Silicon Laboratories (NASDAQ:SLAB) Price Target Cut to $135.00 by Analysts at JPMorgan Chase & Co.

Silicon Laboratories (NASDAQ:SLAB) had its price objective reduced by JPMorgan Chase & Co. from $150.00 to $135.00 in a research note released on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the semiconductor company’s stock.

SLAB has been the subject of a number of other research reports. KeyCorp dropped their price objective on shares of Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating for the company in a report on Tuesday. StockNews.com upgraded Silicon Laboratories to a “sell” rating in a report on Wednesday, October 30th. Barclays decreased their price objective on Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating for the company in a research note on Tuesday. Stifel Nicolaus cut their target price on shares of Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $150.00 price target 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 MarketBeat.com, Silicon Laboratories currently has an average rating of “Hold” and a consensus price target of $121.50.

Silicon Laboratories Stock Performance

NASDAQ:SLAB opened at $112.10 on Tuesday. Silicon Laboratories has a fifty-two week low of $92.55 and a fifty-two week high of $154.91. The company has a 50 day moving average price of $112.09 and a 200 day moving average price of $115.42. The stock has a market capitalization of $3.64 billion, a P/E ratio of -15.15 and a beta of 1.20.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings results on Monday, November 4th. The semiconductor company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.07. The business had revenue of $166.00 million during the quarter, compared to analyst estimates of $165.50 million. Silicon Laboratories had a negative return on equity of 12.60% and a negative net margin of 46.93%. The company’s quarterly revenue was down 18.5% on a year-over-year basis. During the same period last year, the business posted $0.48 earnings per share. Research analysts forecast that Silicon Laboratories will post -3.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Silicon Laboratories

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cullen Frost Bankers Inc. acquired a new stake in shares of Silicon Laboratories in the second quarter valued at about $28,000. Advisors Asset Management Inc. raised its position in Silicon Laboratories by 159.4% during the third quarter. Advisors Asset Management Inc. now owns 275 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 169 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in Silicon Laboratories during the first quarter worth about $55,000. GAMMA Investing LLC raised its position in Silicon Laboratories by 84.1% during the third quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock worth $57,000 after acquiring an additional 227 shares during the last quarter. Finally, Daiwa Securities Group Inc. acquired a new position in Silicon Laboratories during the second quarter worth about $60,000.

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.