Silicon Laboratories (NASDAQ:SLAB) Given New $97.00 Price Target at Morgan Stanley

Silicon Laboratories (NASDAQ:SLAB) had its price target reduced by analysts at Morgan Stanley from $123.00 to $97.00 in a report issued on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s target price would suggest a potential downside of 16.16% from the company’s current price.

Other research analysts also recently issued research reports about the stock. StockNews.com raised shares of Silicon Laboratories to a “sell” rating in a research report on Wednesday, October 30th. Barclays reduced their price target on shares of Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. reduced their price objective on Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday. KeyCorp lowered their price target on shares of Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Stifel Nicolaus lowered their price target on Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $121.50.

Silicon Laboratories Price Performance

Silicon Laboratories stock opened at $115.70 on Tuesday. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of -15.64 and a beta of 1.20. The firm has a 50-day moving average of $112.29 and a two-hundred day moving average of $115.48. Silicon Laboratories has a 1 year low of $91.37 and a 1 year high of $154.91.

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

Insiders Place Their Bets

In other news, SVP Brandon Tolany sold 845 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $115.00, for a total value of $97,175.00. Following the completion of the sale, the senior vice president now owns 43,615 shares of the company’s stock, valued at $5,015,725. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.72% of the company’s stock.

Institutional Investors Weigh In On Silicon Laboratories

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Cullen Frost Bankers Inc. acquired a new stake in shares of Silicon Laboratories during the second quarter worth about $28,000. Fidelis Capital Partners LLC purchased a new stake in shares of Silicon Laboratories during the 1st quarter worth approximately $55,000. GAMMA Investing LLC lifted its position in Silicon Laboratories by 84.1% in the third quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock valued at $57,000 after acquiring an additional 227 shares during the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Silicon Laboratories in the 2nd quarter valued at about $60,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Silicon Laboratories in the second quarter valued at approximately $82,000.

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.