Silicon Laboratories (NASDAQ:SLAB) Price Target Lowered to $150.00 at JPMorgan Chase & Co.

Silicon Laboratories (NASDAQ:SLAB) had its price target lowered by JPMorgan Chase & Co. from $165.00 to $150.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the semiconductor company’s stock.

Several other brokerages also recently weighed in on SLAB. StockNews.com downgraded Silicon Laboratories from a hold rating to a sell rating in a research report on Friday, December 29th. Summit Insights lowered Silicon Laboratories from a buy rating to a hold rating in a research note on Wednesday. Needham & Company LLC raised 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. Benchmark reissued a hold rating on shares of Silicon Laboratories in a research note on Thursday. Finally, Stifel Nicolaus lifted their price target on Silicon Laboratories from $136.00 to $155.00 and gave the company a buy rating in a research note on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and an average price target of $135.00.

Silicon Laboratories Stock Up 2.9 %

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

Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Wednesday, April 24th. The semiconductor company reported ($1.34) earnings per share (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 company had revenue of $106.38 million for the quarter, compared to analyst estimates of $104.45 million. Analysts anticipate that Silicon Laboratories will post -1.66 EPS for the current year.

Institutional Investors Weigh In On Silicon Laboratories

A number of hedge funds have recently added to or reduced their stakes in SLAB. Venturi Wealth Management LLC bought a new stake in Silicon Laboratories in the third quarter worth approximately $30,000. GAMMA Investing LLC bought a new stake in Silicon Laboratories in the fourth quarter worth approximately $36,000. Gladius Capital Management LP increased its holdings in Silicon Laboratories by 328.7% in the fourth quarter. Gladius Capital Management LP now owns 373 shares of the semiconductor company’s stock worth $49,000 after purchasing an additional 286 shares in the last quarter. CWM LLC increased its holdings in Silicon Laboratories by 78.1% in the fourth quarter. CWM LLC now owns 374 shares of the semiconductor company’s stock worth $49,000 after purchasing an additional 164 shares in the last quarter. Finally, Global Retirement Partners LLC increased its holdings in Silicon Laboratories by 31.7% in the third quarter. Global Retirement Partners LLC now owns 507 shares of the semiconductor company’s stock worth $58,000 after purchasing an additional 122 shares in the last quarter.

About Silicon Laboratories

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.