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

Silicon Laboratories (NASDAQ:SLAB) was downgraded by stock analysts at Summit Insights from a “buy” rating to a “hold” rating in a research report issued on Wednesday, MarketBeat reports.

A number of other research analysts have also recently weighed in on the stock. StockNews.com cut shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. JPMorgan Chase & Co. lifted their target price on shares of Silicon Laboratories from $145.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Stifel Nicolaus lifted their target price on shares of Silicon Laboratories from $136.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, January 2nd. Barclays lifted their target price on shares of Silicon Laboratories from $120.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 8th. Finally, TD Cowen lifted their price target on shares of Silicon Laboratories from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $135.00.

Silicon Laboratories Trading Up 4.1 %

Shares of Silicon Laboratories stock opened at $118.93 on Wednesday. Silicon Laboratories has a 12-month low of $74.56 and a 12-month high of $166.94. The stock has a market cap of $3.79 billion, a PE ratio of -105.25 and a beta of 1.27. The company has a 50-day moving average of $134.38 and a two-hundred day moving average of $122.12.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported ($1.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.29) by ($0.05). Silicon Laboratories had a positive return on equity of 0.97% and a negative net margin of 4.41%. The business had revenue of $106.38 million for the quarter, compared to analysts’ expectations of $104.45 million. On average, sell-side analysts forecast that Silicon Laboratories will post -1.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Silicon Laboratories

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Silicon Laboratories by 5.5% in the 4th quarter. Vanguard Group Inc. now owns 3,464,163 shares of the semiconductor company’s stock worth $458,205,000 after buying an additional 179,131 shares in the last quarter. Capital Research Global Investors increased its position in shares of Silicon Laboratories by 73.9% in the 4th quarter. Capital Research Global Investors now owns 937,939 shares of the semiconductor company’s stock worth $124,061,000 after purchasing an additional 398,489 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Silicon Laboratories by 4.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 641,710 shares of the semiconductor company’s stock worth $84,884,000 after purchasing an additional 28,759 shares during the last quarter. Van Berkom & Associates Inc. increased its position in shares of Silicon Laboratories by 36.2% in the 3rd quarter. Van Berkom & Associates Inc. now owns 572,762 shares of the semiconductor company’s stock worth $66,377,000 after purchasing an additional 152,269 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in shares of Silicon Laboratories by 6.9% in the 4th quarter. Federated Hermes Inc. now owns 516,484 shares of the semiconductor company’s stock worth $68,315,000 after purchasing an additional 33,357 shares during the last quarter.

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.