Silicon Laboratories (NASDAQ:SLAB) Rating Lowered to Strong Sell at Zacks Research

Silicon Laboratories (NASDAQ:SLAB) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Silicon Laboratories in a report on Wednesday, June 24th. Five investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $218.00.

Silicon Laboratories Trading Down 0.0%

Shares of NASDAQ SLAB opened at $218.92 on Tuesday. The company has a market cap of $7.31 billion, a price-to-earnings ratio of -185.53 and a beta of 1.37. Silicon Laboratories has a 12 month low of $115.50 and a 12 month high of $220.90. The stock has a 50-day moving average price of $218.34 and a two-hundred day moving average price of $211.96.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings results on Tuesday, August 11th. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02. The company had revenue of $228.19 million during the quarter, compared to the consensus estimate of $227.99 million. Silicon Laboratories had a negative net margin of 4.57% and a negative return on equity of 0.66%. The company’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.11 earnings per share. On average, sell-side analysts predict that Silicon Laboratories will post 0.52 earnings per share for the current year.

Hedge Funds Weigh In On Silicon Laboratories

Hedge funds have recently bought and sold shares of the company. Harbor Investment Advisory LLC acquired a new position in Silicon Laboratories in the second quarter valued at $28,000. Allworth Financial LP acquired a new stake in Silicon Laboratories during the 2nd quarter worth about $42,000. EverSource Wealth Advisors LLC grew its holdings in Silicon Laboratories by 66.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 225 shares of the semiconductor company’s stock worth $47,000 after acquiring an additional 90 shares during the period. Kestra Advisory Services LLC bought a new position in shares of Silicon Laboratories in the 4th quarter worth about $32,000. Finally, Covestor Ltd raised its position in shares of Silicon Laboratories by 260.3% in the 4th quarter. Covestor Ltd now owns 281 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 203 shares in the last quarter.

About Silicon Laboratories

Silicon Laboratories (NASDAQ:SLAB) is a global semiconductor company that develops high-performance analog and mixed-signal integrated circuits, wireless system-on-chips (SoCs), microcontrollers, and radio frequency (RF) solutions. Its product portfolio is tailored to support the Internet of Things (IoT), infrastructure, industrial automation, consumer electronics, automotive, and energy markets. By combining silicon, software, and tools, Silicon Labs aims to accelerate development cycles and deliver low-power, highly integrated solutions that address demanding application requirements.

Founded in 1996 and headquartered in Austin, Texas, Silicon Labs has grown into a multinational organization with engineering and sales operations across North America, Europe, and Asia.