Silicon Laboratories (NASDAQ:SLAB) Upgraded by StockNews.com to Sell

StockNews.com upgraded shares of Silicon Laboratories (NASDAQ:SLAB) to a sell rating in a research note released on Tuesday.

A number of other brokerages also recently weighed in on SLAB. JPMorgan Chase & Co. cut their price target on shares of Silicon Laboratories from $165.00 to $150.00 and set an overweight rating on the stock in a report on Thursday, April 25th. Summit Insights cut Silicon Laboratories from a buy rating to a hold rating in a research report on Wednesday, April 24th. Barclays decreased their price target on Silicon Laboratories from $140.00 to $120.00 and set an equal weight rating on the stock in a research report on Thursday, April 25th. Citigroup decreased their price objective on shares of Silicon Laboratories from $137.00 to $120.00 and set a neutral rating on the stock in a research report on Thursday, April 25th. Finally, Benchmark restated a hold rating on shares of Silicon Laboratories in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and an average price target of $135.00.

Silicon Laboratories Trading Up 1.0 %

Shares of SLAB stock opened at $116.61 on Tuesday. The firm has a market capitalization of $3.72 billion, a PE ratio of -35.23 and a beta of 1.20. The firm has a fifty day simple moving average of $118.70 and a two-hundred day simple moving average of $126.53. Silicon Laboratories has a 12 month low of $74.56 and a 12 month high of $154.91.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported ($0.56) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.08. The firm had revenue of $145.40 million for the quarter, compared to the consensus estimate of $140.18 million. Silicon Laboratories had a negative net margin of 16.36% and a negative return on equity of 4.45%. The business’s revenue for the quarter was down 40.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.59 EPS. On average, equities analysts predict that Silicon Laboratories will post -3.21 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Robert Matthew Johnson sold 7,230 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $123.80, for a total value of $895,074.00. Following the completion of the sale, the chief executive officer now owns 47,910 shares of the company’s stock, valued at $5,931,258. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.72% of the company’s stock.

Institutional Trading of Silicon Laboratories

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLAB. Bank of New York Mellon Corp raised its holdings in Silicon Laboratories by 10.2% in the second quarter. Bank of New York Mellon Corp now owns 358,994 shares of the semiconductor company’s stock worth $39,715,000 after purchasing an additional 33,210 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Silicon Laboratories by 16.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,425 shares of the semiconductor company’s stock worth $490,000 after buying an additional 626 shares in the last quarter. Leeward Investments LLC MA raised its position in Silicon Laboratories by 5.6% in the 2nd quarter. Leeward Investments LLC MA now owns 89,467 shares of the semiconductor company’s stock worth $9,898,000 after buying an additional 4,762 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in Silicon Laboratories by 37.0% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 8,187 shares of the semiconductor company’s stock valued at $906,000 after acquiring an additional 2,210 shares during the period. Finally, Cooper Financial Group lifted its stake in Silicon Laboratories by 50.2% during the 2nd quarter. Cooper Financial Group now owns 5,046 shares of the semiconductor company’s stock valued at $558,000 after acquiring an additional 1,687 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.