Stifel Nicolaus Lowers Silicon Laboratories (NASDAQ:SLAB) Price Target to $135.00

Silicon Laboratories (NASDAQ:SLAB) had its price objective cut by analysts at Stifel Nicolaus from $160.00 to $135.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 16.68% from the stock’s current price.

A number of other research firms also recently issued reports on SLAB. KeyCorp dropped their price target on Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating on the stock in a research note on Tuesday. Barclays dropped their target price on Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Tuesday. StockNews.com raised shares of Silicon Laboratories to a “sell” rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $150.00 price objective on shares of Silicon Laboratories in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $121.50.

Silicon Laboratories Price Performance

SLAB stock opened at $115.70 on Tuesday. The stock has a market capitalization of $3.74 billion, a P/E ratio of -15.64 and a beta of 1.20. Silicon Laboratories has a 1-year low of $91.37 and a 1-year high of $154.91. The business has a fifty day moving average price of $112.29 and a 200-day moving average price of $115.48.

Silicon Laboratories (NASDAQ:SLAB) last issued its earnings results on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.07. Silicon Laboratories had a negative return on equity of 12.40% and a negative net margin of 46.93%. The business had revenue of $166.00 million during the quarter, compared to analyst estimates of $165.50 million. During the same quarter in the previous year, the firm earned $0.48 EPS. Silicon Laboratories’s revenue was down 18.5% on a year-over-year basis. As a group, analysts anticipate that Silicon Laboratories will post -3.41 earnings per share for the current year.

Insider Buying and Selling

In other Silicon Laboratories news, SVP Brandon Tolany sold 845 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $115.00, for a total value of $97,175.00. Following the transaction, the senior vice president now owns 43,615 shares of the company’s stock, valued at $5,015,725. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Silicon Laboratories

Hedge funds have recently added to or reduced their stakes in the stock. Cullen Frost Bankers Inc. purchased a new stake in shares of Silicon Laboratories in the second quarter valued at approximately $28,000. Fidelis Capital Partners LLC bought a new stake in Silicon Laboratories during the 1st quarter valued at $55,000. GAMMA Investing LLC lifted its holdings in shares of Silicon Laboratories by 84.1% in the 3rd quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock worth $57,000 after buying an additional 227 shares during the period. Daiwa Securities Group Inc. bought a new position in shares of Silicon Laboratories during the 2nd quarter worth $60,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Silicon Laboratories during the second quarter valued at $82,000.

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.