Silicon Laboratories (NASDAQ:SLAB) Downgraded by Summit Insights to "Hold"

Summit Insights downgraded shares of Silicon Laboratories (NASDAQ:SLAB - Free Report) from a buy rating to a hold rating in a report published on Wednesday, Marketbeat reports.

SLAB has been the subject of several other reports. StockNews.com lowered Silicon Laboratories from a hold rating to a sell rating in a report on Friday, December 29th. Barclays lifted their price target on Silicon Laboratories from $120.00 to $140.00 and gave the company an equal weight rating in a report on Thursday, February 8th. Stifel Nicolaus lifted their price target on Silicon Laboratories from $136.00 to $155.00 and gave the company a buy rating in a report on Tuesday, January 2nd. TD Cowen boosted their target price on Silicon Laboratories from $140.00 to $155.00 and gave the stock an outperform rating in a report on Thursday, February 8th. Finally, JPMorgan Chase & Co. boosted their target price on Silicon Laboratories from $145.00 to $165.00 and gave the stock an overweight rating in a report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $143.29.

Silicon Laboratories Trading Down 8.9 %

NASDAQ:SLAB traded down $11.15 on Wednesday, hitting $114.26. 1,425,865 shares of the company's stock traded hands, compared to its average volume of 323,540. Silicon Laboratories has a 1 year low of $74.56 and a 1 year high of $166.94. The firm has a 50-day moving average price of $134.92 and a 200-day moving average price of $122.17. The company has a market cap of $3.65 billion, a PE ratio of -101.11 and a beta of 1.27.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last released its earnings results on Wednesday, February 7th. The semiconductor company reported ($1.46) earnings per share for the quarter, beating the consensus estimate of ($1.91) by $0.45. Silicon Laboratories had a positive return on equity of 0.97% and a negative net margin of 4.41%. The company had revenue of $86.85 million for the quarter, compared to analysts' expectations of $85.32 million. On average, research analysts forecast that Silicon Laboratories will post -1.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Global Retirement Partners LLC lifted its position in shares of Silicon Laboratories by 31.7% in the third quarter. Global Retirement Partners LLC now owns 507 shares of the semiconductor company's stock valued at $58,000 after buying an additional 122 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Silicon Laboratories in the third quarter valued at approximately $380,000. Raymond James & Associates lifted its position in shares of Silicon Laboratories by 14.2% in the third quarter. Raymond James & Associates now owns 79,046 shares of the semiconductor company's stock valued at $9,161,000 after buying an additional 9,845 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Silicon Laboratories by 20.0% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 733 shares of the semiconductor company's stock valued at $85,000 after buying an additional 122 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Silicon Laboratories by 6.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,372 shares of the semiconductor company's stock valued at $738,000 after buying an additional 403 shares during the last quarter.

Silicon Laboratories Company Profile

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.