Silicon Laboratories Inc. (NASDAQ:SLAB) Receives Average Rating of “Hold” from Brokerages

Shares of Silicon Laboratories Inc. (NASDAQ:SLAB) have been given an average recommendation of “Hold” by the eleven analysts that are presently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $128.56.

SLAB has been the topic of several research reports. Barclays upped their price objective on shares of Silicon Laboratories from $75.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday. Benchmark reaffirmed a “hold” rating on shares of Silicon Laboratories in a research note on Tuesday, November 5th. JPMorgan Chase & Co. reduced their price objective on Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Morgan Stanley lowered their target price on Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. Finally, Stifel Nicolaus lifted their price target on shares of Silicon Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, January 6th.

Institutional Trading of Silicon Laboratories

Several institutional investors have recently made changes to their positions in SLAB. Victory Capital Management Inc. grew its position in Silicon Laboratories by 2.3% in the 2nd quarter. Victory Capital Management Inc. now owns 6,638 shares of the semiconductor company’s stock worth $734,000 after purchasing an additional 150 shares in the last quarter. Daiwa Securities Group Inc. purchased a new position in shares of Silicon Laboratories in the 2nd quarter worth approximately $60,000. American Century Companies Inc. grew its holdings in shares of Silicon Laboratories by 29.5% in the second quarter. American Century Companies Inc. now owns 316,407 shares of the semiconductor company’s stock valued at $35,004,000 after acquiring an additional 72,138 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Silicon Laboratories by 16.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 7,183 shares of the semiconductor company’s stock valued at $795,000 after acquiring an additional 1,017 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Silicon Laboratories by 15.6% during the second quarter. Envestnet Asset Management Inc. now owns 110,375 shares of the semiconductor company’s stock worth $12,211,000 after acquiring an additional 14,877 shares during the period.

Silicon Laboratories Stock Up 1.7 %

Shares of Silicon Laboratories stock opened at $134.75 on Thursday. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of -18.21 and a beta of 1.17. Silicon Laboratories has a twelve month low of $94.00 and a twelve month high of $154.91. The company’s fifty day moving average is $120.59 and its 200 day moving average is $115.08.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings results on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.07. Silicon Laboratories had a negative net margin of 46.93% and a negative return on equity of 12.60%. The firm had revenue of $166.00 million during the quarter, compared to analyst estimates of $165.50 million. During the same quarter last year, the business earned $0.48 EPS. The company’s revenue was down 18.5% compared to the same quarter last year. As a group, equities analysts anticipate that Silicon Laboratories will post -3.56 earnings per share for the current fiscal year.

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.