Silicon Laboratories (NASDAQ:SLAB) Price Target Cut to $120.00 by Analysts at Barclays

Silicon Laboratories (NASDAQ:SLAB) had its target price lowered by Barclays from $140.00 to $120.00 in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has an equal weight rating on the semiconductor company’s stock.

Several other brokerages also recently issued reports on SLAB. StockNews.com downgraded Silicon Laboratories from a hold rating to a sell rating in a report on Friday, December 29th. TD Cowen decreased their price objective on Silicon Laboratories from $155.00 to $145.00 and set a buy rating for the company in a report on Thursday. JPMorgan Chase & Co. decreased their price objective on Silicon Laboratories from $165.00 to $150.00 and set an overweight rating for the company in a report on Thursday. Benchmark reiterated a hold rating on shares of Silicon Laboratories in a report on Thursday. Finally, Needham & Company LLC upgraded Silicon Laboratories from a hold rating to a buy rating and set a $150.00 price objective for the company in a report on Thursday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and an average target price of $135.00.

Silicon Laboratories Stock Performance

NASDAQ:SLAB traded up $3.44 during mid-day trading on Thursday, hitting $122.37. The company had a trading volume of 303,564 shares, compared to its average volume of 327,090. Silicon Laboratories has a fifty-two week low of $74.56 and a fifty-two week high of $166.94. The business’s fifty day moving average is $134.38 and its two-hundred day moving average is $122.12. The firm has a market cap of $3.90 billion, a P/E ratio of -35.93 and a beta of 1.27.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported ($1.34) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $106.38 million during the quarter, compared to the consensus estimate of $104.45 million. Equities analysts forecast that Silicon Laboratories will post -1.66 earnings per share for the current year.

Institutional Trading of Silicon Laboratories

A number of hedge funds have recently made changes to their positions in SLAB. Venturi Wealth Management LLC acquired a new stake in Silicon Laboratories during the 3rd quarter worth approximately $30,000. GAMMA Investing LLC acquired a new stake in Silicon Laboratories during the 4th quarter worth approximately $36,000. Gladius Capital Management LP lifted its holdings in Silicon Laboratories by 328.7% during the 4th quarter. Gladius Capital Management LP now owns 373 shares of the semiconductor company’s stock worth $49,000 after purchasing an additional 286 shares during the last quarter. CWM LLC lifted its holdings in Silicon Laboratories by 78.1% during the 4th quarter. CWM LLC now owns 374 shares of the semiconductor company’s stock worth $49,000 after purchasing an additional 164 shares during the last quarter. Finally, Mather Group LLC. acquired a new stake in Silicon Laboratories during the 1st quarter worth approximately $63,000.

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.