Barclays Cuts Silicon Laboratories (NASDAQ:SLAB) Price Target to $75.00

Silicon Laboratories (NASDAQ:SLAB) had its price objective dropped by analysts at Barclays from $120.00 to $75.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the semiconductor company’s stock. Barclays‘s target price suggests a potential downside of 35.18% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Needham & Company LLC reissued a “buy” rating and set a $150.00 target price on shares of Silicon Laboratories in a research report on Thursday, July 25th. KeyCorp reduced their price objective on Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, StockNews.com upgraded Silicon Laboratories to a “sell” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $121.50.

Silicon Laboratories Stock Up 10.8 %

Silicon Laboratories stock opened at $115.70 on Tuesday. The stock has a market cap of $3.74 billion, a P/E ratio of -15.64 and a beta of 1.20. The company’s 50 day moving average price is $112.29 and its two-hundred day moving average price is $115.48. Silicon Laboratories has a 52 week low of $91.37 and a 52 week high of $154.91.

Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.07. The firm had revenue of $166.00 million during the quarter, compared to analyst estimates of $165.50 million. Silicon Laboratories had a negative return on equity of 12.40% and a negative net margin of 46.93%. The business’s revenue was down 18.5% compared to the same quarter last year. During the same period last year, the firm posted $0.48 EPS. On average, equities analysts anticipate that Silicon Laboratories will post -3.41 EPS for the current year.

Insider Transactions at Silicon Laboratories

In related news, SVP Brandon Tolany sold 845 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $115.00, for a total transaction of $97,175.00. Following the sale, the senior vice president now directly owns 43,615 shares in the company, valued at approximately $5,015,725. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.72% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Cullen Frost Bankers Inc. purchased a new stake in shares of Silicon Laboratories in the second quarter worth about $28,000. Fidelis Capital Partners LLC purchased a new stake in Silicon Laboratories in the 1st quarter worth approximately $55,000. GAMMA Investing LLC boosted its holdings in Silicon Laboratories by 84.1% in the 3rd quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock valued at $57,000 after purchasing an additional 227 shares during the period. Daiwa Securities Group Inc. bought a new position in Silicon Laboratories in the 2nd quarter valued at $60,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Silicon Laboratories during the 2nd quarter valued at $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.