Silicon Laboratories (NASDAQ:SLAB) PT Lowered to $120.00 at Citigroup

Silicon Laboratories (NASDAQ:SLAB) had its target price reduced by Citigroup from $137.00 to $120.00 in a report issued on Thursday, Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

SLAB has been the topic of several other reports. Summit Insights cut Silicon Laboratories from a buy rating to a hold rating in a research note on Wednesday. TD Cowen lowered their price target on shares of Silicon Laboratories from $155.00 to $145.00 and set a buy rating for the company in a research report on Thursday. Barclays cut their price objective on Silicon Laboratories from $140.00 to $120.00 and set an equal weight rating for the company in a research report on Thursday. Benchmark reaffirmed a hold rating on shares of Silicon Laboratories in a research note on Thursday. Finally, Needham & Company LLC raised Silicon Laboratories from a hold rating to a buy rating and set a $150.00 price objective on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $135.00.

Silicon Laboratories Trading Up 2.9 %

SLAB stock traded up $3.44 during midday trading on Thursday, reaching $122.37. The company had a trading volume of 303,564 shares, compared to its average volume of 327,090. The company has a market capitalization of $3.90 billion, a P/E ratio of -35.93 and a beta of 1.27. Silicon Laboratories has a 1 year low of $74.56 and a 1 year high of $166.94. The company has a 50 day moving average of $134.38 and a two-hundred day moving average of $122.12.

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 the consensus estimate of $104.45 million. Silicon Laboratories had a negative return on equity of 4.45% and a negative net margin of 16.36%. On average, sell-side analysts anticipate that Silicon Laboratories will post -1.66 earnings per share for the current year.

Institutional Investors Weigh In On Silicon Laboratories

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