Summit Insights Lowers Silicon Laboratories (NASDAQ:SLAB) to Hold

Summit Insights downgraded shares of Silicon Laboratories (NASDAQ:SLAB) from a buy rating to a hold rating in a report released on Wednesday morning, Marketbeat Ratings reports.

Other equities analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. increased their price objective on shares of Silicon Laboratories from $145.00 to $165.00 and gave the stock an overweight rating in a research report on Thursday, February 8th. Barclays raised their price target on shares of Silicon Laboratories from $120.00 to $140.00 and gave the company an equal weight rating in a research report on Thursday, February 8th. StockNews.com cut shares of Silicon Laboratories from a hold rating to a sell rating in a research report on Friday, December 29th. Stifel Nicolaus raised their price target on shares of Silicon Laboratories from $136.00 to $155.00 and gave the company a buy rating in a research report on Tuesday, January 2nd. Finally, TD Cowen raised their price target on shares of Silicon Laboratories from $140.00 to $155.00 and gave the company an outperform rating in a research report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Silicon Laboratories has an average rating of Hold and an average target price of $135.00.

Silicon Laboratories Price Performance

SLAB stock opened at $122.13 on Wednesday. The stock has a market capitalization of $3.90 billion, a PE ratio of -36.90 and a beta of 1.27. The company’s 50-day moving average is $133.57 and its 200-day moving average is $122.15. Silicon Laboratories has a 1 year low of $74.56 and a 1 year high of $166.94.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings data 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 company had revenue of $106.38 million for 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%. On average, analysts anticipate that Silicon Laboratories will post -1.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Silicon Laboratories

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC purchased a new stake in Silicon Laboratories in the 3rd quarter valued at about $30,000. GAMMA Investing LLC purchased a new stake in Silicon Laboratories in the 4th quarter valued at about $36,000. Gladius Capital Management LP increased its stake in Silicon Laboratories by 328.7% in the 4th quarter. Gladius Capital Management LP now owns 373 shares of the semiconductor company’s stock valued at $49,000 after buying an additional 286 shares during the last quarter. CWM LLC increased its stake in Silicon Laboratories by 78.1% in the 4th quarter. CWM LLC now owns 374 shares of the semiconductor company’s stock valued at $49,000 after buying an additional 164 shares during the last quarter. Finally, Global Retirement Partners LLC increased its stake in Silicon Laboratories by 31.7% in the 3rd quarter. Global Retirement Partners LLC now owns 507 shares of the semiconductor company’s stock valued at $58,000 after buying an additional 122 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.