Stifel Nicolaus Has Lowered Expectations for Silicon Laboratories (NASDAQ:SLAB) Stock Price

Silicon Laboratories (NASDAQ:SLAB) had its price objective lowered by equities research analysts at Stifel Nicolaus from $160.00 to $135.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 26.71% from the stock’s current price.

Several other equities research analysts have also recently commented on the stock. KeyCorp cut their price objective on shares of Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating on the stock in a research report on Tuesday. StockNews.com raised Silicon Laboratories to a “sell” rating in a report on Wednesday, October 30th. Barclays reduced their price target on Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $150.00 target price on shares of Silicon Laboratories in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Silicon Laboratories has an average rating of “Hold” and an average price target of $127.14.

Silicon Laboratories Stock Performance

SLAB traded up $1.80 during mid-day trading on Tuesday, reaching $106.54. The stock had a trading volume of 320,544 shares, compared to its average volume of 294,878. The firm’s fifty day simple moving average is $112.56 and its two-hundred day simple moving average is $115.56. The stock has a market capitalization of $3.44 billion, a P/E ratio of -17.18 and a beta of 1.20. Silicon Laboratories has a 52 week low of $90.65 and a 52 week 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, topping the consensus estimate of ($0.20) by $0.07. The firm had revenue of $166.00 million during the quarter, compared to analysts’ expectations of $165.50 million. Silicon Laboratories had a negative return on equity of 9.13% and a negative net margin of 36.53%. The company’s quarterly revenue was down 18.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.48 EPS. As a group, analysts expect that Silicon Laboratories will post -3.41 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Brandon Tolany sold 845 shares of Silicon Laboratories stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $115.00, for a total value of $97,175.00. Following the completion of the sale, the senior vice president now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.72% of the stock is owned by company insiders.

Institutional Investors Weigh In On Silicon Laboratories

Institutional investors and hedge funds have recently bought and sold shares of the stock. Capital Research Global Investors increased its stake in shares of Silicon Laboratories by 29.9% in the first quarter. Capital Research Global Investors now owns 1,217,939 shares of the semiconductor company’s stock worth $175,042,000 after purchasing an additional 280,000 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Silicon Laboratories by 84.0% in the second 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 in the last quarter. American Century Companies Inc. increased its holdings in Silicon Laboratories by 29.5% during the 2nd 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 during the period. Van Berkom & Associates Inc. lifted its stake in Silicon Laboratories by 8.4% in the 2nd quarter. Van Berkom & Associates Inc. now owns 609,232 shares of the semiconductor company’s stock worth $67,399,000 after purchasing an additional 47,058 shares in the last quarter. Finally, Davidson Investment Advisors grew its position in shares of Silicon Laboratories by 36.7% during the 2nd quarter. Davidson Investment Advisors now owns 131,453 shares of the semiconductor company’s stock valued at $14,543,000 after purchasing an additional 35,317 shares in the last quarter.

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.