Stifel Nicolaus Has Lowered Expectations for Silicon Laboratories (NASDAQ:SLAB) Stock Price

Silicon Laboratories (NASDAQ:SLAB) had its price objective dropped by analysts at Stifel Nicolaus from $145.00 to $120.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 32.60% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. KeyCorp boosted their price target on Silicon Laboratories from $115.00 to $160.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Barclays boosted their target price on shares of Silicon Laboratories from $75.00 to $120.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. Benchmark reiterated a “buy” rating and set a $160.00 price target on shares of Silicon Laboratories in a research report on Wednesday, March 12th. Needham & Company LLC restated a “buy” rating and set a $150.00 target price on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Finally, StockNews.com cut Silicon Laboratories from a “hold” rating to a “sell” rating in a report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $133.70.

Silicon Laboratories Stock Performance

NASDAQ:SLAB opened at $90.50 on Thursday. Silicon Laboratories has a 52 week low of $82.82 and a 52 week high of $160.00. The firm’s 50-day simple moving average is $121.99 and its 200 day simple moving average is $121.56. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of -15.24 and a beta of 1.33.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. The company had revenue of $166.25 million during the quarter, compared to the consensus estimate of $166.09 million. During the same period in the previous year, the business earned ($1.19) earnings per share. The firm’s quarterly revenue was up 91.4% on a year-over-year basis. Sell-side analysts anticipate that Silicon Laboratories will post -0.97 EPS for the current year.

Insider Activity at Silicon Laboratories

In other news, Director Navdeep S. Sooch sold 2,360 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total value of $351,640.00. Following the completion of the sale, the director now owns 400,567 shares of the company’s stock, valued at approximately $59,684,483. This represents a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William G. Bock sold 1,000 shares of Silicon Laboratories stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $149.43, for a total value of $149,430.00. Following the completion of the transaction, the director now directly owns 31,115 shares in the company, valued at approximately $4,649,514.45. This represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,360 shares of company stock worth $782,610 over the last three months. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Silicon Laboratories

Several large investors have recently modified their holdings of SLAB. FMR LLC boosted its position in Silicon Laboratories by 0.5% during the fourth quarter. FMR LLC now owns 4,867,203 shares of the semiconductor company’s stock valued at $604,604,000 after acquiring an additional 23,833 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Silicon Laboratories by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 3,959,580 shares of the semiconductor company’s stock valued at $491,859,000 after purchasing an additional 71,942 shares in the last quarter. Capital Research Global Investors grew its stake in Silicon Laboratories by 23.3% during the fourth quarter. Capital Research Global Investors now owns 2,131,920 shares of the semiconductor company’s stock worth $264,827,000 after purchasing an additional 403,010 shares during the period. Geode Capital Management LLC increased its holdings in Silicon Laboratories by 2.1% in the third quarter. Geode Capital Management LLC now owns 781,049 shares of the semiconductor company’s stock worth $90,282,000 after purchasing an additional 15,728 shares in the last quarter. Finally, GW&K Investment Management LLC lifted its stake in Silicon Laboratories by 5.6% in the fourth quarter. GW&K Investment Management LLC now owns 682,045 shares of the semiconductor company’s stock valued at $84,723,000 after buying an additional 36,330 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.