Analysts Set Silicon Laboratories Inc. (NASDAQ:SLAB) Price Target at $122.44

Shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Get Free Report) have received an average recommendation of "Hold" from the eleven research firms that are covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $122.44.

Several research analysts have recently issued reports on the stock. Morgan Stanley lowered their target price on shares of Silicon Laboratories from $123.00 to $97.00 and set an "equal weight" rating for the company in a report on Tuesday, November 5th. Benchmark reaffirmed a "hold" rating on shares of Silicon Laboratories in a report on Tuesday, November 5th. Barclays reduced their target price on Silicon Laboratories from $120.00 to $75.00 and set an "equal weight" rating for the company in a report on Tuesday, November 5th. Susquehanna assumed coverage on Silicon Laboratories in a research note on Tuesday, December 17th. They set a "neutral" rating and a $130.00 price target on the stock. Finally, Stifel Nicolaus decreased their price objective on Silicon Laboratories from $160.00 to $135.00 and set a "buy" rating for the company in a report on Tuesday, November 5th.

Silicon Laboratories Trading Up 0.9 %

NASDAQ:SLAB traded up $1.17 during trading hours on Friday, hitting $125.00. The company's stock had a trading volume of 885,535 shares, compared to its average volume of 301,420. Silicon Laboratories has a 52-week low of $94.00 and a 52-week high of $154.91. The stock has a market capitalization of $4.06 billion, a P/E ratio of -16.89 and a beta of 1.21. The stock has a fifty day moving average of $113.22 and a 200-day moving average of $112.97.

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 analysts' consensus estimates of ($0.20) by $0.07. The business had revenue of $166.00 million for the quarter, compared to the consensus estimate of $165.50 million. Silicon Laboratories had a negative return on equity of 12.60% and a negative net margin of 46.93%. The business's revenue for the quarter was down 18.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.48 EPS. On average, sell-side analysts forecast that Silicon Laboratories will post -3.56 earnings per share for the current year.

Institutional Trading of Silicon Laboratories

Hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. raised its holdings in Silicon Laboratories by 1.9% during the third quarter. Franklin Resources Inc. now owns 231,889 shares of the semiconductor company's stock worth $27,001,000 after purchasing an additional 4,278 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Silicon Laboratories during the 3rd quarter worth approximately $7,408,000. Intech Investment Management LLC lifted its holdings in shares of Silicon Laboratories by 82.9% in the 3rd quarter. Intech Investment Management LLC now owns 12,837 shares of the semiconductor company's stock valued at $1,484,000 after buying an additional 5,818 shares during the period. Barclays PLC boosted its stake in shares of Silicon Laboratories by 23.4% in the third 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 in the last quarter. Finally, Clearbridge Investments LLC grew its holdings in Silicon Laboratories by 84.0% during the second quarter. Clearbridge Investments LLC now owns 273,776 shares of the semiconductor company's stock worth $30,288,000 after acquiring an additional 125,022 shares during the period.

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.