Silicon Laboratories (NASDAQ:SLAB) Stock Price Expected to Rise, KeyCorp Analyst Says

Silicon Laboratories (NASDAQ:SLAB) had its target price lifted by research analysts at KeyCorp from $115.00 to $160.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the semiconductor company’s stock. KeyCorp’s price target would suggest a potential upside of 15.09% from the stock’s current price.

SLAB has been the subject of several other reports. Susquehanna started coverage on Silicon Laboratories in a research note on Tuesday, December 17th. They set a “neutral” rating and a $130.00 price objective for the company. JPMorgan Chase & Co. cut their price target on Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Barclays lifted their price objective on shares of Silicon Laboratories from $75.00 to $120.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. Benchmark restated a “hold” rating on shares of Silicon Laboratories in a research report on Tuesday, November 5th. Finally, Morgan Stanley lowered 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 report on Tuesday, November 5th. One equities 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $133.56.

Silicon Laboratories Trading Up 3.2 %

Shares of NASDAQ SLAB opened at $139.02 on Wednesday. The stock has a market cap of $4.51 billion, a P/E ratio of -18.66 and a beta of 1.17. Silicon Laboratories has a twelve month low of $94.00 and a twelve month high of $154.91. The stock has a 50 day moving average of $121.21 and a two-hundred day moving average of $115.25.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings results on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.07. The firm had revenue of $166.00 million during the quarter, compared to analysts’ expectations of $165.50 million. Silicon Laboratories had a negative net margin of 46.93% and a negative return on equity of 12.60%. Silicon Laboratories’s quarterly revenue was down 18.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.48 EPS. As a group, research analysts predict that Silicon Laboratories will post -3.56 earnings per share for the current year.

Institutional Investors Weigh In On Silicon Laboratories

A number of hedge funds and other institutional investors have recently modified their holdings of SLAB. SG Americas Securities LLC grew its holdings in shares of Silicon Laboratories by 1,106.4% in the 4th quarter. SG Americas Securities LLC now owns 23,791 shares of the semiconductor company’s stock worth $2,955,000 after acquiring an additional 21,819 shares during the period. Nisa Investment Advisors LLC boosted its position in Silicon Laboratories by 6.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,134 shares of the semiconductor company’s stock worth $514,000 after purchasing an additional 240 shares in the last quarter. Arkadios Wealth Advisors acquired a new stake in Silicon Laboratories in the fourth quarter valued at $237,000. Procyon Advisors LLC increased its position in shares of Silicon Laboratories by 4.4% in the fourth quarter. Procyon Advisors LLC now owns 3,176 shares of the semiconductor company’s stock valued at $395,000 after buying an additional 133 shares in the last quarter. Finally, Park Avenue Securities LLC acquired a new position in shares of Silicon Laboratories during the 4th quarter worth $268,000.

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.