Barclays Trims Silicon Laboratories (NASDAQ:SLAB) Target Price to $120.00

Silicon Laboratories (NASDAQ:SLAB) had its price objective reduced by Barclays from $140.00 to $120.00 in a research note published on Thursday, Benzinga reports. They currently have an equal weight rating on the semiconductor company’s stock.

SLAB has been the subject of a number of other research reports. Summit Insights lowered shares of Silicon Laboratories from a buy rating to a hold rating in a research report on Wednesday. StockNews.com lowered shares of Silicon Laboratories from a hold rating to a sell rating in a research report on Friday, December 29th. TD Cowen cut their target price on shares of Silicon Laboratories from $155.00 to $145.00 and set a buy rating for the company in a research report on Thursday. Stifel Nicolaus boosted their target price on shares of Silicon Laboratories from $136.00 to $155.00 and gave the stock a buy rating in a research report on Tuesday, January 2nd. Finally, Needham & Company LLC raised shares of Silicon Laboratories from a hold rating to a buy rating and set a $150.00 target price for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Silicon Laboratories presently has an average rating of Hold and an average target price of $135.00.

Silicon Laboratories Trading Up 2.7 %

SLAB stock opened at $122.13 on Thursday. Silicon Laboratories has a 1 year low of $74.56 and a 1 year high of $166.94. The company has a fifty day simple moving average of $133.57 and a 200 day simple moving average of $122.19. The firm has a market cap of $3.90 billion, a PE ratio of -36.90 and a beta of 1.27.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings data on Wednesday, April 24th. 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 during the quarter, compared to analyst estimates of $104.45 million. Silicon Laboratories had a negative net margin of 16.36% and a negative return on equity of 4.45%. As a group, analysts forecast that Silicon Laboratories will post -1.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Park Avenue Securities LLC acquired a new position in shares of Silicon Laboratories during the third quarter valued at about $339,000. Federated Hermes Inc. increased its stake in Silicon Laboratories by 6.9% in the fourth 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 during the period. Venturi Wealth Management LLC bought a new stake in Silicon Laboratories in the third quarter valued at about $30,000. Schonfeld Strategic Advisors LLC bought a new stake in Silicon Laboratories in the third quarter valued at about $3,652,000. Finally, Envestnet Asset Management Inc. increased its stake in Silicon Laboratories by 37.2% in the third 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 during the period.

Silicon Laboratories Company Profile

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.