Silicon Laboratories, Inc. (NASDAQ:SLAB) Receives $218.00 Consensus Target Price from Analysts

Silicon Laboratories, Inc. (NASDAQ:SLAB) has earned an average rating of “Reduce” from the seven research firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $218.00.

Several equities research analysts have recently issued reports on the company. Zacks Research lowered Silicon Laboratories from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Wednesday, June 24th.

Silicon Laboratories Stock Down 0.3%

Shares of Silicon Laboratories stock opened at $219.15 on Tuesday. The business has a 50 day moving average price of $218.43 and a 200-day moving average price of $214.84. Silicon Laboratories has a 52 week low of $115.50 and a 52 week high of $222.49. The company has a market cap of $7.31 billion, a PE ratio of -185.72 and a beta of 1.36.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings data on Tuesday, August 11th. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The firm had revenue of $228.19 million for 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 business’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.11 EPS. As a group, research analysts anticipate that Silicon Laboratories will post 0.52 EPS for the current year.

Hedge Funds Weigh In On Silicon Laboratories

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLAB. Sequoia Financial Advisors LLC lifted its stake in shares of Silicon Laboratories by 191.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 3,539 shares of the semiconductor company’s stock valued at $773,000 after buying an additional 2,324 shares in the last quarter. Tidal Investments LLC raised its holdings in Silicon Laboratories by 99.1% during the 2nd quarter. Tidal Investments LLC now owns 4,936 shares of the semiconductor company’s stock valued at $1,079,000 after acquiring an additional 2,457 shares during the period. WINTON GROUP Ltd raised its holdings in Silicon Laboratories by 2.4% during the 2nd quarter. WINTON GROUP Ltd now owns 55,098 shares of the semiconductor company’s stock valued at $12,042,000 after acquiring an additional 1,272 shares during the period. Engineers Gate Manager LP lifted its position in shares of Silicon Laboratories by 45.6% during the second quarter. Engineers Gate Manager LP now owns 33,304 shares of the semiconductor company’s stock worth $7,279,000 after acquiring an additional 10,424 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its position in shares of Silicon Laboratories by 2.9% during the second quarter. Squarepoint Ops LLC now owns 114,521 shares of the semiconductor company’s stock worth $25,030,000 after acquiring an additional 3,231 shares in the last quarter.

Silicon Laboratories Company Profile

Silicon Laboratories Inc is a fabless semiconductor company focused on technologies that connect and control devices in the Internet of Things (IoT). The company develops integrated circuits, modules and software designed to help manufacturers build connected products for residential, commercial and industrial applications.

Its portfolio includes wireless system-on-chips, microcontrollers, connectivity modules and development tools supporting technologies such as Bluetooth, Wi-Fi, Zigbee, Thread, Matter and proprietary wireless protocols.