Silicon Laboratories, Inc. (NASDAQ:SLAB) Stock Has Consensus Target Price of $218.00

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

A number of equities research analysts have commented on the stock. Zacks Research downgraded shares of Silicon Laboratories from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Silicon Laboratories in a report on Monday, September 21st.

Silicon Laboratories Stock Performance

Shares of NASDAQ SLAB opened at $221.95 on Friday. The company has a market cap of $7.41 billion, a PE ratio of -188.09 and a beta of 1.33. Silicon Laboratories has a 52-week low of $115.50 and a 52-week high of $223.50. The firm’s 50 day moving average price is $219.75 and its 200-day moving average price is $217.15.

Silicon Laboratories (NASDAQ:SLAB) last issued its earnings results on Tuesday, August 11th. The semiconductor company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. The business had revenue of $228.19 million for the quarter, compared to the consensus estimate of $227.99 million. Silicon Laboratories had a negative return on equity of 0.66% and a negative net margin of 4.57%.The company’s revenue was up 18.3% compared to the same quarter last year. During the same period last year, the business posted $0.11 EPS. On average, analysts forecast that Silicon Laboratories will post 0.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Harbor Investment Advisory LLC purchased a new position in Silicon Laboratories during the second quarter valued at $28,000. Allworth Financial LP bought a new stake in Silicon Laboratories during the 2nd quarter worth approximately $42,000. EverSource Wealth Advisors LLC raised its stake in Silicon Laboratories by 66.7% during 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 during the period. Public Employees Retirement System of Ohio purchased a new position in Silicon Laboratories during the second quarter valued at approximately $99,000. Finally, Global Retirement Partners LLC lifted its holdings in Silicon Laboratories by 37.3% during the fourth quarter. Global Retirement Partners LLC now owns 497 shares of the semiconductor company’s stock valued at $65,000 after purchasing an additional 135 shares in the last quarter.

About Silicon Laboratories

Silicon Laboratories Inc is a fabless semiconductor company focused on wireless connectivity solutions for the Internet of Things (IoT). The company develops technologies that enable connected devices to communicate, sense, and operate efficiently across residential, commercial, industrial, and consumer applications.

Its product portfolio includes wireless system-on-chips, microcontrollers, modules, sensors, development kits, software, and development tools. Silicon Labs supports technologies and protocols such as Bluetooth, Wi-Fi, Zigbee, Thread, Matter, and proprietary sub-GHz wireless communications.