Summit Insights Downgrades Silicon Laboratories (NASDAQ:SLAB) to Hold

Summit Insights cut shares of Silicon Laboratories (NASDAQ:SLAB) from a buy rating to a hold rating in a report published on Wednesday, MarketBeat reports.

A number of other research analysts also recently weighed in on the company. StockNews.com downgraded Silicon Laboratories from a hold rating to a sell rating in a report on Friday, December 29th. JPMorgan Chase & Co. upped their target price on Silicon Laboratories from $145.00 to $165.00 and gave the stock an overweight rating in a report on Thursday, February 8th. Barclays upped their target price on Silicon Laboratories from $120.00 to $140.00 and gave the stock an equal weight rating in a report on Thursday, February 8th. TD Cowen upped their price target on Silicon Laboratories from $140.00 to $155.00 and gave the stock an outperform rating in a research note on Thursday, February 8th. Finally, Stifel Nicolaus upped their price target on Silicon Laboratories from $136.00 to $155.00 and gave the stock a buy rating in a research note on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $143.29.

Silicon Laboratories Stock Down 8.9 %

SLAB opened at $114.26 on Wednesday. The business has a 50 day simple moving average of $134.92 and a two-hundred day simple moving average of $122.17. Silicon Laboratories has a one year low of $74.56 and a one year high of $166.94.

Silicon Laboratories (NASDAQ:SLAB) last posted its earnings results on Wednesday, February 7th. The semiconductor company reported ($1.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.91) by $0.45. Silicon Laboratories had a positive return on equity of 0.97% and a negative net margin of 4.41%. The firm had revenue of $86.85 million for the quarter, compared to the consensus estimate of $85.32 million. Research analysts anticipate that Silicon Laboratories will post -1.66 EPS for the current year.

Hedge Funds Weigh In On Silicon Laboratories

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Park Avenue Securities LLC bought a new position in Silicon Laboratories in the 3rd quarter valued at approximately $339,000. Federated Hermes Inc. lifted its position in Silicon Laboratories by 6.9% in the 4th quarter. Federated Hermes Inc. now owns 516,484 shares of the semiconductor company’s stock valued at $68,315,000 after acquiring an additional 33,357 shares in the last quarter. Venturi Wealth Management LLC bought a new position in Silicon Laboratories in the 3rd quarter valued at approximately $30,000. Schonfeld Strategic Advisors LLC bought a new position in Silicon Laboratories in the 3rd quarter valued at approximately $3,652,000. Finally, Envestnet Asset Management Inc. lifted its position in Silicon Laboratories by 37.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 90,289 shares of the semiconductor company’s stock valued at $10,464,000 after acquiring an additional 24,468 shares in the last quarter.

About Silicon Laboratories

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.