TD Cowen Cuts Silicon Laboratories (NASDAQ:SLAB) Price Target to $145.00

Silicon Laboratories (NASDAQ:SLAB) had its target price cut by TD Cowen from $155.00 to $145.00 in a research report report published on Thursday morning, MarketBeat reports. They currently have a buy rating on the semiconductor company’s stock.

Several other research firms have also issued reports on SLAB. JPMorgan Chase & Co. raised their price target on shares of Silicon Laboratories from $145.00 to $165.00 and gave the stock an overweight rating in a research report on Thursday, February 8th. Stifel Nicolaus lifted their target price on Silicon Laboratories from $136.00 to $155.00 and gave the stock a buy rating in a research report on Tuesday, January 2nd. Needham & Company LLC upgraded 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. Barclays raised their price objective on Silicon Laboratories from $120.00 to $140.00 and gave the stock an equal weight rating in a research report on Thursday, February 8th. Finally, StockNews.com lowered Silicon Laboratories from a hold rating to a sell rating in a report on Friday, December 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average target price of $135.00.

Silicon Laboratories Stock Performance

NASDAQ SLAB opened at $118.93 on Thursday. The stock has a 50-day simple moving average of $134.38 and a 200 day simple moving average of $122.12. Silicon Laboratories has a twelve month low of $74.56 and a twelve month high of $166.94. The stock has a market capitalization of $3.80 billion, a PE ratio of -35.93 and a beta of 1.27.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported ($1.34) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $106.38 million for the quarter, compared to analyst estimates of $104.45 million. As a group, equities research analysts forecast that Silicon Laboratories will post -1.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Silicon Laboratories

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Park Avenue Securities LLC bought a new position in shares of Silicon Laboratories during the third quarter worth $339,000. Federated Hermes Inc. lifted its holdings in Silicon Laboratories by 6.9% during the fourth quarter. Federated Hermes Inc. now owns 516,484 shares of the semiconductor company’s stock worth $68,315,000 after acquiring an additional 33,357 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Silicon Laboratories in the third quarter worth about $30,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Silicon Laboratories in the third quarter worth about $3,652,000. Finally, Envestnet Asset Management Inc. raised its position in shares of Silicon Laboratories by 37.2% during the third quarter. Envestnet Asset Management Inc. now owns 90,289 shares of the semiconductor company’s stock worth $10,464,000 after purchasing an additional 24,468 shares during the period.

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.