JPMorgan Chase & Co. Lowers Silicon Laboratories (NASDAQ:SLAB) Price Target to $135.00

Silicon Laboratories (NASDAQ:SLAB) had its price objective dropped by stock analysts at JPMorgan Chase & Co. from $150.00 to $135.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 25.94% from the company’s previous close.

Other analysts have also recently issued reports about the company. StockNews.com raised Silicon Laboratories to a “sell” rating in a research report on Wednesday, October 30th. Needham & Company LLC reissued a “buy” rating and set a $150.00 target price on shares of Silicon Laboratories in a research note on Thursday, July 25th. Stifel Nicolaus dropped their price objective on Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday. KeyCorp dropped their price objective on Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Barclays dropped their price target on Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating for the company in a research report on Tuesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Silicon Laboratories currently has a consensus rating of “Hold” and a consensus price target of $125.00.

Silicon Laboratories Stock Up 2.3 %

NASDAQ SLAB traded up $2.45 during trading hours on Tuesday, hitting $107.19. 345,621 shares of the company were exchanged, compared to its average volume of 294,995. The company has a 50 day moving average of $112.56 and a two-hundred day moving average of $115.56. Silicon Laboratories has a 52-week low of $90.65 and a 52-week high of $154.91. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of -17.84 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) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.07. Silicon Laboratories had a negative return on equity of 9.13% and a negative net margin of 36.53%. The business had revenue of $166.00 million for the quarter, compared to the consensus estimate of $165.50 million. During the same quarter in the prior year, the business posted $0.48 EPS. The business’s revenue for the quarter was down 18.5% on a year-over-year basis. On average, equities 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 Silicon Laboratories stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $115.00, for a total transaction of $97,175.00. Following the sale, the senior vice president now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.72% of the company’s stock.

Institutional Trading of Silicon Laboratories

Several hedge funds and other institutional investors have recently bought and sold shares of SLAB. BNP Paribas Financial Markets increased its holdings in Silicon Laboratories by 5.9% in the first quarter. BNP Paribas Financial Markets now owns 44,997 shares of the semiconductor company’s stock valued at $6,467,000 after buying an additional 2,526 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in Silicon Laboratories in the first quarter valued at approximately $55,000. Texas Permanent School Fund Corp boosted its stake in Silicon Laboratories by 2.8% in the first quarter. Texas Permanent School Fund Corp now owns 27,916 shares of the semiconductor company’s stock valued at $4,012,000 after acquiring an additional 768 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in Silicon Laboratories by 13.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 5,977 shares of the semiconductor company’s stock valued at $859,000 after acquiring an additional 709 shares during the period. Finally, SG Americas Securities LLC boosted its stake in Silicon Laboratories by 88.9% in the first quarter. SG Americas Securities LLC now owns 1,840 shares of the semiconductor company’s stock valued at $264,000 after acquiring an additional 866 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.