Silicon Laboratories (NASDAQ:SLAB) Price Target Cut to $145.00 by Analysts at TD Cowen

Silicon Laboratories (NASDAQ:SLAB) had its target price reduced by TD Cowen from $155.00 to $145.00 in a report issued on Thursday, Marketbeat Ratings reports. TD Cowen currently has a buy rating on the semiconductor company’s stock.

A number of other equities research analysts have also recently issued reports on the stock. Summit Insights cut shares of Silicon Laboratories from a buy rating to a hold rating in a research note on Wednesday. Needham & Company LLC upgraded Silicon Laboratories from a hold rating to a buy rating and set a $150.00 price objective on the stock in a report on Thursday. StockNews.com lowered Silicon Laboratories from a hold rating to a sell rating in a report on Friday, December 29th. JPMorgan Chase & Co. raised their price objective on Silicon Laboratories from $145.00 to $165.00 and gave the company an overweight rating in a report on Thursday, February 8th. Finally, Stifel Nicolaus raised their price objective on Silicon Laboratories from $136.00 to $155.00 and gave the company a buy rating in a report on Tuesday, January 2nd. 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 company. Based on data from MarketBeat, Silicon Laboratories presently has a consensus rating of Hold and a consensus target price of $135.00.

Silicon Laboratories Stock Performance

Silicon Laboratories stock opened at $122.13 on Thursday. The company’s fifty day moving average price is $133.57 and its 200 day moving average price is $122.19. Silicon Laboratories has a 1 year low of $74.56 and a 1 year high of $166.94. The stock has a market capitalization of $3.90 billion, a P/E ratio of -36.90 and a beta of 1.27.

Silicon Laboratories (NASDAQ:SLAB) last released 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). Silicon Laboratories had a negative net margin of 16.36% and a negative return on equity of 4.45%. The company had revenue of $106.38 million during the quarter, compared to analyst estimates of $104.45 million. Sell-side analysts predict that Silicon Laboratories will post -1.66 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SLAB. Pathstone Holdings LLC acquired a new position in shares of Silicon Laboratories during the 4th quarter valued at about $58,205,000. Capital Research Global Investors boosted its position in shares of Silicon Laboratories by 73.9% during the 4th quarter. Capital Research Global Investors now owns 937,939 shares of the semiconductor company’s stock valued at $124,061,000 after acquiring an additional 398,489 shares during the last quarter. Norges Bank acquired a new position in shares of Silicon Laboratories during the 4th quarter valued at about $28,907,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of Silicon Laboratories during the 3rd quarter valued at about $24,453,000. Finally, Vanguard Group Inc. boosted its position in shares of Silicon Laboratories by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 3,464,163 shares of the semiconductor company’s stock valued at $458,205,000 after acquiring an additional 179,131 shares during the last quarter.

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.