Silicon Laboratories (NASDAQ:SLAB) Given New $120.00 Price Target at Barclays

Silicon Laboratories (NASDAQ:SLAB) had its price target raised by Barclays from $75.00 to $120.00 in a report released on Friday,Benzinga reports. Barclays currently has an equal weight rating on the semiconductor company’s stock.

Several other brokerages also recently commented on SLAB. Morgan Stanley reduced their target price on shares of Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Benchmark restated a “hold” rating on shares of Silicon Laboratories in a research report on Tuesday, November 5th. KeyCorp dropped their price objective on shares of Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Susquehanna started coverage on shares of Silicon Laboratories in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 target price for the company. Finally, JPMorgan Chase & Co. decreased their price target on Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $128.56.

Silicon Laboratories Stock Up 1.7 %

NASDAQ SLAB opened at $134.75 on Friday. Silicon Laboratories has a twelve month low of $94.00 and a twelve month high of $154.91. The stock has a market cap of $4.37 billion, a P/E ratio of -18.21 and a beta of 1.17. The company’s 50-day simple moving average is $120.06 and its 200 day simple moving average is $114.87.

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 the consensus estimate of ($0.20) by $0.07. The company had revenue of $166.00 million for the quarter, compared to analyst estimates of $165.50 million. Silicon Laboratories had a negative return on equity of 12.60% and a negative net margin of 46.93%. The company’s revenue was down 18.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.48 EPS. Research analysts anticipate that Silicon Laboratories will post -3.56 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. increased its stake in shares of Silicon Laboratories by 2.3% in the 2nd quarter. Victory Capital Management Inc. now owns 6,638 shares of the semiconductor company’s stock valued at $734,000 after buying an additional 150 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in Silicon Laboratories by 16.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 7,183 shares of the semiconductor company’s stock valued at $795,000 after acquiring an additional 1,017 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Silicon Laboratories by 15.6% in the second quarter. Envestnet Asset Management Inc. now owns 110,375 shares of the semiconductor company’s stock valued at $12,211,000 after acquiring an additional 14,877 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Silicon Laboratories by 2.0% in the second 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 during the period. Finally, Mutual of America Capital Management LLC raised its holdings in Silicon Laboratories by 6.9% during the 2nd quarter. Mutual of America Capital Management LLC now owns 34,849 shares of the semiconductor company’s stock worth $3,855,000 after purchasing an additional 2,259 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.