Stifel Nicolaus Cuts Silicon Laboratories (NASDAQ:SLAB) Price Target to $135.00

Silicon Laboratories (NASDAQ:SLAB) had its target price trimmed by Stifel Nicolaus from $160.00 to $135.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

Other research analysts have also issued research reports about the stock. StockNews.com raised shares of Silicon Laboratories to a “sell” rating in a research note on Wednesday, October 30th. Needham & Company LLC reissued a “buy” rating and set a $150.00 price target on shares of Silicon Laboratories in a research report on Thursday, July 25th. KeyCorp reduced their price target on shares of Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Barclays reduced their price target on shares of Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Silicon Laboratories has an average rating of “Hold” and an average price target of $121.50.

Silicon Laboratories Price Performance

Shares of SLAB stock opened at $113.65 on Tuesday. The firm has a market cap of $3.67 billion, a PE ratio of -15.36 and a beta of 1.20. The company has a 50-day moving average of $112.22 and a two-hundred day moving average of $115.47. Silicon Laboratories has a 1-year low of $92.55 and a 1-year high of $154.91.

Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share for the quarter, topping the consensus estimate 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%. Silicon Laboratories’s revenue was down 18.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.48 earnings per share. Sell-side analysts anticipate that Silicon Laboratories will post -3.41 EPS for the current fiscal year.

Insider Activity at Silicon Laboratories

In related news, SVP Brandon Tolany sold 845 shares of the firm’s 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 sale, the senior vice president now owns 43,615 shares of the company’s stock, valued at $5,015,725. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.72% of the stock is owned by corporate insiders.

Institutional Trading of Silicon Laboratories

Hedge funds have recently added to or reduced their stakes in the company. CWM LLC raised its holdings in Silicon Laboratories by 185.0% in the second quarter. CWM LLC now owns 8,435 shares of the semiconductor company’s stock valued at $933,000 after acquiring an additional 5,475 shares in the last quarter. Natixis purchased a new position in Silicon Laboratories in the first quarter valued at approximately $647,000. Vanguard Group Inc. increased its stake in Silicon Laboratories by 0.7% in the first quarter. Vanguard Group Inc. now owns 3,489,160 shares of the semiconductor company’s stock valued at $501,462,000 after purchasing an additional 24,997 shares during the last quarter. SG Americas Securities LLC increased its stake in Silicon Laboratories by 284.6% in the second quarter. SG Americas Securities LLC now owns 7,076 shares of the semiconductor company’s stock valued at $783,000 after purchasing an additional 5,236 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Silicon Laboratories by 31.7% in the first quarter. Russell Investments Group Ltd. now owns 52,578 shares of the semiconductor company’s stock valued at $7,557,000 after purchasing an additional 12,667 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.