Zacks Research Upgrades Silicon Laboratories (NASDAQ:SLAB) to “Hold”

Silicon Laboratories (NASDAQ:SLAB) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday, Zacks reports.

A number of other research analysts also recently commented on SLAB. Wall Street Zen raised shares of Silicon Laboratories to a “hold” rating in a research note on Saturday. Weiss Ratings reissued a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Monday, September 21st. Six analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Silicon Laboratories has a consensus rating of “Reduce” and a consensus target price of $218.00.

Silicon Laboratories Stock Down 0.2%

Shares of NASDAQ:SLAB opened at $221.15 on Monday. The company has a market cap of $7.38 billion, a P/E ratio of -187.42 and a beta of 1.33. Silicon Laboratories has a 52 week low of $115.50 and a 52 week high of $223.50. The business has a fifty day simple moving average of $220.07 and a 200-day simple moving average of $217.56.

Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Tuesday, August 11th. The semiconductor company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. Silicon Laboratories had a negative return on equity of 0.66% and a negative net margin of 4.57%. The firm had revenue of $228.19 million during the quarter, compared to analyst estimates of $227.99 million. During the same period in the prior year, the firm posted $0.11 earnings per share. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. Sell-side analysts expect that Silicon Laboratories will post 0.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Silicon Laboratories

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of Silicon Laboratories by 30.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,240 shares of the semiconductor company’s stock worth $275,000 after purchasing an additional 289 shares during the period. Cim Investment Management Inc. lifted its stake in shares of Silicon Laboratories by 7.5% in the 2nd quarter. Cim Investment Management Inc. now owns 1,151 shares of the semiconductor company’s stock valued at $252,000 after purchasing an additional 80 shares in the last quarter. HBK Investments L P purchased a new stake in shares of Silicon Laboratories during the 2nd quarter worth about $218,560,000. Sequoia Financial Advisors LLC grew its holdings in shares of Silicon Laboratories by 191.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 3,539 shares of the semiconductor company’s stock worth $773,000 after purchasing an additional 2,324 shares during the period. Finally, Tidal Investments LLC grew its holdings in shares of Silicon Laboratories by 99.1% during the 2nd quarter. Tidal Investments LLC now owns 4,936 shares of the semiconductor company’s stock worth $1,079,000 after purchasing an additional 2,457 shares during the period.

Silicon Laboratories Company Profile

Silicon Laboratories Inc is a fabless semiconductor company focused on wireless connectivity solutions for the Internet of Things (IoT). The company develops technologies that enable connected devices to communicate, sense, and operate efficiently across residential, commercial, industrial, and consumer applications.

Its product portfolio includes wireless system-on-chips, microcontrollers, modules, sensors, development kits, software, and development tools. Silicon Labs supports technologies and protocols such as Bluetooth, Wi-Fi, Zigbee, Thread, Matter, and proprietary sub-GHz wireless communications.