Silicon Laboratories, Inc. (NASDAQ:SLAB) Stock Has Consensus Price Target of $218.00

Shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) have been assigned an average rating of “Reduce” from the seven ratings firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $218.00.

SLAB has been the subject of a number of recent research reports. Zacks Research cut shares of Silicon Laboratories from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Monday, September 21st.

Hedge Funds Weigh In On Silicon Laboratories

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of Silicon Laboratories during the second quarter valued at $1,135,435,000. HBK Investments L P purchased a new stake in Silicon Laboratories during the 2nd quarter worth about $218,560,000. Geode Capital Management LLC raised its stake in Silicon Laboratories by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 824,771 shares of the semiconductor company’s stock valued at $107,814,000 after purchasing an additional 7,921 shares during the last quarter. Pentwater Capital Management LP acquired a new position in Silicon Laboratories in the 2nd quarter valued at about $162,111,000. Finally, Westfield Capital Management Co. LP lifted its holdings in Silicon Laboratories by 59.9% in the 4th quarter. Westfield Capital Management Co. LP now owns 547,403 shares of the semiconductor company’s stock valued at $71,546,000 after purchasing an additional 205,093 shares in the last quarter.

Silicon Laboratories Stock Up 0.0%

Silicon Laboratories stock opened at $222.80 on Friday. The firm has a market capitalization of $7.43 billion, a PE ratio of -188.81 and a beta of 1.33. Silicon Laboratories has a 52 week low of $115.50 and a 52 week high of $223.50. The firm’s 50-day simple moving average is $219.53 and its 200 day simple moving average is $216.91.

Silicon Laboratories (NASDAQ:SLAB) last posted its earnings results on Tuesday, August 11th. The semiconductor company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. The firm 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 firm’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same period last year, the firm posted $0.11 EPS. On average, research analysts expect that Silicon Laboratories will post 0.52 EPS for the current fiscal year.

About Silicon Laboratories

Silicon Laboratories Inc is a fabless semiconductor company focused on wireless connectivity solutions for the Internet of Things (IoT). The company develops technologies that enable connected devices to communicate, sense, and operate efficiently across residential, commercial, industrial, and consumer applications.

Its product portfolio includes wireless system-on-chips, microcontrollers, modules, sensors, development kits, software, and development tools. Silicon Labs supports technologies and protocols such as Bluetooth, Wi-Fi, Zigbee, Thread, Matter, and proprietary sub-GHz wireless communications.