Morgan Stanley Has Lowered Expectations for Silicon Laboratories (NASDAQ:SLAB) Stock Price

Silicon Laboratories (NASDAQ:SLAB) had its price objective cut by equities researchers at Morgan Stanley from $123.00 to $97.00 in a research 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 target price would suggest a potential downside of 9.54% from the stock’s current price.

Several other equities analysts have also recently weighed in on SLAB. Barclays lowered their price objective on shares of Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Needham & Company LLC restated a “buy” rating and set a $150.00 target price on shares of Silicon Laboratories in a research note on Thursday, July 25th. JPMorgan Chase & Co. decreased their target price on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday. KeyCorp decreased their target price on shares of Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, StockNews.com upgraded shares of Silicon Laboratories to a “sell” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Silicon Laboratories presently has a consensus rating of “Hold” and an average price target of $121.50.

Silicon Laboratories Stock Up 2.4 %

Shares of NASDAQ SLAB traded up $2.49 during trading on Tuesday, reaching $107.23. 491,998 shares of the company traded hands, compared to its average volume of 295,679. The firm has a 50 day simple moving average of $112.56 and a 200-day simple moving average of $115.56. The stock has a market capitalization of $3.46 billion, a PE ratio of -17.30 and a beta of 1.20. Silicon Laboratories has a 52-week low of $90.65 and a 52-week high of $154.91.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $166.00 million for the quarter, compared to analysts’ expectations of $165.50 million. During the same quarter in the prior year, the business earned $0.48 EPS. The business’s quarterly revenue was down 18.5% on a year-over-year basis. As a group, research analysts predict that Silicon Laboratories will post -3.41 EPS for the current year.

Insider Transactions at Silicon Laboratories

In other news, SVP Brandon Tolany sold 845 shares of the business’s stock in a transaction 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 transaction, the senior vice president now owns 43,615 shares of the company’s stock, valued at approximately $5,015,725. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.72% of the company’s stock.

Institutional Investors Weigh In On Silicon Laboratories

Several large investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. increased its position in Silicon Laboratories by 8.5% in the second quarter. Harbor Capital Advisors Inc. now owns 1,292 shares of the semiconductor company’s stock worth $143,000 after purchasing an additional 101 shares during the last quarter. Orion Portfolio Solutions LLC increased its position in Silicon Laboratories by 1.1% in the first quarter. Orion Portfolio Solutions LLC now owns 9,858 shares of the semiconductor company’s stock worth $1,417,000 after purchasing an additional 103 shares during the last quarter. Victory Capital Management Inc. increased its position in Silicon Laboratories by 2.3% in the second quarter. Victory Capital Management Inc. now owns 6,638 shares of the semiconductor company’s stock worth $734,000 after purchasing an additional 150 shares during the last quarter. Arizona State Retirement System increased its position in Silicon Laboratories by 2.3% in the second quarter. Arizona State Retirement System now owns 8,936 shares of the semiconductor company’s stock worth $989,000 after purchasing an additional 202 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Silicon Laboratories by 84.1% in the third quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock worth $57,000 after purchasing an additional 227 shares during the last quarter.

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.