Wall Street Zen Upgrades Silicon Laboratories (NASDAQ:SLAB) to "Hold"

Key Points

• Wall Street Zen upgraded Silicon Laboratories to “Hold”, while the broader analyst consensus remains “Reduce,” with five Hold ratings and two Sell ratings and an average price target of $218.
• Silicon Laboratories reported quarterly EPS of $0.71, beating estimates by $0.02, while revenue rose 18.3% year over year to $228.19 million; however, the company posted a negative net margin and return on equity.
• SLAB shares opened at $222.04, near their 52-week high of $223.50, and several institutional investors—including BlackRock, HBK Investments, and Pentwater Capital—recently established or increased positions.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) was upgraded by stock analysts at Wall Street Zen to a "hold" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Other equities research analysts also recently issued research reports about the company. Zacks Research downgraded Silicon Laboratories from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 18th. Weiss Ratings restated a "sell (d-)" rating on shares of Silicon Laboratories in a research report on Monday, September 21st. Five investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus target price of $218.00.

Silicon Laboratories Stock Performance

Shares of Silicon Laboratories stock opened at $222.04 on Friday. The company has a market capitalization of $7.41 billion, a PE ratio of -188.17 and a beta of 1.33. The company has a 50-day simple moving average of $219.94 and a two-hundred day simple moving average of $217.29. Silicon Laboratories has a one year low of $115.50 and a one year high of $223.50.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The semiconductor company reported $0.71 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.02. Silicon Laboratories had a negative net margin of 4.57% and a negative return on equity of 0.66%. 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 business earned $0.11 EPS. The company's revenue was up 18.3% compared to the same quarter last year. On average, equities analysts predict that Silicon Laboratories will post 0.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Silicon Laboratories

Hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Silicon Laboratories during the second quarter worth $1,135,435,000. HBK Investments L P acquired a new position in shares of Silicon Laboratories during the second quarter worth $218,560,000. Pentwater Capital Management LP acquired a new position in Silicon Laboratories in the second quarter valued at approximately $162,111,000. Hsbc Holdings PLC purchased a new position in Silicon Laboratories in the second quarter valued at approximately $67,455,000. Finally, Assenagon Asset Management S.A. boosted its stake in Silicon Laboratories by 395.2% in the first quarter. Assenagon Asset Management S.A. now owns 239,318 shares of the semiconductor company's stock valued at $49,814,000 after acquiring an additional 190,994 shares in the last quarter.

About Silicon Laboratories

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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