Barclays Trims Silicon Laboratories (NASDAQ:SLAB) Target Price to $120.00

Silicon Laboratories (NASDAQ:SLAB) had its target price cut by Barclays from $140.00 to $120.00 in a research note published on Thursday, Benzinga reports. They currently have an equal weight rating on the semiconductor company’s stock.

A number of other research analysts have also issued reports on SLAB. Stifel Nicolaus upped their price target on shares of Silicon Laboratories from $136.00 to $155.00 and gave the company a buy rating in a research note on Tuesday, January 2nd. Needham & Company LLC upgraded shares of Silicon Laboratories from a hold rating to a buy rating and set a $150.00 price target on the stock in a research note on Thursday. StockNews.com lowered shares of Silicon Laboratories from a hold rating to a sell rating in a research note on Friday, December 29th. JPMorgan Chase & Co. dropped their price objective on shares of Silicon Laboratories from $165.00 to $150.00 and set an overweight rating on the stock in a report on Thursday. Finally, Summit Insights downgraded shares of Silicon Laboratories from a buy rating to a hold rating in a report on Wednesday. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Silicon Laboratories currently has a consensus rating of Hold and an average target price of $135.00.

Silicon Laboratories Stock Up 2.9 %

Shares of NASDAQ SLAB traded up $3.44 during trading hours on Thursday, hitting $122.37. 303,564 shares of the stock were exchanged, compared to its average volume of 327,090. The company has a market cap of $3.90 billion, a PE ratio of -35.93 and a beta of 1.27. The firm has a fifty day moving average price of $134.38 and a 200-day moving average price of $122.12. Silicon Laboratories has a 12 month low of $74.56 and a 12 month high of $166.94.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported ($1.34) EPS for the quarter, missing the consensus estimate of ($1.29) by ($0.05). Silicon Laboratories had a negative return on equity of 4.45% and a negative net margin of 16.36%. The firm had revenue of $106.38 million for the quarter, compared to the consensus estimate of $104.45 million. As a group, equities analysts anticipate that Silicon Laboratories will post -1.66 earnings per share for the current fiscal year.

Institutional Trading of Silicon Laboratories

Hedge funds have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System lifted its holdings in Silicon Laboratories by 3.4% during the first quarter. Louisiana State Employees Retirement System now owns 9,200 shares of the semiconductor company’s stock valued at $1,322,000 after purchasing an additional 300 shares in the last quarter. Raymond James & Associates lifted its holdings in Silicon Laboratories by 14.5% during the first quarter. Raymond James & Associates now owns 91,168 shares of the semiconductor company’s stock valued at $13,103,000 after purchasing an additional 11,548 shares in the last quarter. Berry Wealth Group LP purchased a new position in Silicon Laboratories during the first quarter valued at $201,000. State of Michigan Retirement System lifted its holdings in Silicon Laboratories by 2.6% during the first quarter. State of Michigan Retirement System now owns 7,797 shares of the semiconductor company’s stock valued at $1,121,000 after purchasing an additional 200 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Silicon Laboratories by 12.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 62,397 shares of the semiconductor company’s stock valued at $8,968,000 after purchasing an additional 7,081 shares in the last quarter.

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.