Silicon Laboratories, Inc. (NASDAQ:SLAB) Receives Consensus Recommendation of "Reduce" from Analysts

Key Points

• Analysts rate Silicon Laboratories “Reduce” overall: Two analysts recommend selling and five recommend holding, with an average 12-month price target of $218—slightly below the stock’s $220.58 opening price.
• Recent earnings modestly exceeded expectations: Silicon Labs reported quarterly earnings of $0.71 per share versus the $0.69 consensus estimate and revenue of $228.19 million, up 18.3% year over year.
• Institutional ownership increased: Several investment firms, including EverSource Wealth Advisors, Bank of Montreal and Inspire Investing, recently raised their positions in SLAB.

Silicon Laboratories, Inc. (NASDAQ:SLAB - Get Free Report) has been given an average recommendation of "Reduce" by the seven research firms that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $218.00.

SLAB has been the topic of several research analyst reports. Zacks Research cut shares of Silicon Laboratories from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 18th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Silicon Laboratories in a research report on Wednesday, June 24th.

Institutional Trading of Silicon Laboratories

A number of institutional investors and hedge funds have recently made changes to their positions in SLAB. Vident Advisory LLC boosted its holdings in Silicon Laboratories by 2.5% in the fourth quarter. Vident Advisory LLC now owns 3,018 shares of the semiconductor company's stock valued at $394,000 after acquiring an additional 74 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Silicon Laboratories by 66.7% during the first quarter. EverSource Wealth Advisors LLC now owns 225 shares of the semiconductor company's stock worth $47,000 after acquiring an additional 90 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Silicon Laboratories by 2.9% in the 4th quarter. Bank of Montreal Can now owns 3,355 shares of the semiconductor company's stock worth $438,000 after purchasing an additional 96 shares during the period. State of Michigan Retirement System raised its holdings in shares of Silicon Laboratories by 1.3% in the 1st quarter. State of Michigan Retirement System now owns 7,897 shares of the semiconductor company's stock worth $1,644,000 after purchasing an additional 100 shares during the period. Finally, Inspire Investing LLC lifted its stake in shares of Silicon Laboratories by 3.1% in the 4th quarter. Inspire Investing LLC now owns 3,585 shares of the semiconductor company's stock valued at $469,000 after purchasing an additional 109 shares in the last quarter.

Silicon Laboratories Price Performance

SLAB stock opened at $220.58 on Tuesday. The stock has a market capitalization of $7.36 billion, a price-to-earnings ratio of -186.93 and a beta of 1.36. Silicon Laboratories has a 52-week low of $115.50 and a 52-week high of $222.49. The stock's fifty day simple moving average is $218.35 and its 200-day simple moving average is $214.53.

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

Silicon Laboratories Company Profile

Silicon Laboratories NASDAQ: SLAB is a global semiconductor company that develops high-performance analog and mixed-signal integrated circuits, wireless system-on-chips (SoCs), microcontrollers, and radio frequency (RF) solutions. Its product portfolio is tailored to support the Internet of Things (IoT), infrastructure, industrial automation, consumer electronics, automotive, and energy markets. By combining silicon, software, and tools, Silicon Labs aims to accelerate development cycles and deliver low-power, highly integrated solutions that address demanding application requirements.

Founded in 1996 and headquartered in Austin, Texas, Silicon Labs has grown into a multinational organization with engineering and sales operations across North America, Europe, and Asia.

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