Silicon Laboratories (NASDAQ:SLAB) Price Target Lowered to $120.00 at Barclays

Silicon Laboratories (NASDAQ:SLAB) had its price objective lowered by research analysts at Barclays from $140.00 to $120.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the semiconductor company’s stock. Barclays‘s price objective suggests a potential upside of 1.15% from the company’s current price.

Several other equities research analysts have also recently weighed in on the company. Summit Insights cut Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday. StockNews.com downgraded shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a research report on Friday, December 29th. Stifel Nicolaus boosted their target price on shares of Silicon Laboratories from $136.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Benchmark restated a “hold” rating on shares of Silicon Laboratories in a research note on Thursday. Finally, TD Cowen decreased their price target on shares of Silicon Laboratories from $155.00 to $145.00 and set a “buy” rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $138.50.

Silicon Laboratories Stock Up 3.8 %

Shares of NASDAQ:SLAB traded up $4.38 during trading on Thursday, hitting $118.64. The stock had a trading volume of 393,840 shares, compared to its average volume of 324,267. The firm’s fifty day moving average is $134.92 and its 200 day moving average is $122.17. The company has a market capitalization of $3.79 billion, a PE ratio of -104.11 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 released its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported ($1.34) earnings per share for the quarter, missing the consensus estimate of ($1.29) by ($0.05). The company had revenue of $106.38 million for the quarter, compared to analysts’ expectations of $104.45 million. Silicon Laboratories had a negative net margin of 4.41% and a positive return on equity of 0.97%. Equities research analysts expect that Silicon Laboratories will post -1.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Silicon Laboratories

A number of hedge funds have recently modified their holdings of SLAB. Venturi Wealth Management LLC purchased a new position in Silicon Laboratories during the third quarter worth about $30,000. GAMMA Investing LLC acquired a new position in shares of Silicon Laboratories in the fourth quarter valued at approximately $36,000. Gladius Capital Management LP grew its stake in Silicon Laboratories by 328.7% during the 4th quarter. Gladius Capital Management LP now owns 373 shares of the semiconductor company’s stock worth $49,000 after purchasing an additional 286 shares in the last quarter. CWM LLC grew its holdings in Silicon Laboratories by 78.1% during the 4th quarter. CWM LLC now owns 374 shares of the semiconductor company’s stock worth $49,000 after acquiring an additional 164 shares in the last quarter. Finally, Mather Group LLC. purchased a new position in Silicon Laboratories in the first quarter valued at $63,000.

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.