Citigroup Cuts Silicon Laboratories (NASDAQ:SLAB) Price Target to $120.00

Silicon Laboratories (NASDAQ:SLAB) had its price objective trimmed by Citigroup from $137.00 to $120.00 in a research note published on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the semiconductor company’s stock.

Several other analysts also recently weighed in on SLAB. Benchmark reissued a hold rating on shares of Silicon Laboratories in a report on Thursday. Barclays reduced their target price on Silicon Laboratories from $140.00 to $120.00 and set an equal weight rating for the company in a report on Thursday. Stifel Nicolaus boosted their target price on Silicon Laboratories from $136.00 to $155.00 and gave the company a buy rating in a report on Tuesday, January 2nd. JPMorgan Chase & Co. reduced their target price on Silicon Laboratories from $165.00 to $150.00 and set an overweight rating for the company in a report on Thursday. Finally, TD Cowen reduced their target price on Silicon Laboratories from $155.00 to $145.00 and set a buy rating for the company in a report on Thursday. One 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. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $135.00.

Silicon Laboratories Stock Performance

NASDAQ:SLAB opened at $122.13 on Thursday. The stock has a 50-day simple moving average of $133.57 and a 200-day simple moving average of $122.19. The stock has a market cap of $3.90 billion, a P/E ratio of -36.90 and a beta of 1.27. Silicon Laboratories has a 1 year low of $74.56 and a 1 year high of $166.94.

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 for the quarter, compared to analyst estimates of $104.45 million. Silicon Laboratories had a negative return on equity of 4.45% and a negative net margin of 16.36%. On average, equities research analysts predict that Silicon Laboratories will post -1.66 EPS for the current year.

Institutional Trading of Silicon Laboratories

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Silicon Laboratories by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 3,464,163 shares of the semiconductor company’s stock valued at $458,205,000 after acquiring an additional 179,131 shares during the last quarter. Capital Research Global Investors raised its stake in Silicon Laboratories by 73.9% during the 4th quarter. Capital Research Global Investors now owns 937,939 shares of the semiconductor company’s stock valued at $124,061,000 after acquiring an additional 398,489 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Silicon Laboratories by 4.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 641,710 shares of the semiconductor company’s stock valued at $84,884,000 after acquiring an additional 28,759 shares during the last quarter. Van Berkom & Associates Inc. raised its stake in Silicon Laboratories by 36.2% during the 3rd quarter. Van Berkom & Associates Inc. now owns 572,762 shares of the semiconductor company’s stock valued at $66,377,000 after acquiring an additional 152,269 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in Silicon Laboratories by 6.9% during the 4th 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 last quarter.

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.