Stifel Nicolaus Issues Pessimistic Forecast for Silicon Laboratories (NASDAQ:SLAB) Stock Price

Silicon Laboratories (NASDAQ:SLAB) had its target price cut by equities research analysts at Stifel Nicolaus from $145.00 to $120.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price target suggests a potential upside of 33.89% from the company’s previous close.

SLAB has been the subject of a number of other research reports. Needham & Company LLC restated a “buy” rating and issued a $150.00 price objective on shares of Silicon Laboratories in a research note on Wednesday, March 12th. StockNews.com downgraded Silicon Laboratories from a “hold” rating to a “sell” rating in a report on Thursday, March 27th. Barclays increased their target price on Silicon Laboratories from $75.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. Benchmark reaffirmed a “buy” rating and issued a $160.00 price target on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Finally, KeyCorp upped their price objective on shares of Silicon Laboratories from $115.00 to $160.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $133.70.

Silicon Laboratories Trading Down 0.4 %

SLAB traded down $0.38 during midday trading on Thursday, reaching $89.63. The company’s stock had a trading volume of 33,380 shares, compared to its average volume of 330,545. Silicon Laboratories has a twelve month low of $82.82 and a twelve month high of $160.00. The stock has a market cap of $2.91 billion, a P/E ratio of -15.10 and a beta of 1.33. The company has a fifty day simple moving average of $124.25 and a 200 day simple moving average of $121.88.

Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.11). Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The business had revenue of $166.25 million for the quarter, compared to the consensus estimate of $166.09 million. During the same period last year, the business earned ($1.19) earnings per share. The firm’s revenue for the quarter was up 91.4% compared to the same quarter last year. Sell-side analysts expect that Silicon Laboratories will post -0.97 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director William G. Bock sold 2,000 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $140.77, for a total transaction of $281,540.00. Following the transaction, the director now directly owns 32,115 shares in the company, valued at $4,520,828.55. The trade was a 5.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Navdeep S. Sooch sold 2,360 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $149.00, for a total value of $351,640.00. Following the completion of the sale, the director now owns 400,567 shares in the company, valued at $59,684,483. This represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,360 shares of company stock worth $782,610. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Silicon Laboratories

Several institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. bought a new position in Silicon Laboratories in the 4th quarter valued at about $14,252,000. Arizona State Retirement System lifted its holdings in Silicon Laboratories by 1.8% during the 4th quarter. Arizona State Retirement System now owns 9,360 shares of the semiconductor company’s stock worth $1,163,000 after purchasing an additional 167 shares during the last quarter. Franklin Resources Inc. increased its position in Silicon Laboratories by 1.9% during the 3rd quarter. Franklin Resources Inc. now owns 231,889 shares of the semiconductor company’s stock worth $27,001,000 after buying an additional 4,278 shares during the period. Barclays PLC lifted its holdings in shares of Silicon Laboratories by 23.4% during the third quarter. Barclays PLC now owns 70,568 shares of the semiconductor company’s stock worth $8,157,000 after buying an additional 13,363 shares in the last quarter. Finally, Arkadios Wealth Advisors bought a new stake in shares of Silicon Laboratories in the fourth quarter valued at about $237,000.

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.