Silicon Laboratories (NASDAQ:SLAB) Given New $80.00 Price Target at Barclays

by · The Cerbat Gem

Silicon Laboratories (NASDAQ:SLAB – Free Report) had its target price cut by Barclays from $120.00 to $80.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an equal weight rating on the semiconductor company’s stock.

Several other equities analysts also recently weighed in on SLAB. Stifel Nicolaus reduced their target price on Silicon Laboratories from $145.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. KeyCorp raised their target price on shares of Silicon Laboratories from $115.00 to $160.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Benchmark restated a “buy” rating and issued a $160.00 target price on shares of Silicon Laboratories in a report on Wednesday, March 12th. StockNews.com lowered shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a report on Thursday, March 27th. Finally, Needham & Company LLC reissued a “buy” rating and set a $150.00 price objective on shares of Silicon Laboratories in a research note on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $129.70.

Get Our Latest Research Report on SLAB

Silicon Laboratories Price Performance

Silicon Laboratories stock opened at $94.32 on Tuesday. The firm’s 50-day moving average is $119.66 and its two-hundred day moving average is $121.28. The stock has a market capitalization of $3.06 billion, a P/E ratio of -15.88 and a beta of 1.33. Silicon Laboratories has a 12-month low of $82.82 and a 12-month high of $160.00.

Silicon Laboratories (NASDAQ:SLAB – Get Free Report) last released its earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) EPS for the quarter, hitting the consensus estimate of ($0.11). The firm had revenue of $166.25 million during the quarter, compared to analysts’ expectations of $166.09 million. Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. During the same period in the previous year, the company earned ($1.19) EPS. Silicon Laboratories’s revenue for the quarter was up 91.4% on a year-over-year basis. As a group, analysts forecast that Silicon Laboratories will post -0.97 EPS for the current year.

Insider Transactions at Silicon Laboratories

In other Silicon Laboratories news, Director William G. Bock sold 1,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $149.43, for a total value of $149,430.00. Following the completion of the transaction, the director now directly owns 31,115 shares of the company’s stock, valued at $4,649,514.45. This represents a 3.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Navdeep S. Sooch sold 2,360 shares of Silicon Laboratories stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total value of $351,640.00. Following the sale, the director now directly owns 400,567 shares in the company, valued at approximately $59,684,483. The trade was a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Silicon Laboratories

Hedge funds have recently bought and sold shares of the business. Barclays PLC boosted its stake in shares of Silicon Laboratories by 23.4% during the 3rd quarter. Barclays PLC now owns 70,568 shares of the semiconductor company’s stock valued at $8,157,000 after buying an additional 13,363 shares during the last quarter. Tidal Investments LLC acquired a new stake in Silicon Laboratories in the third quarter valued at $520,000. Franklin Resources Inc. boosted its stake in Silicon Laboratories by 1.9% during the 3rd quarter. Franklin Resources Inc. now owns 231,889 shares of the semiconductor company’s stock valued at $27,001,000 after acquiring an additional 4,278 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new position in Silicon Laboratories during the 3rd quarter worth $694,000. Finally, Park Avenue Securities LLC bought a new stake in shares of Silicon Laboratories in the 4th quarter worth about $268,000.

About Silicon Laboratories

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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.

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