Stifel Nicolaus Issues Pessimistic Forecast for Silicon Laboratories (NASDAQ:SLAB) Stock Price

Silicon Laboratories (NASDAQ:SLAB) had its price objective reduced by stock analysts at Stifel Nicolaus from $160.00 to $135.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 26.71% from the company’s current price.

A number of other equities research analysts have also recently commented on the stock. StockNews.com upgraded shares of Silicon Laboratories to a “sell” rating in a report on Wednesday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $150.00 price target on shares of Silicon Laboratories in a report on Thursday, July 25th. Barclays decreased their price objective on Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, KeyCorp reduced their price target on shares of Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $127.14.

Silicon Laboratories Trading Up 1.7 %

Shares of SLAB stock traded up $1.80 during midday trading on Tuesday, reaching $106.54. 320,544 shares of the stock were exchanged, compared to its average volume of 294,878. The firm has a market cap of $3.44 billion, a PE ratio of -17.18 and a beta of 1.20. The company’s 50 day moving average is $112.56 and its two-hundred day moving average is $115.56. Silicon Laboratories has a 1 year low of $90.65 and a 1 year high of $154.91.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings data on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.07. Silicon Laboratories had a negative return on equity of 9.13% and a negative net margin of 36.53%. The business had revenue of $166.00 million during the quarter, compared to the consensus estimate of $165.50 million. During the same quarter in the prior year, the company earned $0.48 earnings per share. The firm’s quarterly revenue was down 18.5% compared to the same quarter last year. As a group, equities analysts expect that Silicon Laboratories will post -3.41 EPS for the current fiscal year.

Insider Transactions at Silicon Laboratories

In related news, SVP Brandon Tolany sold 845 shares of Silicon Laboratories stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $115.00, for a total value of $97,175.00. Following the completion of the sale, the senior vice president now directly owns 43,615 shares in the company, valued at $5,015,725. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.72% of the company’s stock.

Hedge Funds Weigh In On Silicon Laboratories

A number of large investors have recently bought and sold shares of SLAB. Vanguard Group Inc. increased its holdings in Silicon Laboratories by 0.7% in the first quarter. Vanguard Group Inc. now owns 3,489,160 shares of the semiconductor company’s stock valued at $501,462,000 after buying an additional 24,997 shares in the last quarter. Capital Research Global Investors increased its stake in shares of Silicon Laboratories by 29.9% during the first quarter. Capital Research Global Investors now owns 1,217,939 shares of the semiconductor company’s stock worth $175,042,000 after purchasing an additional 280,000 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Silicon Laboratories by 2.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 639,065 shares of the semiconductor company’s stock valued at $70,699,000 after buying an additional 12,680 shares in the last quarter. Van Berkom & Associates Inc. boosted its holdings in Silicon Laboratories by 8.4% in the 2nd quarter. Van Berkom & Associates Inc. now owns 609,232 shares of the semiconductor company’s stock worth $67,399,000 after buying an additional 47,058 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in shares of Silicon Laboratories by 2.2% during the second quarter. Federated Hermes Inc. now owns 545,833 shares of the semiconductor company’s stock worth $60,386,000 after purchasing an additional 11,981 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.