Silicon Laboratories (NASDAQ:SLAB) Rating Lowered to “Strong Sell” at Zacks Research

Silicon Laboratories (NASDAQ:SLAB) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Wednesday, June 24th. Five investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Silicon Laboratories presently has a consensus rating of “Reduce” and a consensus target price of $218.00.

Silicon Laboratories Stock Performance

Silicon Laboratories stock opened at $218.92 on Tuesday. The firm has a market capitalization of $7.31 billion, a PE ratio of -185.53 and a beta of 1.37. Silicon Laboratories has a one year low of $115.50 and a one year high of $220.90. The stock’s 50 day moving average price is $218.34 and its 200 day moving average price is $211.96.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data on Tuesday, August 11th. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02. The company had revenue of $228.19 million during the quarter, compared to the consensus estimate of $227.99 million. Silicon Laboratories had a negative net margin of 4.57% and a negative return on equity of 0.66%. Silicon Laboratories’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter last year, the company earned $0.11 earnings per share. On average, analysts forecast that Silicon Laboratories will post 0.52 earnings per share for the current fiscal year.

Institutional Trading of Silicon Laboratories

Hedge funds and other institutional investors have recently bought and sold shares of the company. Harbor Investment Advisory LLC bought a new stake in Silicon Laboratories during the second quarter valued at $28,000. Allworth Financial LP acquired a new position in shares of Silicon Laboratories in the 2nd quarter valued at about $42,000. EverSource Wealth Advisors LLC grew its position in shares of Silicon Laboratories by 66.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 225 shares of the semiconductor company’s stock valued at $47,000 after buying an additional 90 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in Silicon Laboratories during the fourth quarter worth about $32,000. Finally, Covestor Ltd raised its stake in Silicon Laboratories by 260.3% during the fourth quarter. Covestor Ltd now owns 281 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 203 shares during the period.

About Silicon Laboratories

Silicon Laboratories (NASDAQ:SLAB) is a global semiconductor company that develops high-performance analog and mixed-signal integrated circuits, wireless system-on-chips (SoCs), microcontrollers, and radio frequency (RF) solutions. Its product portfolio is tailored to support the Internet of Things (IoT), infrastructure, industrial automation, consumer electronics, automotive, and energy markets. By combining silicon, software, and tools, Silicon Labs aims to accelerate development cycles and deliver low-power, highly integrated solutions that address demanding application requirements.

Founded in 1996 and headquartered in Austin, Texas, Silicon Labs has grown into a multinational organization with engineering and sales operations across North America, Europe, and Asia.