Silicon Laboratories (NASDAQ:SLAB) Price Target Raised to $120.00 at Barclays

Silicon Laboratories (NASDAQ:SLAB) had its price objective boosted by stock analysts at Barclays from $75.00 to $120.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the semiconductor company’s stock. Barclays‘s price objective indicates a potential downside of 9.43% from the stock’s previous close.

SLAB has been the topic of several other research reports. StockNews.com raised shares of Silicon Laboratories to a “sell” rating in a research report on Friday, November 8th. Benchmark reissued a “hold” rating on shares of Silicon Laboratories in a report on Tuesday, November 5th. Susquehanna assumed coverage on Silicon Laboratories in a report on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Finally, Stifel Nicolaus raised their target price on Silicon Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Silicon Laboratories currently has an average rating of “Hold” and an average target price of $128.56.

Silicon Laboratories Trading Down 3.7 %

Shares of NASDAQ SLAB opened at $132.50 on Friday. The firm has a market cap of $4.30 billion, a price-to-earnings ratio of -17.91 and a beta of 1.17. The stock has a fifty day simple moving average of $119.61 and a two-hundred day simple moving average of $114.69. Silicon Laboratories has a 1-year low of $94.00 and a 1-year high of $154.91.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings results on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.07. Silicon Laboratories had a negative return on equity of 12.60% and a negative net margin of 46.93%. The company had revenue of $166.00 million during the quarter, compared to the consensus estimate of $165.50 million. During the same quarter in the prior year, the company earned $0.48 EPS. The firm’s quarterly revenue was down 18.5% compared to the same quarter last year. Analysts forecast that Silicon Laboratories will post -3.56 EPS for the current year.

Institutional Trading of Silicon Laboratories

Several institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP increased its position in shares of Silicon Laboratories by 28.3% in the third quarter. Wellington Management Group LLP now owns 888,382 shares of the semiconductor company’s stock worth $102,670,000 after purchasing an additional 195,997 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of Silicon Laboratories by 84.0% in the 2nd quarter. Clearbridge Investments LLC now owns 273,776 shares of the semiconductor company’s stock worth $30,288,000 after buying an additional 125,022 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Silicon Laboratories in the 3rd quarter worth $7,408,000. FMR LLC lifted its holdings in shares of Silicon Laboratories by 1.1% during the 3rd 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 during the last quarter. Finally, Schwartz Investment Counsel Inc. grew its position in Silicon Laboratories by 17.9% in the third quarter. Schwartz Investment Counsel Inc. now owns 230,000 shares of the semiconductor company’s stock worth $26,581,000 after acquiring an additional 35,000 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.