Silicon Laboratories (NASDAQ:SLAB) Price Target Lowered to $115.00 at KeyCorp

Silicon Laboratories (NASDAQ:SLAB) had its price target trimmed by KeyCorp from $150.00 to $115.00 in a report published on Tuesday, Benzinga reports. The firm currently has an overweight rating on the semiconductor company’s stock.

SLAB has been the topic of several other reports. Needham & Company LLC reiterated a “buy” rating and set a $150.00 target price on shares of Silicon Laboratories in a research note on Thursday, July 25th. StockNews.com raised Silicon Laboratories to a “sell” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $121.50.

Silicon Laboratories Trading Down 0.3 %

NASDAQ SLAB opened at $104.46 on Tuesday. Silicon Laboratories has a 12 month low of $90.65 and a 12 month high of $154.91. The stock’s fifty day moving average price is $112.56 and its 200-day moving average price is $115.56. The stock has a market cap of $3.37 billion, a P/E ratio of -16.85 and a beta of 1.20.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings data on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.07. The business had revenue of $166.00 million during the quarter, compared to analyst estimates of $165.50 million. Silicon Laboratories had a negative net margin of 36.53% and a negative return on equity of 9.13%. Silicon Laboratories’s revenue was down 18.5% compared to the same quarter last year. During the same period last year, the business earned $0.48 EPS. As a group, analysts forecast that Silicon Laboratories will post -3.41 earnings per share for the current fiscal year.

Insider Transactions at Silicon Laboratories

In related news, SVP Brandon Tolany sold 845 shares of the stock in a transaction that occurred 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 directly owns 43,615 shares of the company’s stock, valued at approximately $5,015,725. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.72% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of 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 in the last quarter. Capital Research Global Investors raised its stake in Silicon Laboratories by 29.9% during the 1st quarter. Capital Research Global Investors now owns 1,217,939 shares of the semiconductor company’s stock valued at $175,042,000 after purchasing an additional 280,000 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Silicon Laboratories by 2.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 639,065 shares of the semiconductor company’s stock worth $70,699,000 after purchasing an additional 12,680 shares in the last quarter. Van Berkom & Associates Inc. boosted 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 during the period. Finally, Federated Hermes Inc. grew its holdings in Silicon Laboratories by 2.2% during the 2nd 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 in the last quarter.

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.