Silicon Laboratories, Inc. (NASDAQ:SLAB) Stock Now Rated “Reduce” by Wall Street Analysts

Shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) have earned a consensus recommendation of “Reduce” from the seven brokerages that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $218.00.

Several research analysts have recently issued reports on the company. Wall Street Zen raised Silicon Laboratories to a “hold” rating in a research report on Saturday, October 10th. Zacks Research upgraded shares of Silicon Laboratories from a “strong sell” rating to a “hold” rating in a report on Monday, October 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Silicon Laboratories in a research note on Monday, September 21st.

Silicon Laboratories Trading Up 0.1%

Shares of Silicon Laboratories stock opened at $222.34 on Wednesday. The firm has a market capitalization of $7.42 billion, a PE ratio of -188.42 and a beta of 1.20. Silicon Laboratories has a 12 month low of $115.50 and a 12 month high of $223.50. The business’s 50-day moving average price is $220.92 and its 200-day moving average price is $210.97.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings results on Tuesday, August 11th. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 0.66% and a negative net margin of 4.57%. Silicon Laboratories’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period last year, the company earned $0.11 EPS. As a group, analysts predict that Silicon Laboratories will post 0.52 earnings per share for the current fiscal year.

Institutional Trading of Silicon Laboratories

Hedge funds have recently bought and sold shares of the stock. Ethic Inc. raised its position in Silicon Laboratories by 22.9% in the third quarter. Ethic Inc. now owns 3,184 shares of the semiconductor company’s stock valued at $706,000 after purchasing an additional 594 shares during the period. Pictet Asset Management Holding SA increased its stake in Silicon Laboratories by 4.4% during the 3rd quarter. Pictet Asset Management Holding SA now owns 5,481 shares of the semiconductor company’s stock worth $1,214,000 after buying an additional 230 shares during the period. Parallel Advisors LLC raised its stake in shares of Silicon Laboratories by 54.4% in the third quarter. Parallel Advisors LLC now owns 2,132 shares of the semiconductor company’s stock valued at $472,000 after acquiring an additional 751 shares in the last quarter. Alps Advisors Inc. grew its stake in Silicon Laboratories by 3.0% during the 3rd quarter. Alps Advisors Inc. now owns 3,251 shares of the semiconductor company’s stock worth $720,000 after purchasing an additional 96 shares in the last quarter. Finally, Covestor Ltd grew its stake in Silicon Laboratories by 206.5% during the 3rd quarter. Covestor Ltd now owns 190 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 128 shares in the last quarter.

About Silicon Laboratories

Silicon Laboratories Inc is a fabless semiconductor company that develops technologies for the Internet of Things (IoT). The company provides integrated circuits, wireless modules, software and development tools that help manufacturers connect, monitor and control devices used in residential, commercial and industrial applications.

Its product portfolio includes wireless system-on-chip devices and modules supporting technologies such as Bluetooth, Wi-Fi, Zigbee, Thread, Matter, Z-Wave and proprietary sub-GHz protocols.