Silicon Laboratories, Inc. (NASDAQ:SLAB) Receives Average Rating of “Reduce” from Analysts

Shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) have received a consensus rating of “Reduce” from the seven analysts that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $218.00.

Several research firms have weighed in on SLAB. Weiss Ratings restated a “sell (d-)” rating on shares of Silicon Laboratories in a report on Wednesday, June 24th. Zacks Research lowered Silicon Laboratories from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 18th.

Institutional Trading of Silicon Laboratories

Large investors have recently modified their holdings of the company. California State Teachers Retirement System lifted its stake in Silicon Laboratories by 21.5% during the first quarter. California State Teachers Retirement System now owns 38,003 shares of the semiconductor company’s stock worth $7,910,000 after purchasing an additional 6,737 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Silicon Laboratories in the 2nd quarter valued at approximately $2,378,000. BlackRock Inc. bought a new stake in shares of Silicon Laboratories in the 2nd quarter valued at approximately $1,135,435,000. Assenagon Asset Management S.A. raised its holdings in shares of Silicon Laboratories by 395.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 239,318 shares of the semiconductor company’s stock worth $49,814,000 after buying an additional 190,994 shares in the last quarter. Finally, SEB Asset Management AB bought a new position in shares of Silicon Laboratories during the 1st quarter worth approximately $1,562,000.

Silicon Laboratories Stock Down 0.5%

NASDAQ SLAB opened at $219.28 on Tuesday. The stock has a market capitalization of $7.32 billion, a PE ratio of -185.83 and a beta of 1.36. Silicon Laboratories has a 12-month low of $115.50 and a 12-month high of $222.49. The company has a 50 day moving average price of $218.51 and a two-hundred day moving average price of $215.06.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings results on Tuesday, August 11th. The semiconductor company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. Silicon Laboratories had a negative net margin of 4.57% and a negative return on equity of 0.66%. The company had revenue of $228.19 million for the quarter, compared to analyst estimates of $227.99 million. During the same quarter in the prior year, the business posted $0.11 EPS. Silicon Laboratories’s quarterly revenue was up 18.3% on a year-over-year basis. As a group, equities analysts anticipate that Silicon Laboratories will post 0.52 EPS for the current year.

About Silicon Laboratories

Silicon Laboratories Inc is a fabless semiconductor company focused on technologies that connect and control devices in the Internet of Things (IoT). The company develops integrated circuits, modules and software designed to help manufacturers build connected products for residential, commercial and industrial applications.

Its portfolio includes wireless system-on-chips, microcontrollers, connectivity modules and development tools supporting technologies such as Bluetooth, Wi-Fi, Zigbee, Thread, Matter and proprietary wireless protocols.