Summit Insights Downgrades Silicon Laboratories (NASDAQ:SLAB) to Hold

Summit Insights cut shares of Silicon Laboratories (NASDAQ:SLAB) from a buy rating to a hold rating in a research report report published on Wednesday morning, MarketBeat.com reports.

SLAB has been the topic of several other reports. 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 report on Tuesday, January 2nd. JPMorgan Chase & Co. upped their price target on shares of Silicon Laboratories from $145.00 to $165.00 and gave the company an overweight rating in a report on Thursday, February 8th. StockNews.com cut shares of Silicon Laboratories from a hold rating to a sell rating in a report on Friday, December 29th. Barclays upped their price target on shares of Silicon Laboratories from $120.00 to $140.00 and gave the company an equal weight rating in a report on Thursday, February 8th. Finally, TD Cowen increased their target price on shares of Silicon Laboratories from $140.00 to $155.00 and gave the stock an outperform rating in a report on Thursday, February 8th. One equities research 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 data from MarketBeat.com, Silicon Laboratories has a consensus rating of Hold and an average target price of $135.00.

Silicon Laboratories Trading Up 2.7 %

Shares of SLAB stock opened at $122.13 on Wednesday. The company has a market capitalization of $3.90 billion, a PE ratio of -36.90 and a beta of 1.27. The firm has a fifty day simple moving average of $133.57 and a 200-day simple moving average of $122.19. Silicon Laboratories has a twelve month low of $74.56 and a twelve month high of $166.94.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly 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). The company had revenue of $106.38 million during the quarter, compared to analyst estimates of $104.45 million. Silicon Laboratories had a negative net margin of 16.36% and a negative return on equity of 4.45%. Equities research analysts predict that Silicon Laboratories will post -1.66 EPS for the current year.

Institutional Trading of Silicon Laboratories

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings 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 period. Capital Research Global Investors increased its holdings in shares of Silicon Laboratories by 73.9% in the 4th quarter. Capital Research Global Investors now owns 937,939 shares of the semiconductor company’s stock worth $124,061,000 after acquiring an additional 398,489 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Silicon Laboratories by 4.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 641,710 shares of the semiconductor company’s stock worth $84,884,000 after acquiring an additional 28,759 shares during the period. Van Berkom & Associates Inc. increased its holdings in shares of Silicon Laboratories by 36.2% in the 3rd quarter. Van Berkom & Associates Inc. now owns 572,762 shares of the semiconductor company’s stock worth $66,377,000 after acquiring an additional 152,269 shares during the period. Finally, Federated Hermes Inc. increased its holdings in shares of Silicon Laboratories by 6.9% in the 4th 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 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.