Silicon Laboratories (NASDAQ:SLAB) Shares Gap Down to $125.41

Silicon Laboratories Inc. (NASDAQ:SLAB)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $125.41, but opened at $122.02. Silicon Laboratories shares last traded at $118.04, with a volume of 232,021 shares trading hands.

Analysts Set New Price Targets

SLAB has been the subject of several analyst reports. Summit Insights cut Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday. Stifel Nicolaus upped 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. TD Cowen upped their target price on Silicon Laboratories from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, February 8th. Barclays upped their target price on Silicon Laboratories from $120.00 to $140.00 and gave the company an “equal weight” rating in a report on Thursday, February 8th. Finally, StockNews.com lowered Silicon Laboratories from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $143.29.

Silicon Laboratories Stock Performance

The company has a 50 day moving average price of $134.92 and a 200 day moving average price of $122.17. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of -104.18 and a beta of 1.27.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings results on Wednesday, February 7th. The semiconductor company reported ($1.46) EPS for the quarter, beating the consensus estimate of ($1.91) by $0.45. Silicon Laboratories had a positive return on equity of 0.97% and a negative net margin of 4.41%. The business had revenue of $86.85 million for the quarter, compared to analyst estimates of $85.32 million. On average, research analysts forecast that Silicon Laboratories Inc. will post -1.66 earnings per share for the current year.

Hedge Funds Weigh In On Silicon Laboratories

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

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.