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

Silicon Laboratories (NASDAQ:SLAB) had its price target cut by Citigroup from $137.00 to $120.00 in a report issued on Thursday, Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

A number of other equities research analysts also recently commented on the company. StockNews.com downgraded Silicon Laboratories from a hold rating to a sell rating in a research report on Friday, December 29th. Stifel Nicolaus increased 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. Benchmark restated a hold rating on shares of Silicon Laboratories in a research report on Thursday. Barclays decreased their price target on shares of Silicon Laboratories from $140.00 to $120.00 and set an equal weight rating on the stock in a research note on Thursday. Finally, Summit Insights downgraded shares of Silicon Laboratories from a buy rating to a hold rating in a report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $135.00.

Silicon Laboratories Trading Up 2.7 %

Silicon Laboratories stock opened at $122.13 on Thursday. Silicon Laboratories has a 1 year low of $74.56 and a 1 year high of $166.94. The firm’s 50 day moving average price is $133.57 and its 200-day moving average price is $122.23.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly 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 the consensus estimate of $104.45 million. Silicon Laboratories had a negative net margin of 16.36% and a negative return on equity of 4.45%. On average, equities analysts forecast that Silicon Laboratories will post -1.66 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SLAB. Venturi Wealth Management LLC bought a new stake in shares of Silicon Laboratories during the 3rd quarter worth approximately $30,000. GAMMA Investing LLC bought a new stake in shares of Silicon Laboratories during the fourth quarter worth $36,000. Gladius Capital Management LP boosted its stake in shares of Silicon Laboratories by 328.7% during the fourth quarter. Gladius Capital Management LP now owns 373 shares of the semiconductor company’s stock valued at $49,000 after purchasing an additional 286 shares during the period. CWM LLC grew its holdings in shares of Silicon Laboratories by 78.1% in the fourth quarter. CWM LLC now owns 374 shares of the semiconductor company’s stock worth $49,000 after purchasing an additional 164 shares during the last quarter. Finally, Global Retirement Partners LLC increased its stake in Silicon Laboratories by 31.7% in the 3rd quarter. Global Retirement Partners LLC now owns 507 shares of the semiconductor company’s stock worth $58,000 after buying an additional 122 shares during the period.

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.