Silicon Laboratories (NASDAQ:SLAB) Shares Gap Down on Analyst Downgrade

Shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Get Free Report) gapped down prior to trading on Tuesday after Morgan Stanley lowered their price target on the stock from $123.00 to $97.00. The stock had previously closed at $104.74, but opened at $96.60. Morgan Stanley currently has an equal weight rating on the stock. Silicon Laboratories shares last traded at $102.53, with a volume of 115,830 shares trading hands.

A number of other equities analysts have also recently weighed in on the stock. Benchmark reissued a "hold" rating on shares of Silicon Laboratories in a research report on Tuesday. Stifel Nicolaus decreased their target price on Silicon Laboratories from $160.00 to $135.00 and set a "buy" rating for the company in a research note on Tuesday. JPMorgan Chase & Co. dropped their price target on Silicon Laboratories from $150.00 to $135.00 and set an "overweight" rating on the stock in a research report on Tuesday. StockNews.com upgraded Silicon Laboratories to a "sell" rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC restated a "buy" rating and set a $150.00 target price on shares of Silicon Laboratories in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $121.50.

Insider Buying and Selling at Silicon Laboratories

In other news, SVP Brandon Tolany sold 845 shares of the firm's 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 completion of the transaction, the senior vice president now owns 43,615 shares in the company, valued at $5,015,725. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.72% of the company's stock.

Hedge Funds Weigh In On Silicon Laboratories

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Silicon Laboratories by 0.7% in the first quarter. Vanguard Group Inc. now owns 3,489,160 shares of the semiconductor company's stock valued at $501,462,000 after acquiring an additional 24,997 shares during the last quarter. Capital Research Global Investors grew its holdings in Silicon Laboratories by 29.9% during 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 during the period. Dimensional Fund Advisors LP increased its position in Silicon Laboratories by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 639,065 shares of the semiconductor company's stock worth $70,699,000 after buying an additional 12,680 shares during the last quarter. Van Berkom & Associates Inc. raised its stake in Silicon Laboratories by 8.4% in the second quarter. Van Berkom & Associates Inc. now owns 609,232 shares of the semiconductor company's stock valued at $67,399,000 after buying an additional 47,058 shares during the period. Finally, Federated Hermes Inc. lifted its position in shares of Silicon Laboratories by 2.2% in the second quarter. Federated Hermes Inc. now owns 545,833 shares of the semiconductor company's stock valued at $60,386,000 after buying an additional 11,981 shares during the last quarter.

Silicon Laboratories Stock Performance

The business has a fifty day moving average of $112.56 and a two-hundred day moving average of $115.56. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of -17.30 and a beta of 1.20.

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

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.