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

Silicon Laboratories (NASDAQ:SLAB) had its price objective decreased by Citigroup from $137.00 to $120.00 in a research note released on Thursday, Benzinga reports. Citigroup currently has a neutral rating on the semiconductor company’s stock.

SLAB has been the subject of a number of other reports. Barclays decreased their price target on shares of Silicon Laboratories from $140.00 to $120.00 and set an equal weight rating for the company in a report on Thursday. JPMorgan Chase & Co. lowered their price objective on Silicon Laboratories from $165.00 to $150.00 and set an overweight rating on the stock in a research report on Thursday. Stifel Nicolaus raised their price target on shares of Silicon Laboratories from $136.00 to $155.00 and gave the stock a buy rating in a research note on Tuesday, January 2nd. Needham & Company LLC upgraded shares of Silicon Laboratories from a hold rating to a buy rating and set a $150.00 target price on the stock in a research note on Thursday. Finally, Benchmark reaffirmed a hold rating on shares of Silicon Laboratories in a report on Thursday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $135.00.

Silicon Laboratories Trading Up 2.9 %

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

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported ($1.34) earnings per share for the quarter, missing analysts’ consensus estimates 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 net margin of 16.36% and a negative return on equity of 4.45%. As a group, research analysts predict that Silicon Laboratories will post -1.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Silicon Laboratories

Several institutional investors have recently modified their holdings of the stock. Venturi Wealth Management LLC bought a new position in Silicon Laboratories in the third quarter valued at approximately $30,000. GAMMA Investing LLC bought a new stake in Silicon Laboratories in the 4th quarter valued at approximately $36,000. Gladius Capital Management LP boosted its position in Silicon Laboratories by 328.7% during the 4th quarter. Gladius Capital Management LP now owns 373 shares of the semiconductor company’s stock worth $49,000 after acquiring an additional 286 shares during the last quarter. CWM LLC raised its holdings in shares of Silicon Laboratories by 78.1% in the fourth quarter. CWM LLC now owns 374 shares of the semiconductor company’s stock valued at $49,000 after purchasing an additional 164 shares during the last quarter. Finally, Mather Group LLC. bought a new stake in shares of Silicon Laboratories in the first quarter worth $63,000.

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.