Silicon Laboratories (NASDAQ:SLAB) Price Target Cut to $97.00 by Analysts at Morgan Stanley

Silicon Laboratories (NASDAQ:SLAB) had its target price lowered by Morgan Stanley from $123.00 to $97.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the semiconductor company’s stock.

A number of other equities research analysts have also recently commented on SLAB. Needham & Company LLC reissued a “buy” rating and issued a $150.00 price objective on shares of Silicon Laboratories in a research note on Thursday, July 25th. Barclays decreased their price target on shares of Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. lowered their price objective on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday. Benchmark reissued a “hold” rating on shares of Silicon Laboratories in a research report on Tuesday. Finally, Stifel Nicolaus dropped their price target on shares of Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $121.50.

Silicon Laboratories Stock Down 1.4 %

Silicon Laboratories stock opened at $112.10 on Tuesday. The company has a market capitalization of $3.64 billion, a PE ratio of -15.15 and a beta of 1.20. The firm’s fifty day moving average is $112.09 and its 200 day moving average is $115.42. Silicon Laboratories has a 12-month low of $92.55 and a 12-month high of $154.91.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings data on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.07. The firm had revenue of $166.00 million for the quarter, compared to analyst estimates of $165.50 million. Silicon Laboratories had a negative net margin of 46.93% and a negative return on equity of 12.60%. The business’s quarterly revenue was down 18.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.48 earnings per share. Sell-side analysts expect that Silicon Laboratories will post -3.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other Silicon Laboratories news, SVP Brandon Tolany sold 845 shares of Silicon Laboratories stock in a transaction that occurred 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 owns 43,615 shares of the company’s stock, valued at $5,015,725. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.72% of the stock is currently owned by insiders.

Institutional Trading of Silicon Laboratories

A number of institutional investors and hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. boosted its position in Silicon Laboratories by 159.4% in the third quarter. Advisors Asset Management Inc. now owns 275 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 169 shares during the last quarter. Premier Fund Managers Ltd bought a new stake in shares of Silicon Laboratories during the 3rd quarter worth $934,000. Meeder Asset Management Inc. boosted its holdings in shares of Silicon Laboratories by 250.1% in the 3rd quarter. Meeder Asset Management Inc. now owns 3,743 shares of the semiconductor company’s stock worth $433,000 after buying an additional 2,674 shares during the last quarter. Quest Partners LLC bought a new position in Silicon Laboratories during the third quarter valued at about $426,000. Finally, Thrivent Financial for Lutherans increased its holdings in Silicon Laboratories by 10.4% during the third quarter. Thrivent Financial for Lutherans now owns 131,548 shares of the semiconductor company’s stock worth $15,203,000 after buying an additional 12,435 shares during the last quarter.

About Silicon Laboratories

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.