Silicon Laboratories, Inc. (NASDAQ:SLAB) Receives $218.00 Average Price Target from Analysts

Silicon Laboratories, Inc. (NASDAQ:SLAB) has earned a consensus rating of “Reduce” from the six brokerages that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $218.00.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Silicon Laboratories in a report on Wednesday, June 24th.

Silicon Laboratories Trading Down 0.1%

Silicon Laboratories stock opened at $219.00 on Friday. The stock has a fifty day moving average price of $218.32 and a 200 day moving average price of $211.45. Silicon Laboratories has a 52 week low of $115.50 and a 52 week high of $220.90. The firm has a market capitalization of $7.31 billion, a P/E ratio of -185.59 and a beta of 1.37.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings results on Tuesday, August 11th. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The firm had revenue of $228.19 million for the quarter, compared to analyst estimates of $227.99 million. Silicon Laboratories had a negative return on equity of 0.66% and a negative net margin of 4.57%.The firm’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period last year, the company earned $0.11 EPS. As a group, equities analysts predict that Silicon Laboratories will post 0.74 EPS for the current year.

Hedge Funds Weigh In On Silicon Laboratories

Several institutional investors and hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System lifted its position 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 valued at $7,910,000 after buying an additional 6,737 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Silicon Laboratories by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 3,992,407 shares of the semiconductor company’s stock worth $521,808,000 after acquiring an additional 121,432 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Silicon Laboratories by 395.2% in the first quarter. Assenagon Asset Management S.A. now owns 239,318 shares of the semiconductor company’s stock worth $49,814,000 after acquiring an additional 190,994 shares in the last quarter. Hsbc Holdings PLC raised its stake in shares of Silicon Laboratories by 74.3% in the 4th quarter. Hsbc Holdings PLC now owns 11,558 shares of the semiconductor company’s stock valued at $1,516,000 after acquiring an additional 4,927 shares during the period. Finally, Future Fund LLC raised its stake in shares of Silicon Laboratories by 43.1% in the 4th quarter. Future Fund LLC now owns 11,878 shares of the semiconductor company’s stock valued at $1,552,000 after acquiring an additional 3,580 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.