Silicon Laboratories (NASDAQ:SLAB) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) had its price objective lifted by research analysts at Stifel Nicolaus from $135.00 to $145.00 in a research report issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the semiconductor company's stock. Stifel Nicolaus' price objective points to a potential upside of 10.01% from the stock's current price.

Several other equities analysts have also recently issued reports on SLAB. JPMorgan Chase & Co. reduced their price target on shares of Silicon Laboratories from $150.00 to $135.00 and set an "overweight" rating on the stock in a research 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 on the stock in a report on Tuesday, November 5th. Susquehanna began coverage on Silicon Laboratories in a research note on Tuesday, December 17th. They issued a "neutral" rating and a $130.00 target price for the company. Benchmark reaffirmed a "hold" rating on shares of Silicon Laboratories in a research note on Tuesday, November 5th. Finally, Morgan Stanley lowered their price objective on Silicon Laboratories from $123.00 to $97.00 and set an "equal weight" rating for the company in a research report on Tuesday, November 5th. One 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's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $123.56.

Silicon Laboratories Price Performance

NASDAQ:SLAB traded up $4.15 during mid-day trading on Monday, reaching $131.81. 255,399 shares of the company's stock traded hands, compared to its average volume of 241,200. The company has a 50 day moving average price of $115.74 and a 200-day moving average price of $113.42. The firm has a market capitalization of $4.28 billion, a price-to-earnings ratio of -17.81 and a beta of 1.17. Silicon Laboratories has a 12-month low of $94.00 and a 12-month high of $154.91.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last announced its 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. The company had revenue of $166.00 million during 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 firm's revenue for the quarter was down 18.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.48 earnings per share. As a group, analysts forecast that Silicon Laboratories will post -3.56 EPS for the current year.

Hedge Funds Weigh In On Silicon Laboratories

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SLAB. FMR LLC raised its stake in shares of Silicon Laboratories by 1.1% in the third quarter. FMR LLC now owns 4,843,370 shares of the semiconductor company's stock worth $559,748,000 after purchasing an additional 54,708 shares during the last quarter. Wellington Management Group LLP raised its position in Silicon Laboratories by 28.3% in the 3rd quarter. Wellington Management Group LLP now owns 888,382 shares of the semiconductor company's stock worth $102,670,000 after buying an additional 195,997 shares during the last quarter. Geode Capital Management LLC lifted its stake in Silicon Laboratories by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 781,049 shares of the semiconductor company's stock valued at $90,282,000 after acquiring an additional 15,728 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Silicon Laboratories by 2.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 639,065 shares of the semiconductor company's stock valued at $70,699,000 after acquiring an additional 12,680 shares during the last quarter. Finally, Van Berkom & Associates Inc. grew its stake in shares of Silicon Laboratories by 8.4% in the second quarter. Van Berkom & Associates Inc. now owns 609,232 shares of the semiconductor company's stock worth $67,399,000 after acquiring an additional 47,058 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.