Silicon Laboratories (NASDAQ:SLAB) Price Target Lowered to $97.00 at Morgan Stanley

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) had its price target cut by investment analysts at Morgan Stanley from $123.00 to $97.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an "equal weight" rating on the semiconductor company's stock. Morgan Stanley's price objective points to a potential downside of 7.14% from the company's current price.

SLAB has been the subject of a number of other research reports. Stifel Nicolaus dropped their target price on Silicon Laboratories from $160.00 to $135.00 and set a "buy" rating for the company in a report on Tuesday. JPMorgan Chase & Co. cut their price objective on shares of Silicon Laboratories from $150.00 to $135.00 and set an "overweight" rating for the company in a report on Tuesday. Benchmark reaffirmed a "hold" rating on shares of Silicon Laboratories in a report on Tuesday. Barclays cut their price target on Silicon Laboratories from $120.00 to $75.00 and set an "equal weight" rating for the company in a research note on Tuesday. Finally, KeyCorp lowered their price objective on Silicon Laboratories from $150.00 to $115.00 and set an "overweight" rating on the stock in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Silicon Laboratories presently has an average rating of "Hold" and a consensus target price of $121.50.

Silicon Laboratories Trading Down 0.3 %

Shares of NASDAQ:SLAB traded down $0.28 on Tuesday, hitting $104.46. The company had a trading volume of 953,558 shares, compared to its average volume of 297,919. The stock has a market cap of $3.37 billion, a price-to-earnings ratio of -17.30 and a beta of 1.20. The stock has a 50 day moving average price of $112.56 and a 200 day moving average price of $115.56. Silicon Laboratories has a 1-year low of $90.65 and a 1-year high of $154.91.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The semiconductor company reported ($0.13) EPS for the quarter, beating analysts' consensus estimates of ($0.20) by $0.07. Silicon Laboratories had a negative net margin of 36.53% and a negative return on equity of 9.13%. The business had revenue of $166.00 million for the quarter, compared to analyst estimates of $165.50 million. During the same quarter in the prior year, the business earned $0.48 EPS. Silicon Laboratories's quarterly revenue was down 18.5% on a year-over-year basis. Sell-side analysts anticipate that Silicon Laboratories will post -3.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Silicon Laboratories news, SVP Brandon Tolany sold 845 shares of Silicon Laboratories stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $115.00, for a total value of $97,175.00. Following the transaction, the senior vice president now owns 43,615 shares in the company, valued at $5,015,725. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Cullen Frost Bankers Inc. bought a new stake in Silicon Laboratories during the 2nd quarter worth $28,000. Fidelis Capital Partners LLC bought a new stake in shares of Silicon Laboratories during the first quarter worth about $55,000. GAMMA Investing LLC increased its stake in shares of Silicon Laboratories by 84.1% in the third quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company's stock valued at $57,000 after buying an additional 227 shares during the period. Daiwa Securities Group Inc. bought a new position in Silicon Laboratories in the 2nd quarter valued at approximately $60,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Silicon Laboratories during the 2nd quarter worth approximately $82,000.

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.