Silicon Laboratories (NASDAQ:SLAB) Coverage Initiated at Susquehanna

Research analysts at Susquehanna initiated coverage on shares of Silicon Laboratories (NASDAQ:SLAB) in a research report issued on Tuesday, Marketbeat Ratings reports. The firm set a “neutral” rating and a $130.00 price target on the semiconductor company’s stock. Susquehanna’s price objective would indicate a potential upside of 5.85% from the stock’s previous close.

SLAB has been the subject of a number of other reports. StockNews.com upgraded shares of Silicon Laboratories to a “sell” rating in a research report on Friday, November 8th. KeyCorp cut their price objective on shares of Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Barclays cut their price objective on shares of Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. Stifel Nicolaus cut their price objective on shares of Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Finally, Morgan Stanley cut their price objective on shares of Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $122.44.

Silicon Laboratories Stock Down 4.8 %

Shares of NASDAQ:SLAB opened at $122.82 on Tuesday. The firm has a market capitalization of $3.99 billion, a PE ratio of -16.60 and a beta of 1.21. Silicon Laboratories has a twelve month low of $94.00 and a twelve month high of $154.91. The company has a 50-day moving average price of $112.80 and a two-hundred day moving average price of $112.95.

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. The firm had revenue of $166.00 million during 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 company’s quarterly revenue was down 18.5% on a year-over-year basis. During the same quarter last year, the business earned $0.48 earnings per share. Analysts anticipate that Silicon Laboratories will post -3.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SLAB. Wellington Management Group LLP raised its stake in shares of Silicon Laboratories by 28.3% during the third quarter. Wellington Management Group LLP now owns 888,382 shares of the semiconductor company’s stock worth $102,670,000 after acquiring an additional 195,997 shares in the last quarter. Clearbridge Investments LLC raised its stake in shares of Silicon Laboratories by 84.0% during the second quarter. Clearbridge Investments LLC now owns 273,776 shares of the semiconductor company’s stock worth $30,288,000 after acquiring an additional 125,022 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Silicon Laboratories by 29.5% during the second quarter. American Century Companies Inc. now owns 316,407 shares of the semiconductor company’s stock worth $35,004,000 after acquiring an additional 72,138 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Silicon Laboratories during the third quarter worth approximately $7,408,000. Finally, FMR LLC raised its stake in shares of Silicon Laboratories by 1.1% during the third quarter. FMR LLC now owns 4,843,370 shares of the semiconductor company’s stock worth $559,748,000 after acquiring an additional 54,708 shares in 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.