Silicon Laboratories (NASDAQ:SLAB) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Silicon Laboratories (NASDAQ:SLAB) to a hold rating in a report issued on Saturday,Wall Street Zen reports.

SLAB has been the topic of a number of other reports. Zacks Research downgraded shares of Silicon Laboratories from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Silicon Laboratories in a report on Monday, September 21st. Five research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Silicon Laboratories currently has a consensus rating of “Reduce” and a consensus price target of $218.00.

Silicon Laboratories Price Performance

SLAB stock opened at $222.04 on Friday. Silicon Laboratories has a 1-year low of $115.50 and a 1-year high of $223.50. The business has a 50 day simple moving average of $219.94 and a two-hundred day simple moving average of $217.29. The company has a market capitalization of $7.41 billion, a price-to-earnings ratio of -188.17 and a beta of 1.33.

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, beating the consensus estimate 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 firm had revenue of $228.19 million for the quarter, compared to analysts’ expectations of $227.99 million. During the same quarter last year, the business posted $0.11 earnings per share. The company’s revenue for the quarter was up 18.3% compared to the same quarter last year. Sell-side analysts anticipate that Silicon Laboratories will post 0.52 EPS for the current fiscal year.

Institutional Trading of Silicon Laboratories

Several hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Silicon Laboratories during the second quarter worth approximately $1,135,435,000. HBK Investments L P purchased a new position in shares of Silicon Laboratories in the 2nd quarter worth approximately $218,560,000. Pentwater Capital Management LP purchased a new position in shares of Silicon Laboratories in the 2nd quarter worth approximately $162,111,000. Hsbc Holdings PLC bought a new position in shares of Silicon Laboratories during the 2nd quarter valued at approximately $67,455,000. Finally, Assenagon Asset Management S.A. increased its position in shares of Silicon Laboratories by 395.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 239,318 shares of the semiconductor company’s stock valued at $49,814,000 after purchasing an additional 190,994 shares during 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.