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

Silicon Laboratories, Inc. (NASDAQ:SLAB) has been assigned a consensus rating of “Reduce” from the seven ratings firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $218.00.

Several research firms have commented on SLAB. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Silicon Laboratories in a research note on Monday, September 21st. Zacks Research upgraded Silicon Laboratories from a “strong sell” rating to a “hold” rating in a report on Monday, October 12th. Finally, Wall Street Zen upgraded Silicon Laboratories to a “hold” rating in a report on Saturday, October 10th.

Hedge Funds Weigh In On Silicon Laboratories

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in Silicon Laboratories during the second quarter valued at about $1,135,435,000. HBK Investments L P purchased a new position in shares of Silicon Laboratories in the 2nd quarter worth about $218,560,000. Pentwater Capital Management LP purchased a new position in shares of Silicon Laboratories in the 2nd quarter worth about $162,111,000. Hsbc Holdings PLC acquired a new position in shares of Silicon Laboratories in the 2nd quarter valued at about $67,455,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Silicon Laboratories in the 2nd quarter valued at about $45,699,000.

Silicon Laboratories Stock Performance

Silicon Laboratories stock opened at $222.45 on Wednesday. The stock has a fifty day moving average of $220.75 and a two-hundred day moving average of $210.22. Silicon Laboratories has a fifty-two week low of $115.50 and a fifty-two week high of $223.50. The company has a market capitalization of $7.42 billion, a price-to-earnings ratio of -188.52 and a beta of 1.33.

Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Tuesday, August 11th. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $228.19 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 18.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.11 EPS. On average, analysts forecast that Silicon Laboratories will post 0.52 EPS for the current fiscal year.

Silicon Laboratories Company Profile

Silicon Laboratories Inc is a fabless semiconductor company that develops technologies for the Internet of Things (IoT). The company provides integrated circuits, wireless modules, software and development tools that help manufacturers connect, monitor and control devices used in residential, commercial and industrial applications.

Its product portfolio includes wireless system-on-chip devices and modules supporting technologies such as Bluetooth, Wi-Fi, Zigbee, Thread, Matter, Z-Wave and proprietary sub-GHz protocols.