Silicon Laboratories (NASDAQ:SLAB) Shares Gap Down Following Weak Earnings

Silicon Laboratories Inc. (NASDAQ:SLAB)’s share price gapped down prior to trading on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $125.41, but opened at $122.02. Silicon Laboratories shares last traded at $118.04, with a volume of 232,021 shares changing hands.

The semiconductor company reported ($1.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.29) by ($0.05). The firm had revenue of $106.38 million during the quarter, compared to the consensus estimate of $104.45 million. Silicon Laboratories had a negative return on equity of 4.45% and a negative net margin of 16.36%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SLAB. Stifel Nicolaus lifted their price target on shares of Silicon Laboratories from $136.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, January 2nd. Summit Insights downgraded shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday. StockNews.com downgraded 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 target for the company in a research note on Thursday. Finally, Barclays decreased their price target on shares of Silicon Laboratories from $140.00 to $120.00 and set an “equal weight” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $135.00.

Hedge Funds Weigh In On Silicon Laboratories

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Silicon Laboratories by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 3,464,163 shares of the semiconductor company’s stock worth $458,205,000 after purchasing an additional 179,131 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of Silicon Laboratories by 73.9% during the fourth 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 during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Silicon Laboratories by 4.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 641,710 shares of the semiconductor company’s stock valued at $84,884,000 after buying an additional 28,759 shares during the last quarter. Van Berkom & Associates Inc. grew its holdings in shares of Silicon Laboratories by 36.2% during the third quarter. Van Berkom & Associates Inc. now owns 572,762 shares of the semiconductor company’s stock valued at $66,377,000 after buying an additional 152,269 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of Silicon Laboratories by 6.9% during the fourth quarter. Federated Hermes Inc. now owns 516,484 shares of the semiconductor company’s stock valued at $68,315,000 after buying an additional 33,357 shares during the last quarter.

Silicon Laboratories Trading Up 4.1 %

The business’s fifty day moving average price is $134.38 and its two-hundred day moving average price is $122.12.

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.