Silicon Laboratories (NASDAQ:SLAB) Coverage Initiated by Analysts at Susquehanna

Susquehanna began coverage on shares of Silicon Laboratories (NASDAQ:SLAB) in a research report report published on Tuesday, Marketbeat.com reports. The firm issued a neutral rating and a $130.00 price target on the semiconductor company’s stock.

Several other equities analysts also recently commented on the stock. Barclays lowered their price objective on shares of Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. StockNews.com upgraded Silicon Laboratories to a “sell” rating in a report on Friday, November 8th. KeyCorp cut their price objective on Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Benchmark restated a “hold” rating on shares of Silicon Laboratories in a report on Tuesday, November 5th. Finally, Morgan Stanley cut their price target on shares of Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Silicon Laboratories presently has an average rating of “Hold” and an average target price of $122.44.

Silicon Laboratories Price Performance

Shares of Silicon Laboratories stock opened at $123.83 on Tuesday. Silicon Laboratories has a one year low of $94.00 and a one year high of $154.91. The business’s 50 day simple moving average is $113.03 and its two-hundred day simple moving average is $113.02. The stock has a market capitalization of $4.02 billion, a P/E ratio of -16.73 and a beta of 1.21.

Silicon Laboratories (NASDAQ:SLAB) last issued its earnings results on Monday, November 4th. The semiconductor company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.07. The company had revenue of $166.00 million for the quarter, compared to the consensus estimate of $165.50 million. Silicon Laboratories had a negative net margin of 46.93% and a negative return on equity of 12.60%. The firm’s revenue for the quarter was down 18.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.48 earnings per share. Sell-side analysts expect that Silicon Laboratories will post -3.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Silicon Laboratories

Several hedge funds have recently made changes to their positions in SLAB. Nisa Investment Advisors LLC lifted its position in Silicon Laboratories by 16.5% during the second quarter. Nisa Investment Advisors LLC now owns 4,425 shares of the semiconductor company’s stock valued at $490,000 after buying an additional 626 shares during the period. Bank of New York Mellon Corp lifted its position in Silicon Laboratories by 10.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 358,994 shares of the semiconductor company’s stock valued at $39,715,000 after acquiring an additional 33,210 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Silicon Laboratories during the second quarter worth about $82,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Silicon Laboratories by 18.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,767 shares of the semiconductor company’s stock worth $859,000 after purchasing an additional 1,211 shares during the period. Finally, Davidson Investment Advisors increased its stake in shares of Silicon Laboratories by 36.7% during the second quarter. Davidson Investment Advisors now owns 131,453 shares of the semiconductor company’s stock valued at $14,543,000 after purchasing an additional 35,317 shares in 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.