Silicon Laboratories (NASDAQ:SLAB) Shares Gap Down on Analyst Downgrade

Silicon Laboratories Inc. (NASDAQ:SLAB)’s share price gapped down before the market opened on Tuesday after Morgan Stanley lowered their price target on the stock from $123.00 to $97.00. The stock had previously closed at $104.74, but opened at $96.60. Morgan Stanley currently has an equal weight rating on the stock. Silicon Laboratories shares last traded at $102.53, with a volume of 115,830 shares traded.

SLAB has been the subject of several other reports. Stifel Nicolaus decreased their price target on shares of Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $150.00 target price on shares of Silicon Laboratories in a research report on Thursday, July 25th. StockNews.com upgraded Silicon Laboratories to a “sell” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. decreased their price objective on Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, KeyCorp cut their target price on Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating on the stock in a report on Tuesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $121.50.

Insider Transactions at Silicon Laboratories

In other Silicon Laboratories news, SVP Brandon Tolany sold 845 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $115.00, for a total transaction of $97,175.00. Following the sale, the senior vice president now directly owns 43,615 shares of the company’s stock, valued at $5,015,725. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.72% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Silicon Laboratories

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Silicon Laboratories by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 3,489,160 shares of the semiconductor company’s stock valued at $501,462,000 after buying an additional 24,997 shares in the last quarter. Capital Research Global Investors grew its stake in Silicon Laboratories by 29.9% during the first quarter. Capital Research Global Investors now owns 1,217,939 shares of the semiconductor company’s stock valued at $175,042,000 after acquiring an additional 280,000 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Silicon Laboratories by 2.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 639,065 shares of the semiconductor company’s stock valued at $70,699,000 after purchasing an additional 12,680 shares in the last quarter. Van Berkom & Associates Inc. raised its position in shares of Silicon Laboratories by 8.4% in the second quarter. Van Berkom & Associates Inc. now owns 609,232 shares of the semiconductor company’s stock worth $67,399,000 after buying an additional 47,058 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in Silicon Laboratories by 2.2% during the second quarter. Federated Hermes Inc. now owns 545,833 shares of the semiconductor company’s stock valued at $60,386,000 after buying an additional 11,981 shares during the period.

Silicon Laboratories Stock Up 10.8 %

The firm has a market capitalization of $3.74 billion, a PE ratio of -14.12 and a beta of 1.20. The company has a 50-day moving average of $112.29 and a 200 day moving average of $115.48.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data on Monday, November 4th. The semiconductor company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.07. Silicon Laboratories had a negative return on equity of 12.40% and a negative net margin of 46.93%. The company had revenue of $166.00 million during the quarter, compared to analyst estimates of $165.50 million. During the same quarter in the previous year, the firm earned $0.48 earnings per share. Silicon Laboratories’s revenue was down 18.5% on a year-over-year basis. As a group, equities analysts anticipate that Silicon Laboratories Inc. will post -3.41 EPS for the current fiscal year.

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.