Silicon Laboratories, Inc. (NASDAQ:SLAB) Stock Has Average Price Target of $218.00

Shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) have been given an average rating of “Reduce” by the seven brokerages that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $218.00.

Several analysts have issued reports on SLAB shares. Weiss Ratings restated a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Monday, September 21st. Wall Street Zen raised shares of Silicon Laboratories to a “hold” rating in a research report on Saturday. Finally, Zacks Research cut shares of Silicon Laboratories from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 18th.

Silicon Laboratories Trading Up 0.1%

SLAB opened at $222.04 on Friday. Silicon Laboratories has a 1-year low of $115.50 and a 1-year high of $223.50. The stock has a market capitalization of $7.41 billion, a price-to-earnings ratio of -188.17 and a beta of 1.33. The business has a 50 day moving average of $219.94 and a 200-day moving average of $217.29.

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

Institutional Trading of Silicon Laboratories

Hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Silicon Laboratories during the second quarter valued at $1,135,435,000. HBK Investments L P bought a new stake in shares of Silicon Laboratories in the 2nd quarter worth about $218,560,000. Pentwater Capital Management LP acquired a new stake in shares of Silicon Laboratories during the 2nd quarter worth about $162,111,000. Norges Bank acquired a new stake in shares of Silicon Laboratories during the 4th quarter worth about $56,008,000. Finally, Hsbc Holdings PLC bought a new position in Silicon Laboratories during the 2nd quarter valued at about $67,455,000.

About Silicon Laboratories

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.