Silicon Laboratories (NASDAQ:SLAB) Downgraded by Zacks Research to “Strong Sell”

Zacks Research downgraded shares of Silicon Laboratories (NASDAQ:SLAB) from a hold rating to a strong sell rating in a research note published on Tuesday,Zacks.com reports.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Silicon Laboratories in a report on Wednesday, June 24th. Five equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $218.00.

Silicon Laboratories Price Performance

Silicon Laboratories stock opened at $218.92 on Tuesday. The stock has a market cap of $7.31 billion, a price-to-earnings ratio of -185.53 and a beta of 1.37. The firm has a 50-day moving average of $218.34 and a two-hundred day moving average of $211.96. Silicon Laboratories has a 1 year low of $115.50 and a 1 year high of $220.90.

Silicon Laboratories (NASDAQ:SLAB) last issued its earnings results on Tuesday, August 11th. The semiconductor company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $228.19 million for the quarter, compared to analyst estimates of $227.99 million. During the same period last year, the company posted $0.11 earnings per share. The company’s quarterly revenue was up 18.3% compared to the same quarter last year. Research analysts expect that Silicon Laboratories will post 0.52 earnings per share for the current year.

Hedge Funds Weigh In On Silicon Laboratories

Institutional investors have recently bought and sold shares of the business. Harbor Investment Advisory LLC purchased a new stake in Silicon Laboratories during the second quarter worth $28,000. Allworth Financial LP bought a new position in shares of Silicon Laboratories in the 2nd quarter worth $42,000. EverSource Wealth Advisors LLC raised its position in shares of Silicon Laboratories by 66.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 225 shares of the semiconductor company’s stock worth $47,000 after acquiring an additional 90 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Silicon Laboratories during the 4th quarter worth $32,000. Finally, Covestor Ltd lifted its stake in shares of Silicon Laboratories by 260.3% during the 4th quarter. Covestor Ltd now owns 281 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 203 shares during the last quarter.

Silicon Laboratories Company Profile

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.