TD Cowen Trims Silicon Laboratories (NASDAQ:SLAB) Target Price to $145.00

Silicon Laboratories (NASDAQ:SLAB) had its price target cut by TD Cowen from $155.00 to $145.00 in a research report sent to investors on Thursday, MarketBeat.com reports. They currently have a buy rating on the semiconductor company’s stock.

SLAB has been the topic of several other research reports. 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. Summit Insights downgraded shares of Silicon Laboratories from a buy rating to a hold rating in a report on Wednesday. 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. StockNews.com downgraded shares of Silicon Laboratories from a hold rating to a sell rating in a report on Friday, December 29th. Finally, Needham & Company LLC raised shares of Silicon Laboratories from a hold rating to a buy rating and set a $150.00 price target on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $135.00.

Silicon Laboratories Trading Up 2.7 %

Shares of NASDAQ SLAB opened at $122.13 on Thursday. The firm has a 50 day moving average of $133.57 and a 200 day moving average of $122.19. The firm 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 12-month low of $74.56 and a 12-month high of $166.94.

Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results 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 the consensus estimate of $104.45 million. Silicon Laboratories had a negative net margin of 16.36% and a negative return on equity of 4.45%. Sell-side analysts predict that Silicon Laboratories will post -1.66 EPS for the current year.

Hedge Funds Weigh In On Silicon Laboratories

Several hedge funds have recently modified their holdings of the stock. Louisiana State Employees Retirement System lifted its holdings in shares of Silicon Laboratories by 3.4% in the first quarter. Louisiana State Employees Retirement System now owns 9,200 shares of the semiconductor company’s stock worth $1,322,000 after buying an additional 300 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of Silicon Laboratories by 14.5% in the first quarter. Raymond James & Associates now owns 91,168 shares of the semiconductor company’s stock worth $13,103,000 after buying an additional 11,548 shares in the last quarter. Berry Wealth Group LP purchased a new position in shares of Silicon Laboratories in the first quarter worth $201,000. State of Michigan Retirement System lifted its holdings in shares of Silicon Laboratories by 2.6% in the first quarter. State of Michigan Retirement System now owns 7,797 shares of the semiconductor company’s stock worth $1,121,000 after buying an additional 200 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Silicon Laboratories by 12.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 62,397 shares of the semiconductor company’s stock worth $8,968,000 after buying an additional 7,081 shares in 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.