Analysts Set Silicon Laboratories Inc. (NASDAQ:SLAB) Price Target at $143.29

Shares of Silicon Laboratories Inc. (NASDAQ:SLAB) have been assigned an average rating of “Moderate Buy” from the eight research firms that are covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $143.29.

Several analysts recently issued reports on SLAB shares. StockNews.com downgraded Silicon Laboratories from a “hold” rating to a “sell” rating in a report on Friday, December 29th. JPMorgan Chase & Co. increased their price target on Silicon Laboratories from $145.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Stifel Nicolaus raised their target price on Silicon Laboratories from $136.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, January 2nd. TD Cowen raised their target price on Silicon Laboratories from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, February 8th. Finally, Barclays raised their target price on Silicon Laboratories from $120.00 to $140.00 and gave the company an “equal weight” rating in a research note on Thursday, February 8th.

Hedge Funds Weigh In On Silicon Laboratories

Several large investors have recently modified their holdings of SLAB. Pathstone Holdings LLC bought a new position in shares of Silicon Laboratories during the fourth quarter worth about $58,205,000. Capital Research Global Investors lifted its position in shares of Silicon Laboratories by 73.9% during the fourth quarter. Capital Research Global Investors now owns 937,939 shares of the semiconductor company’s stock worth $124,061,000 after purchasing an additional 398,489 shares during the last quarter. Norges Bank bought a new position in shares of Silicon Laboratories during the fourth quarter worth about $28,907,000. Adage Capital Partners GP L.L.C. bought a new position in shares of Silicon Laboratories during the third quarter worth about $24,453,000. Finally, Vanguard Group Inc. lifted its position in shares of Silicon Laboratories by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 3,464,163 shares of the semiconductor company’s stock worth $458,205,000 after purchasing an additional 179,131 shares during the last quarter.

Silicon Laboratories Trading Up 3.4 %

Shares of NASDAQ SLAB opened at $119.12 on Tuesday. Silicon Laboratories has a 12-month low of $74.56 and a 12-month high of $168.22. The company has a market cap of $3.80 billion, a P/E ratio of -105.41 and a beta of 1.27. The stock has a fifty day moving average price of $135.14 and a 200 day moving average price of $122.10.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings results on Wednesday, February 7th. The semiconductor company reported ($1.46) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.91) by $0.45. Silicon Laboratories had a positive return on equity of 0.97% and a negative net margin of 4.41%. The firm had revenue of $86.85 million during the quarter, compared to the consensus estimate of $85.32 million. On average, sell-side analysts forecast that Silicon Laboratories will post -1.66 EPS for the current fiscal year.

Silicon Laboratories Company Profile

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.