Silicon Laboratories (NASDAQ:SLAB) Stock Rating Lowered by Summit Insights

Silicon Laboratories (NASDAQ:SLAB) was downgraded by research analysts at Summit Insights from a “buy” rating to a “hold” rating in a report released on Wednesday, FinViz reports.

SLAB has been the topic of a number of other research reports. TD Cowen raised their price target on Silicon Laboratories from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, February 8th. StockNews.com cut Silicon Laboratories from a “hold” rating to a “sell” rating in a report on Friday, December 29th. JPMorgan Chase & Co. raised their price target on Silicon Laboratories from $145.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Barclays lifted their price objective on Silicon Laboratories from $120.00 to $140.00 and gave the stock an “equal weight” rating in a report on Thursday, February 8th. Finally, Stifel Nicolaus boosted their price target on Silicon Laboratories from $136.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $143.29.

Silicon Laboratories Stock Performance

Shares of NASDAQ SLAB traded down $8.34 during mid-day trading on Wednesday, reaching $117.07. 306,328 shares of the company’s stock were exchanged, compared to its average volume of 308,426. The company’s 50-day moving average is $134.92 and its 200-day moving average is $122.17. Silicon Laboratories has a 52-week low of $74.56 and a 52-week high of $166.94. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of -104.18 and a beta of 1.27.

Silicon Laboratories (NASDAQ:SLAB) last posted its earnings results on Wednesday, February 7th. The semiconductor company reported ($1.46) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.91) by $0.45. The firm had revenue of $86.85 million for the quarter, compared to analyst estimates of $85.32 million. Silicon Laboratories had a positive return on equity of 0.97% and a negative net margin of 4.41%. As a group, equities analysts predict that Silicon Laboratories will post -1.66 earnings per share for the current fiscal year.

Institutional Trading of Silicon Laboratories

A number of hedge funds have recently modified their holdings of SLAB. Louisiana State Employees Retirement System increased its position in Silicon Laboratories by 3.4% during the first quarter. Louisiana State Employees Retirement System now owns 9,200 shares of the semiconductor company’s stock worth $1,322,000 after buying an additional 300 shares during the last quarter. Raymond James & Associates lifted its stake in Silicon Laboratories by 14.5% during the first quarter. Raymond James & Associates now owns 91,168 shares of the semiconductor company’s stock worth $13,103,000 after purchasing an additional 11,548 shares during the period. Berry Wealth Group LP bought a new position in Silicon Laboratories during the first quarter worth about $201,000. State of Michigan Retirement System lifted its stake in Silicon Laboratories by 2.6% during the first quarter. State of Michigan Retirement System now owns 7,797 shares of the semiconductor company’s stock worth $1,121,000 after purchasing an additional 200 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in Silicon Laboratories by 12.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 62,397 shares of the semiconductor company’s stock worth $8,968,000 after purchasing an additional 7,081 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.