JPMorgan Chase & Co. Cuts Silicon Laboratories (NASDAQ:SLAB) Price Target to $150.00

Silicon Laboratories (NASDAQ:SLAB) had its target price lowered by JPMorgan Chase & Co. from $165.00 to $150.00 in a report issued on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the semiconductor company’s stock.

SLAB has been the subject of a number of other reports. Benchmark reaffirmed a hold rating on shares of Silicon Laboratories in a report on Thursday. Summit Insights downgraded shares of Silicon Laboratories from a buy rating to a hold rating in a report on Wednesday. StockNews.com downgraded shares of Silicon Laboratories from a hold rating to a sell rating in a report on Friday, December 29th. Barclays lifted their price target on shares of Silicon Laboratories from $120.00 to $140.00 and gave the company an equal weight rating in a report on Thursday, February 8th. Finally, Stifel Nicolaus lifted their price target on shares of Silicon Laboratories from $136.00 to $155.00 and gave the company a buy rating in a report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Silicon Laboratories presently has a consensus rating of Hold and an average target price of $135.00.

Silicon Laboratories Stock Performance

NASDAQ:SLAB opened at $122.13 on Thursday. The company has a 50-day moving average of $133.57 and a 200-day moving average of $122.19. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of -36.90 and a beta of 1.27. Silicon Laboratories has a 52 week low of $74.56 and a 52 week high of $166.94.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported ($1.34) EPS for the quarter, missing analysts’ consensus estimates of ($1.29) by ($0.05). The business had revenue of $106.38 million for the quarter, compared to the consensus estimate of $104.45 million. Silicon Laboratories had a negative return on equity of 4.45% and a negative net margin of 16.36%. Sell-side analysts forecast that Silicon Laboratories will post -1.66 EPS for the current year.

Institutional Investors Weigh In On Silicon Laboratories

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Park Avenue Securities LLC acquired a new stake in Silicon Laboratories in the 3rd quarter valued at about $339,000. Federated Hermes Inc. increased its position in Silicon Laboratories by 6.9% in 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 in the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Silicon Laboratories during the 3rd quarter worth approximately $30,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Silicon Laboratories during the 3rd quarter worth approximately $3,652,000. Finally, Envestnet Asset Management Inc. grew its position in shares of Silicon Laboratories by 37.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 90,289 shares of the semiconductor company’s stock worth $10,464,000 after buying an additional 24,468 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.