Barclays Issues Positive Forecast for Silicon Laboratories (NASDAQ:SLAB) Stock Price

Silicon Laboratories (NASDAQ:SLAB) had its target price increased by Barclays from $75.00 to $120.00 in a report released on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the semiconductor company’s stock. Barclays‘s target price indicates a potential downside of 9.43% from the stock’s current price.

Other research analysts also recently issued reports about the company. Benchmark reaffirmed a “hold” rating on shares of Silicon Laboratories in a research note on Tuesday, November 5th. KeyCorp decreased their price target on shares of Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Morgan Stanley dropped their price objective on shares of Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Susquehanna began coverage on shares of Silicon Laboratories in a research report on Tuesday, December 17th. They set a “neutral” rating and a $130.00 target price for the company. Finally, JPMorgan Chase & Co. dropped their price target on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Silicon Laboratories presently has a consensus rating of “Hold” and an average target price of $128.56.

Silicon Laboratories Price Performance

Shares of NASDAQ:SLAB opened at $132.50 on Friday. The business’s 50-day moving average is $119.61 and its 200-day moving average is $114.69. Silicon Laboratories has a 1 year low of $94.00 and a 1 year high of $154.91. The company has a market capitalization of $4.30 billion, a price-to-earnings ratio of -17.91 and a beta of 1.17.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings results on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.07. The firm had revenue of $166.00 million for the quarter, compared to analysts’ expectations of $165.50 million. Silicon Laboratories had a negative return on equity of 12.60% and a negative net margin of 46.93%. The company’s revenue for the quarter was down 18.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.48 EPS. Analysts anticipate that Silicon Laboratories will post -3.56 EPS for the current year.

Hedge Funds Weigh In On Silicon Laboratories

Several hedge funds have recently modified their holdings of SLAB. Advisors Asset Management Inc. increased its position in shares of Silicon Laboratories by 159.4% during the third quarter. Advisors Asset Management Inc. now owns 275 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 169 shares during the last quarter. GAMMA Investing LLC grew its stake in Silicon Laboratories by 84.1% in the 3rd quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock valued at $57,000 after purchasing an additional 227 shares during the period. International Assets Investment Management LLC increased its position in shares of Silicon Laboratories by 11,457.1% during the 3rd quarter. International Assets Investment Management LLC now owns 809 shares of the semiconductor company’s stock valued at $93,000 after purchasing an additional 802 shares during the last quarter. Van ECK Associates Corp bought a new stake in shares of Silicon Laboratories during the 3rd quarter worth $189,000. Finally, nVerses Capital LLC purchased a new position in shares of Silicon Laboratories in the 3rd quarter worth about $196,000.

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.