Silicon Laboratories Inc. (NASDAQ:SLAB) Receives Average Rating of “Hold” from Brokerages

Silicon Laboratories Inc. (NASDAQ:SLAB) has earned a consensus recommendation of “Hold” from the eleven ratings firms that are covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $122.44.

Several equities research analysts recently issued reports on SLAB shares. StockNews.com raised shares of Silicon Laboratories to a “sell” rating in a report on Friday, November 8th. Morgan Stanley cut their target price on Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. JPMorgan Chase & Co. reduced their price objective on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Stifel Nicolaus reduced their price objective on shares of Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Finally, Barclays reduced their price objective on Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th.

Silicon Laboratories Stock Up 0.4 %

Shares of SLAB stock opened at $129.45 on Friday. Silicon Laboratories has a 12-month low of $94.00 and a 12-month high of $154.91. The company has a market capitalization of $4.20 billion, a PE ratio of -17.49 and a beta of 1.21. The firm has a 50 day moving average price of $114.26 and a two-hundred day moving average price of $113.22.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings results on Monday, November 4th. The semiconductor company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.07. The company had revenue of $166.00 million for the quarter, compared to analysts’ expectations of $165.50 million. Silicon Laboratories had a negative return on equity of 12.60% and a negative net margin of 46.93%. Silicon Laboratories’s revenue was down 18.5% on a year-over-year basis. During the same quarter last year, the business earned $0.48 earnings per share. As a group, research analysts expect that Silicon Laboratories will post -3.56 EPS for the current year.

Hedge Funds Weigh In On Silicon Laboratories

A number of hedge funds have recently bought and sold shares of SLAB. Cullen Frost Bankers Inc. bought a new position in shares of Silicon Laboratories during the 2nd quarter worth approximately $28,000. Advisors Asset Management Inc. grew its holdings in Silicon Laboratories by 159.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 275 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 169 shares in the last quarter. GAMMA Investing LLC lifted its stake in Silicon Laboratories by 84.1% in the 3rd quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock worth $57,000 after purchasing an additional 227 shares in the last quarter. Daiwa Securities Group Inc. purchased a new position in shares of Silicon Laboratories during the 2nd quarter valued at $60,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Silicon Laboratories in the second quarter worth $82,000.

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.