Silicon Laboratories (NASDAQ:SLAB) Raised to "Hold" at Zacks Research

Key Points

• Zacks Research upgraded Silicon Laboratories from “strong sell” to “hold,” while the broader analyst consensus remains “Reduce” with an average price target of $218.
• SLAB shares opened at $221.15, near their 12-month high of $223.50, with a market capitalization of approximately $7.38 billion.
• Silicon Laboratories exceeded quarterly expectations, reporting $0.71 in EPS on $228.19 million in revenue; revenue increased 18.3% year over year despite negative net margins and return on equity.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued on Monday, Zacks reports.

A number of other brokerages have also recently commented on SLAB. Weiss Ratings reissued a "sell (d-)" rating on shares of Silicon Laboratories in a research note on Monday, September 21st. Wall Street Zen upgraded shares of Silicon Laboratories to a "hold" rating in a research report on Saturday. Six investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce" and an average price target of $218.00.

Silicon Laboratories Trading Down 0.2%

Shares of SLAB stock opened at $221.15 on Monday. The stock has a market capitalization of $7.38 billion, a P/E ratio of -187.42 and a beta of 1.33. Silicon Laboratories has a 12-month low of $115.50 and a 12-month high of $223.50. The firm's 50 day moving average is $220.07 and its 200 day moving average is $217.56.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last announced its earnings results on Tuesday, August 11th. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02. Silicon Laboratories had a negative return on equity of 0.66% and a negative net margin of 4.57%. The business had revenue of $228.19 million for the quarter, compared to analysts' expectations of $227.99 million. During the same period last year, the firm posted $0.11 earnings per share. The business's revenue for the quarter was up 18.3% on a year-over-year basis. As a group, equities analysts predict that Silicon Laboratories will post 0.52 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLAB. Harbor Investment Advisory LLC purchased a new stake in Silicon Laboratories in the second quarter valued at approximately $28,000. Allworth Financial LP purchased a new position in shares of Silicon Laboratories in the second quarter valued at approximately $42,000. EverSource Wealth Advisors LLC lifted its holdings in Silicon Laboratories by 66.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 225 shares of the semiconductor company's stock worth $47,000 after buying an additional 90 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Silicon Laboratories in the second quarter valued at $99,000. Finally, Nykredit A S purchased a new position in shares of Silicon Laboratories in the 2nd quarter valued at about $124,000.

Silicon Laboratories Company Profile

Silicon Laboratories Inc is a fabless semiconductor company focused on wireless connectivity solutions for the Internet of Things (IoT). The company develops technologies that enable connected devices to communicate, sense, and operate efficiently across residential, commercial, industrial, and consumer applications.

Its product portfolio includes wireless system-on-chips, microcontrollers, modules, sensors, development kits, software, and development tools. Silicon Labs supports technologies and protocols such as Bluetooth, Wi-Fi, Zigbee, Thread, Matter, and proprietary sub-GHz wireless communications.

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