Morgan Stanley Lowers Silicon Laboratories (NASDAQ:SLAB) Price Target to $144.00

Key Points

• Morgan Stanley has lowered its price target for Silicon Laboratories (SLAB) from $157 to $144, maintaining an "equal weight" rating on the stock, which indicates a potential upside of 17.49% from the previous close.
• Other analysts have differing views, with Stifel Nicolaus increasing their target to $160.00 and maintaining a "buy" rating, while Needham & Company has a price objective of $150.00.
• Silicon Laboratories has shown strong revenue growth of 32.6% year-over-year, reporting $192.85 million in revenue for the last quarter, and exceeding expectations slightly.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) had its price objective lowered by investment analysts at Morgan Stanley from $157.00 to $144.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the semiconductor company's stock. Morgan Stanley's target price would suggest a potential upside of 17.49% from the stock's previous close.

Several other equities research analysts have also recently weighed in on the company. Stifel Nicolaus upped their target price on Silicon Laboratories from $144.00 to $160.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Needham & Company LLC restated a "buy" rating and set a $150.00 price objective on shares of Silicon Laboratories in a research note on Wednesday, May 14th. Susquehanna increased their price target on Silicon Laboratories from $110.00 to $150.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Wall Street Zen upgraded Silicon Laboratories from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Finally, Benchmark reissued a "buy" rating and issued a $160.00 price objective on shares of Silicon Laboratories in a report on Tuesday, May 27th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $151.13.

Silicon Laboratories Stock Performance

Silicon Laboratories stock traded down $4.20 during mid-day trading on Wednesday, hitting $122.57. The company's stock had a trading volume of 176,753 shares, compared to its average volume of 411,157. The company has a 50 day moving average of $138.56 and a 200-day moving average of $128.29. The stock has a market cap of $3.99 billion, a PE ratio of -24.00 and a beta of 1.48. Silicon Laboratories has a one year low of $82.82 and a one year high of $160.00.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last issued its earnings results on Tuesday, August 5th. The semiconductor company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.02. Silicon Laboratories had a negative return on equity of 8.80% and a negative net margin of 25.16%. The business had revenue of $192.85 million during the quarter, compared to analysts' expectations of $192.57 million. During the same period in the prior year, the business earned ($0.56) EPS. The business's revenue for the quarter was up 32.6% compared to the same quarter last year. On average, equities research analysts forecast that Silicon Laboratories will post -0.97 EPS for the current fiscal year.

Insider Buying and Selling at Silicon Laboratories

In related news, CEO Robert Matthew Johnson sold 5,879 shares of the business's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $131.20, for a total value of $771,324.80. Following the sale, the chief executive officer owned 73,688 shares in the company, valued at approximately $9,667,865.60. The trade was a 7.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Robert J. Conrad sold 4,029 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $131.20, for a total value of $528,604.80. Following the completion of the sale, the senior vice president owned 25,380 shares in the company, valued at $3,329,856. This represents a 13.70% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,080 shares of company stock valued at $1,452,290. 1.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SLAB. Capital Research Global Investors grew its stake in Silicon Laboratories by 23.3% during the 4th quarter. Capital Research Global Investors now owns 2,131,920 shares of the semiconductor company's stock worth $264,827,000 after purchasing an additional 403,010 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of Silicon Laboratories during the 1st quarter worth about $37,249,000. Nuveen LLC acquired a new position in shares of Silicon Laboratories during the 1st quarter worth about $32,338,000. Adage Capital Partners GP L.L.C. boosted its position in shares of Silicon Laboratories by 116.7% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 525,022 shares of the semiconductor company's stock worth $59,102,000 after acquiring an additional 282,785 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Silicon Laboratories by 42.7% during the 1st quarter. Invesco Ltd. now owns 849,730 shares of the semiconductor company's stock worth $95,654,000 after acquiring an additional 254,348 shares in the last quarter.

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.

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