Benchmark Reaffirms Hold Rating for Silicon Laboratories (NASDAQ:SLAB)

Benchmark reissued their hold rating on shares of Silicon Laboratories (NASDAQ:SLAB) in a research report sent to investors on Thursday morning, Benzinga reports.

Several other research firms also recently weighed in on SLAB. Summit Insights downgraded Silicon Laboratories from a buy rating to a hold rating in a research report on Wednesday. StockNews.com lowered Silicon Laboratories from a hold rating to a sell rating in a research note on Friday, December 29th. Needham & Company LLC upgraded Silicon Laboratories from a hold rating to a buy rating and set a $150.00 price target on the stock in a research note on Thursday. JPMorgan Chase & Co. raised their price target on Silicon Laboratories from $145.00 to $165.00 and gave the company an overweight rating in a research note on Thursday, February 8th. Finally, TD Cowen cut their price target on Silicon Laboratories from $155.00 to $145.00 and set a buy rating on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $135.00.

Silicon Laboratories Stock Up 2.7 %

Shares of SLAB opened at $122.13 on Thursday. The company has a market cap of $3.90 billion, a PE ratio of -36.90 and a beta of 1.27. The business has a fifty day moving average of $133.57 and a 200 day moving average of $122.19. Silicon Laboratories has a 52-week low of $74.56 and a 52-week high of $166.94.

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

Hedge Funds Weigh In On Silicon Laboratories

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Park Avenue Securities LLC purchased a new position in Silicon Laboratories in the third quarter valued at about $339,000. Federated Hermes Inc. grew its stake in Silicon Laboratories by 6.9% in the fourth quarter. Federated Hermes Inc. now owns 516,484 shares of the semiconductor company’s stock valued at $68,315,000 after purchasing an additional 33,357 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in Silicon Laboratories in the third quarter valued at about $30,000. Schonfeld Strategic Advisors LLC purchased a new position in Silicon Laboratories in the third quarter valued at about $3,652,000. Finally, Envestnet Asset Management Inc. grew its stake in Silicon Laboratories by 37.2% in the third quarter. Envestnet Asset Management Inc. now owns 90,289 shares of the semiconductor company’s stock valued at $10,464,000 after purchasing an additional 24,468 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.