Silicon Laboratories (NASDAQ:SLAB) Downgraded to Hold at Summit Insights

Summit Insights lowered shares of Silicon Laboratories (NASDAQ:SLAB) from a buy rating to a hold rating in a research report report published on Wednesday, MarketBeat.com reports.

Several other brokerages have also commented on SLAB. JPMorgan Chase & Co. upped their target price on Silicon Laboratories from $145.00 to $165.00 and gave the company an overweight rating in a research report on Thursday, February 8th. StockNews.com downgraded Silicon Laboratories from a hold rating to a sell rating in a research note on Friday, December 29th. Barclays upped their price target on Silicon Laboratories from $120.00 to $140.00 and gave the stock an equal weight rating in a research note on Thursday, February 8th. Stifel Nicolaus upped their price target on Silicon Laboratories from $136.00 to $155.00 and gave the stock a buy rating in a research note on Tuesday, January 2nd. Finally, TD Cowen upped their price target on Silicon Laboratories from $140.00 to $155.00 and gave the stock an outperform rating in a research note on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Silicon Laboratories currently has an average rating of Hold and an average target price of $143.29.

Silicon Laboratories Stock Performance

Shares of Silicon Laboratories stock opened at $114.26 on Wednesday. Silicon Laboratories has a one year low of $74.56 and a one year high of $166.94. The stock’s 50-day moving average is $134.92 and its 200 day moving average is $122.17.

Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results on Wednesday, February 7th. The semiconductor company reported ($1.46) EPS for the quarter, beating the consensus estimate of ($1.91) by $0.45. Silicon Laboratories had a positive return on equity of 0.97% and a negative net margin of 4.41%. The company had revenue of $86.85 million for the quarter, compared to analyst estimates of $85.32 million. Analysts expect that Silicon Laboratories will post -1.66 EPS for the current fiscal year.

Institutional Trading of Silicon Laboratories

A number of institutional investors and hedge funds have recently modified their holdings of SLAB. Global Retirement Partners LLC increased its position in shares of Silicon Laboratories by 31.7% during the third quarter. Global Retirement Partners LLC now owns 507 shares of the semiconductor company’s stock valued at $58,000 after acquiring an additional 122 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Silicon Laboratories during the third quarter valued at approximately $380,000. Raymond James & Associates grew its holdings in Silicon Laboratories by 14.2% during the third quarter. Raymond James & Associates now owns 79,046 shares of the semiconductor company’s stock valued at $9,161,000 after purchasing an additional 9,845 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Silicon Laboratories by 20.0% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 733 shares of the semiconductor company’s stock valued at $85,000 after purchasing an additional 122 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Silicon Laboratories by 6.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,372 shares of the semiconductor company’s stock valued at $738,000 after purchasing an additional 403 shares during the period.

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.