Silicon Laboratories (NASDAQ:SLAB) PT Lowered to $120.00

Silicon Laboratories (NASDAQ:SLAB) had its price objective cut by stock analysts at Barclays from $140.00 to $120.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the semiconductor company’s stock. Barclays‘s target price would indicate a potential downside of 1.74% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. StockNews.com cut shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. 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. Stifel Nicolaus lifted their price objective on shares of Silicon Laboratories from $136.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, January 2nd. Benchmark reissued a “hold” rating on shares of Silicon Laboratories in a research note on Thursday. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Silicon Laboratories from $165.00 to $150.00 and set an “overweight” rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $135.00.

Silicon Laboratories Stock Performance

SLAB opened at $122.13 on Thursday. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of -36.90 and a beta of 1.27. The company has a fifty day moving average of $133.57 and a 200 day moving average of $122.15. Silicon Laboratories has a fifty-two week low of $74.56 and a fifty-two week high of $166.94.

Silicon Laboratories (NASDAQ:SLAB) last posted its earnings results on Wednesday, April 24th. The semiconductor company reported ($1.34) earnings per share for the quarter, missing the consensus estimate of ($1.29) by ($0.05). The company had revenue of $106.38 million for 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%. On average, equities research analysts forecast that Silicon Laboratories will post -1.66 earnings per share for the current year.

Hedge Funds Weigh In On Silicon Laboratories

A number of large investors have recently made changes to their positions in SLAB. Pathstone Holdings LLC purchased a new position in shares of Silicon Laboratories during the 4th quarter worth about $58,205,000. Capital Research Global Investors lifted its holdings in Silicon Laboratories by 73.9% during the 4th quarter. Capital Research Global Investors now owns 937,939 shares of the semiconductor company’s stock valued at $124,061,000 after buying an additional 398,489 shares in the last quarter. Norges Bank bought a new stake in Silicon Laboratories during the 4th quarter valued at about $28,907,000. Adage Capital Partners GP L.L.C. bought a new stake in Silicon Laboratories during the 3rd quarter valued at about $24,453,000. Finally, Vanguard Group Inc. lifted its holdings in Silicon Laboratories by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 3,464,163 shares of the semiconductor company’s stock valued at $458,205,000 after buying an additional 179,131 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.