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

Silicon Laboratories (NASDAQ:SLAB) had its price objective trimmed by Citigroup from $137.00 to $120.00 in a research report report published on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the semiconductor company’s stock.

Several other brokerages have also recently weighed in on SLAB. Stifel Nicolaus upped their target price on Silicon Laboratories from $136.00 to $155.00 and gave the stock a buy rating in a report on Tuesday, January 2nd. StockNews.com lowered Silicon Laboratories from a hold rating to a sell rating in a research report on Friday, December 29th. Benchmark reissued a hold rating on shares of Silicon Laboratories in a research report on Thursday. Summit Insights lowered Silicon Laboratories from a buy rating to a hold rating in a research report on Wednesday. Finally, Needham & Company LLC raised Silicon Laboratories from a hold rating to a buy rating and set a $150.00 price target for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $135.00.

Silicon Laboratories Trading Up 2.7 %

Shares of SLAB stock opened at $122.13 on Thursday. Silicon Laboratories has a twelve month low of $74.56 and a twelve month high of $166.94. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of -36.90 and a beta of 1.27. The stock has a fifty day simple moving average of $133.57 and a two-hundred day simple moving average of $122.19.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Venturi Wealth Management LLC acquired a new position in Silicon Laboratories during the 3rd quarter valued at about $30,000. GAMMA Investing LLC acquired a new position in Silicon Laboratories during the 4th quarter valued at about $36,000. Gladius Capital Management LP increased its position in Silicon Laboratories by 328.7% during the 4th quarter. Gladius Capital Management LP now owns 373 shares of the semiconductor company’s stock valued at $49,000 after buying an additional 286 shares in the last quarter. CWM LLC increased its position in Silicon Laboratories by 78.1% during the 4th quarter. CWM LLC now owns 374 shares of the semiconductor company’s stock valued at $49,000 after buying an additional 164 shares in the last quarter. Finally, Mather Group LLC. acquired a new position in Silicon Laboratories during the 1st quarter valued at about $63,000.

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.