JPMorgan Chase & Co. Cuts Silicon Laboratories (NASDAQ:SLAB) Price Target to $150.00

Silicon Laboratories (NASDAQ:SLAB) had its price target decreased by JPMorgan Chase & Co. from $165.00 to $150.00 in a research report released on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the semiconductor company’s stock.

Several other equities research analysts also recently issued reports on the company. Benchmark restated a hold rating on shares of Silicon Laboratories in a report on Thursday. TD Cowen decreased their price target on Silicon Laboratories from $155.00 to $145.00 and set a buy rating on the stock in a research note on Thursday. Summit Insights downgraded Silicon Laboratories from a buy rating to a hold rating in a report on Wednesday, April 24th. Stifel Nicolaus boosted their target price on Silicon Laboratories from $136.00 to $155.00 and gave the company a buy rating in a research report on Tuesday, January 2nd. Finally, Needham & Company LLC upgraded Silicon Laboratories from a hold rating to a buy rating and set a $150.00 target price on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Silicon Laboratories has an average rating of Hold and a consensus target price of $135.00.

Silicon Laboratories Stock Up 2.7 %

SLAB opened at $122.13 on Thursday. Silicon Laboratories has a twelve month low of $74.56 and a twelve month high of $166.94. The business’s 50 day moving average is $133.57 and its 200-day moving average is $122.23.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported ($1.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.29) by ($0.05). The company had revenue of $106.38 million during the quarter, compared to the consensus estimate of $104.45 million. Silicon Laboratories had a negative net margin of 16.36% and a negative return on equity of 4.45%. As a group, equities research analysts forecast that Silicon Laboratories will post -1.66 earnings per share for the current year.

Institutional Trading of Silicon Laboratories

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SLAB. Global Retirement Partners LLC raised its position in Silicon Laboratories by 31.7% in the 3rd quarter. Global Retirement Partners LLC now owns 507 shares of the semiconductor company’s stock worth $58,000 after purchasing an additional 122 shares during the period. SG Americas Securities LLC purchased a new stake in Silicon Laboratories in the 3rd quarter worth about $380,000. Raymond James & Associates raised its position in Silicon Laboratories by 14.2% in the 3rd quarter. Raymond James & Associates now owns 79,046 shares of the semiconductor company’s stock worth $9,161,000 after purchasing an additional 9,845 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its position in Silicon Laboratories by 20.0% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 733 shares of the semiconductor company’s stock worth $85,000 after purchasing an additional 122 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Silicon Laboratories by 6.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,372 shares of the semiconductor company’s stock worth $738,000 after purchasing an additional 403 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.