Silicon Laboratories (NASDAQ:SLAB) PT Lowered to $150.00

Silicon Laboratories (NASDAQ:SLAB) had its price objective reduced by JPMorgan Chase & Co. from $165.00 to $150.00 in a research note issued to investors on Thursday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the semiconductor company’s stock.

Other equities analysts also recently issued reports about the company. 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. StockNews.com downgraded Silicon Laboratories from a hold rating to a sell rating in a research note on Friday, December 29th. TD Cowen dropped 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. Stifel Nicolaus lifted their target price on Silicon Laboratories from $136.00 to $155.00 and gave the company a buy rating in a research report on Tuesday, January 2nd. Finally, Barclays raised their price objective on Silicon Laboratories from $120.00 to $140.00 and gave the stock an equal weight rating in a research note on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of $135.00.

Silicon Laboratories Stock Up 2.9 %

Shares of Silicon Laboratories stock traded up $3.44 on Thursday, reaching $122.37. The company’s stock had a trading volume of 303,564 shares, compared to its average volume of 327,090. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of -35.93 and a beta of 1.27. The firm’s fifty day simple moving average is $134.38 and its two-hundred day simple moving average is $122.12. Silicon Laboratories has a 52 week low of $74.56 and a 52 week high of $166.94.

Silicon Laboratories (NASDAQ:SLAB) last released 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). The firm had revenue of $106.38 million during the quarter, compared to analysts’ expectations of $104.45 million. Silicon Laboratories had a negative return on equity of 4.45% and a negative net margin of 16.36%. As a group, research analysts predict that Silicon Laboratories will post -1.66 EPS for the current year.

Institutional Inflows and Outflows

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