JPMorgan Chase & Co. Cuts Silicon Laboratories (NASDAQ:SLAB) Price Target to $150.00

Silicon Laboratories (NASDAQ:SLAB) had its price objective cut by JPMorgan Chase & Co. from $165.00 to $150.00 in a report published on Thursday morning, Benzinga reports. They currently have an overweight rating on the semiconductor company’s stock.

Several other equities research analysts also recently weighed in on the stock. Summit Insights downgraded shares of Silicon Laboratories from a buy rating to a hold rating in a research note on Wednesday, April 24th. Benchmark reaffirmed a hold rating on shares of Silicon Laboratories in a research note on Thursday. Stifel Nicolaus upped their target price 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 raised 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, TD Cowen cut their target price on shares of Silicon Laboratories from $155.00 to $145.00 and set a buy rating on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Silicon Laboratories currently has a consensus rating of Hold and a consensus price target of $135.00.

Silicon Laboratories Price Performance

Silicon Laboratories stock opened at $122.13 on Thursday. The company’s 50 day simple moving average is $133.57 and its 200-day simple moving average is $122.23. Silicon Laboratories has a 1 year low of $74.56 and a 1 year high of $166.94.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported ($1.34) earnings per share (EPS) 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 analysts’ expectations of $104.45 million. Silicon Laboratories had a negative net margin of 16.36% and a negative return on equity of 4.45%. Analysts predict that Silicon Laboratories will post -1.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. L. Roy Papp & Associates LLP boosted its holdings in shares of Silicon Laboratories by 1.2% in the 4th quarter. L. Roy Papp & Associates LLP now owns 9,920 shares of the semiconductor company’s stock valued at $1,312,000 after buying an additional 120 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Silicon Laboratories by 20.0% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 733 shares of the semiconductor company’s stock valued at $85,000 after buying an additional 122 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in shares of Silicon Laboratories by 31.7% in the 3rd quarter. Global Retirement Partners LLC now owns 507 shares of the semiconductor company’s stock valued at $58,000 after buying an additional 122 shares in the last quarter. Coldstream Capital Management Inc. boosted its holdings in shares of Silicon Laboratories by 6.9% in the 4th quarter. Coldstream Capital Management Inc. now owns 2,431 shares of the semiconductor company’s stock valued at $322,000 after buying an additional 157 shares in the last quarter. Finally, CWM LLC boosted its holdings in shares of Silicon Laboratories by 78.1% in the 4th quarter. CWM LLC now owns 374 shares of the semiconductor company’s stock valued at $49,000 after buying an additional 164 shares in 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.