valued at $59,684,483. This trade represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

Institutional Trading of Silicon Laboratories

A number of large investors have recently modified their holdings of SLAB. Jones Financial Companies Lllp increased its holdings in shares of Silicon Laboratories by 44.5% in the 4th quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company’s stock worth $28,000 after buying an additional 69 shares during the last quarter. UMB Bank n.a. raised its position in Silicon Laboratories by 111.3% during the first quarter. UMB Bank n.a. now owns 336 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 177 shares in the last quarter. Parallel Advisors LLC lifted its stake in Silicon Laboratories by 143.7% during the first quarter. Parallel Advisors LLC now owns 463 shares of the semiconductor company’s stock worth $52,000 after purchasing an additional 273 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Silicon Laboratories during the 4th quarter valued at about $70,000. Finally, Venturi Wealth Management LLC raised its holdings in shares of Silicon Laboratories by 207.0% during the 4th quarter. Venturi Wealth Management LLC now owns 786 shares of the semiconductor company’s stock valued at $98,000 after buying an additional 530 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.