Silicon Laboratories (NASDAQ:SLAB) Price Target Cut to $97.00 by Analysts at Morgan Stanley

Silicon Laboratories (NASDAQ:SLAB) had its price target cut by Morgan Stanley from $123.00 to $97.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have an equal weight rating on the semiconductor company’s stock.

A number of other brokerages have also recently issued reports on SLAB. Benchmark reiterated a “hold” rating on shares of Silicon Laboratories in a report on Tuesday. KeyCorp reduced their price objective on shares of Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating for the company in a report on Tuesday. StockNews.com upgraded shares of Silicon Laboratories to a “sell” rating in a report on Wednesday, October 30th. Needham & Company LLC reiterated a “buy” rating and set a $150.00 price target on shares of Silicon Laboratories in a research note on Thursday, July 25th. Finally, Stifel Nicolaus lowered their price objective on Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday. 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $121.50.

Silicon Laboratories Trading Down 0.3 %

NASDAQ:SLAB opened at $104.46 on Tuesday. The firm has a fifty day simple moving average of $112.56 and a two-hundred day simple moving average of $115.56. Silicon Laboratories has a 12 month low of $90.65 and a 12 month high of $154.91. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of -16.85 and a beta of 1.20.

Silicon Laboratories (NASDAQ:SLAB) last issued its earnings results on Monday, November 4th. The semiconductor company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.07. The business 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 9.13% and a negative net margin of 36.53%. The firm’s revenue was down 18.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.48 EPS. Equities analysts predict that Silicon Laboratories will post -3.41 earnings per share for the current fiscal year.

Insider Transactions at Silicon Laboratories

In related news, SVP Brandon Tolany sold 845 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 43,615 shares of the company’s stock, valued at approximately $5,015,725. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.72% of the company’s stock.

Hedge Funds Weigh In On Silicon Laboratories

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets increased its holdings in Silicon Laboratories by 5.9% during the first quarter. BNP Paribas Financial Markets now owns 44,997 shares of the semiconductor company’s stock worth $6,467,000 after buying an additional 2,526 shares during the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Silicon Laboratories during the 1st quarter worth approximately $55,000. Texas Permanent School Fund Corp raised its holdings in shares of Silicon Laboratories by 2.8% in the 1st quarter. Texas Permanent School Fund Corp now owns 27,916 shares of the semiconductor company’s stock worth $4,012,000 after purchasing an additional 768 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in Silicon Laboratories by 13.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 5,977 shares of the semiconductor company’s stock valued at $859,000 after purchasing an additional 709 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in Silicon Laboratories by 88.9% during the first quarter. SG Americas Securities LLC now owns 1,840 shares of the semiconductor company’s stock valued at $264,000 after purchasing an additional 866 shares during the period.

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.