Summit Insights Lowers Silicon Laboratories (NASDAQ:SLAB) to Hold

Summit Insights lowered shares of Silicon Laboratories (NASDAQ:SLAB) from a buy rating to a hold rating in a report issued on Wednesday morning, MarketBeat reports.

SLAB has been the topic of a number of other research reports. Barclays lifted their target price on Silicon Laboratories from $120.00 to $140.00 and gave the company an equal weight rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. lifted their target price on Silicon Laboratories from $145.00 to $165.00 and gave the company an overweight rating in a research report on Thursday, February 8th. StockNews.com downgraded Silicon Laboratories from a hold rating to a sell rating in a research report on Friday, December 29th. Stifel Nicolaus lifted their target price on Silicon Laboratories from $136.00 to $155.00 and gave the company a buy rating in a research report on Tuesday, January 2nd. Finally, TD Cowen boosted their price target on Silicon Laboratories from $140.00 to $155.00 and gave the stock an outperform rating in a research report on Thursday, February 8th. One equities research 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 stock has an average rating of Hold and a consensus target price of $135.00.

Silicon Laboratories Price Performance

SLAB opened at $122.13 on Wednesday. The business’s 50-day moving average price is $133.57 and its two-hundred day moving average price is $122.15. Silicon Laboratories has a 1 year low of $74.56 and a 1 year high of $166.94. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of -36.90 and a beta of 1.27.

Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Wednesday, April 24th. The semiconductor company reported ($1.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.29) by ($0.05). The company had revenue of $106.38 million during the quarter, compared to analyst estimates of $104.45 million. Silicon Laboratories had a negative net margin of 16.36% and a negative return on equity of 4.45%. Sell-side analysts anticipate that Silicon Laboratories will post -1.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Silicon Laboratories

A number of institutional investors have recently made changes to their positions in SLAB. Global Retirement Partners LLC boosted its holdings in shares of Silicon Laboratories by 31.7% during the third quarter. Global Retirement Partners LLC now owns 507 shares of the semiconductor company’s stock worth $58,000 after acquiring an additional 122 shares during the period. SG Americas Securities LLC bought a new stake in shares of Silicon Laboratories during the third quarter worth approximately $380,000. Raymond James & Associates boosted its holdings in shares of Silicon Laboratories by 14.2% during the third quarter. Raymond James & Associates now owns 79,046 shares of the semiconductor company’s stock worth $9,161,000 after acquiring an additional 9,845 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Silicon Laboratories by 20.0% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 733 shares of the semiconductor company’s stock worth $85,000 after acquiring an additional 122 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Silicon Laboratories by 6.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,372 shares of the semiconductor company’s stock worth $738,000 after acquiring an additional 403 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.