Silicon Laboratories, Inc. (NASDAQ:SLAB) Receives Average Rating of “Reduce” from Brokerages

Silicon Laboratories, Inc. (NASDAQ:SLAB) has been assigned an average rating of “Reduce” from the seven ratings firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $218.00.

A number of brokerages have recently commented on SLAB. Weiss Ratings reiterated a “sell (d-)” rating on shares of Silicon Laboratories in a research note on Wednesday, June 24th. Zacks Research lowered Silicon Laboratories from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 18th.

Silicon Laboratories Trading Up 0.5%

SLAB opened at $220.33 on Tuesday. The company has a market cap of $7.35 billion, a P/E ratio of -186.72 and a beta of 1.36. The company’s 50 day moving average is $218.47 and its 200-day moving average is $214.88. Silicon Laboratories has a 1-year low of $115.50 and a 1-year high of $222.49.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings data 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. 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 during the quarter, compared to analysts’ expectations of $227.99 million. During the same period in the prior year, the company earned $0.11 EPS. The firm’s quarterly revenue was up 18.3% compared to the same quarter last year. On average, equities analysts forecast that Silicon Laboratories will post 0.52 EPS for the current year.

Institutional Trading of Silicon Laboratories

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Sequoia Financial Advisors LLC increased its stake in shares of Silicon Laboratories by 191.3% in the second quarter. Sequoia Financial Advisors LLC now owns 3,539 shares of the semiconductor company’s stock valued at $773,000 after buying an additional 2,324 shares during the period. Tidal Investments LLC boosted its position in Silicon Laboratories by 99.1% during the 2nd quarter. Tidal Investments LLC now owns 4,936 shares of the semiconductor company’s stock worth $1,079,000 after buying an additional 2,457 shares during the period. WINTON GROUP Ltd grew its holdings in Silicon Laboratories by 2.4% during the 2nd quarter. WINTON GROUP Ltd now owns 55,098 shares of the semiconductor company’s stock worth $12,042,000 after acquiring an additional 1,272 shares during the last quarter. Engineers Gate Manager LP grew its holdings in Silicon Laboratories by 45.6% during the 2nd quarter. Engineers Gate Manager LP now owns 33,304 shares of the semiconductor company’s stock worth $7,279,000 after acquiring an additional 10,424 shares during the last quarter. Finally, Squarepoint Ops LLC increased its position in Silicon Laboratories by 2.9% in the 2nd quarter. Squarepoint Ops LLC now owns 114,521 shares of the semiconductor company’s stock valued at $25,030,000 after acquiring an additional 3,231 shares during the period.

About Silicon Laboratories

Silicon Laboratories Inc is a fabless semiconductor company focused on technologies that connect and control devices in the Internet of Things (IoT). The company develops integrated circuits, modules and software designed to help manufacturers build connected products for residential, commercial and industrial applications.

Its portfolio includes wireless system-on-chips, microcontrollers, connectivity modules and development tools supporting technologies such as Bluetooth, Wi-Fi, Zigbee, Thread, Matter and proprietary wireless protocols.