Silicon Laboratories (NASDAQ:SLAB) Shares Gap Down Following Weak Earnings

Silicon Laboratories Inc. (NASDAQ:SLAB) shares gapped down prior to trading on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $125.41, but opened at $122.02. Silicon Laboratories shares last traded at $118.04, with a volume of 232,021 shares traded.

The semiconductor company reported ($1.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.29) by ($0.05). The business had revenue of $106.38 million for the quarter, compared to analyst estimates of $104.45 million. Silicon Laboratories had a negative return on equity of 4.45% and a negative net margin of 16.36%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Barclays decreased their target price on Silicon Laboratories from $140.00 to $120.00 and set an “equal weight” rating for the company in a research report on Thursday. JPMorgan Chase & Co. decreased their target price on Silicon Laboratories from $165.00 to $150.00 and set an “overweight” rating for the company in a research report on Thursday. Citigroup decreased their target price on Silicon Laboratories from $137.00 to $120.00 and set a “neutral” rating for the company in a research report on Thursday. TD Cowen decreased their target price on Silicon Laboratories from $155.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Summit Insights cut Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Silicon Laboratories has a consensus rating of “Hold” and a consensus target price of $135.00.

Institutional Investors Weigh In On Silicon Laboratories

A number of large investors have recently bought and sold shares of the stock. L. Roy Papp & Associates LLP grew its holdings in Silicon Laboratories by 1.2% during the 4th quarter. L. Roy Papp & Associates LLP now owns 9,920 shares of the semiconductor company’s stock valued at $1,312,000 after buying an additional 120 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Silicon Laboratories by 20.0% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 733 shares of the semiconductor company’s stock valued at $85,000 after buying an additional 122 shares during the last quarter. Global Retirement Partners LLC grew its holdings in Silicon Laboratories by 31.7% during the 3rd quarter. Global Retirement Partners LLC now owns 507 shares of the semiconductor company’s stock valued at $58,000 after buying an additional 122 shares during the last quarter. Coldstream Capital Management Inc. grew its holdings in Silicon Laboratories by 6.9% during the 4th quarter. Coldstream Capital Management Inc. now owns 2,431 shares of the semiconductor company’s stock valued at $322,000 after buying an additional 157 shares during the last quarter. Finally, CWM LLC grew its holdings in Silicon Laboratories by 78.1% during the 4th quarter. CWM LLC now owns 374 shares of the semiconductor company’s stock valued at $49,000 after buying an additional 164 shares during the last quarter.

Silicon Laboratories Trading Up 4.1 %

The firm has a fifty day moving average price of $134.38 and a 200-day moving average price of $122.12.

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.