Silicon Laboratories (NASDAQ:SLAB) Price Target Cut to $150.00

Silicon Laboratories (NASDAQ:SLAB) had its target price lowered by equities research analysts at JPMorgan Chase & Co. from $165.00 to $150.00 in a report released on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 26.60% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Needham & Company LLC upgraded 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 report on Thursday. Barclays upped their price objective on shares of Silicon Laboratories from $120.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. TD Cowen lowered their price objective on shares of Silicon Laboratories from $155.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday. Benchmark restated a “hold” rating on shares of Silicon Laboratories in a research report on Thursday. Finally, Stifel Nicolaus upped 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. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Silicon Laboratories currently has a consensus rating of “Hold” and a consensus target price of $141.00.

Silicon Laboratories Trading Up 3.7 %

NASDAQ SLAB traded up $4.22 during trading on Thursday, reaching $118.48. The company’s stock had a trading volume of 345,477 shares, compared to its average volume of 323,414. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of -104.85 and a beta of 1.27. Silicon Laboratories has a 12 month low of $74.56 and a 12 month high of $166.94. The firm has a 50 day moving average price of $134.92 and a 200 day moving average price of $122.17.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported ($1.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.29) by ($0.05). Silicon Laboratories had a positive return on equity of 0.97% and a negative net margin of 4.41%. The firm had revenue of $106.38 million for the quarter, compared to the consensus estimate of $104.45 million. On average, equities analysts forecast that Silicon Laboratories will post -1.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Silicon Laboratories

A number of institutional investors have recently modified their holdings of SLAB. Global Retirement Partners LLC boosted its stake in shares of 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 purchasing an additional 122 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Silicon Laboratories in the 3rd quarter valued at $380,000. Raymond James & Associates boosted its stake in Silicon Laboratories by 14.2% during the third quarter. Raymond James & Associates now owns 79,046 shares of the semiconductor company’s stock worth $9,161,000 after acquiring an additional 9,845 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its stake in Silicon Laboratories by 20.0% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 733 shares of the semiconductor company’s stock worth $85,000 after acquiring an additional 122 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Silicon Laboratories by 6.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,372 shares of the semiconductor company’s stock worth $738,000 after acquiring an additional 403 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.