Silicon Laboratories (NASDAQ:SLAB) Downgraded to Hold at Summit Insights

Silicon Laboratories (NASDAQ:SLAB) was downgraded by research analysts at Summit Insights from a “buy” rating to a “hold” rating in a research note issued on Wednesday, FinViz reports.

SLAB has been the subject of several other reports. StockNews.com cut shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a research report on Friday, December 29th. Barclays upped their price objective on shares of Silicon Laboratories from $120.00 to $140.00 and gave the stock an “equal weight” rating in a report on Thursday, February 8th. TD Cowen increased their target price on shares of Silicon Laboratories from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, February 8th. Stifel Nicolaus increased their price target on shares of Silicon Laboratories from $136.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, January 2nd. Finally, JPMorgan Chase & Co. increased their price target on shares of Silicon Laboratories from $145.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $143.29.

Silicon Laboratories Stock Performance

Shares of NASDAQ:SLAB traded down $8.34 during midday trading on Wednesday, reaching $117.07. 306,328 shares of the company’s stock were exchanged, compared to its average volume of 308,426. Silicon Laboratories has a 12 month low of $74.56 and a 12 month high of $166.94. The firm has a market capitalization of $3.74 billion, a PE ratio of -104.18 and a beta of 1.27. The company’s 50 day simple moving average is $134.92 and its two-hundred day simple moving average is $122.17.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings data on Wednesday, February 7th. The semiconductor company reported ($1.46) earnings per share for the quarter, beating the consensus estimate of ($1.91) by $0.45. The business had revenue of $86.85 million for the quarter, compared to analyst estimates of $85.32 million. Silicon Laboratories had a negative net margin of 4.41% and a positive return on equity of 0.97%. On average, research analysts anticipate that Silicon Laboratories will post -1.66 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SLAB. Park Avenue Securities LLC purchased a new stake in shares of Silicon Laboratories during the 3rd quarter worth approximately $339,000. Federated Hermes Inc. raised its holdings in shares of Silicon Laboratories by 6.9% during the 4th quarter. Federated Hermes Inc. now owns 516,484 shares of the semiconductor company’s stock worth $68,315,000 after acquiring an additional 33,357 shares in the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of Silicon Laboratories during the 3rd quarter worth approximately $30,000. Schonfeld Strategic Advisors LLC purchased a new stake in Silicon Laboratories during the 3rd quarter valued at $3,652,000. Finally, Envestnet Asset Management Inc. raised its holdings in Silicon Laboratories by 37.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 90,289 shares of the semiconductor company’s stock valued at $10,464,000 after buying an additional 24,468 shares during the period.

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.