Silicon Laboratories (NASDAQ:SLAB) Price Target Lowered to $80.00 at Barclays

Silicon Laboratories (NASDAQ:SLAB - Free Report) had its price target trimmed by Barclays from $120.00 to $80.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the semiconductor company's stock.

Other equities research analysts have also issued research reports about the stock. Stifel Nicolaus dropped their price objective on shares of Silicon Laboratories from $145.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Needham & Company LLC reissued a "buy" rating and issued a $150.00 price objective on shares of Silicon Laboratories in a research report on Wednesday, March 12th. Benchmark reaffirmed a "buy" rating and issued a $160.00 target price on shares of Silicon Laboratories in a research report on Wednesday, March 12th. StockNews.com downgraded Silicon Laboratories from a "hold" rating to a "sell" rating in a report on Thursday, March 27th. Finally, KeyCorp increased their price objective on shares of Silicon Laboratories from $115.00 to $160.00 and gave the company an "overweight" rating in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $129.00.

Silicon Laboratories Price Performance

SLAB stock traded down $1.12 on Tuesday, hitting $102.76. 319,614 shares of the company were exchanged, compared to its average volume of 326,824. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of -17.30 and a beta of 1.33. The business's fifty day moving average is $116.65 and its two-hundred day moving average is $121.02. Silicon Laboratories has a twelve month low of $82.82 and a twelve month high of $160.00.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.11). The firm had revenue of $166.25 million during the quarter, compared to the consensus estimate of $166.09 million. Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The firm's quarterly revenue was up 91.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.19) earnings per share. Equities research analysts expect that Silicon Laboratories will post -0.97 earnings per share for the current year.

Insider Activity

In related news, Director William G. Bock sold 1,000 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $149.43, for a total value of $149,430.00. Following the sale, the director now directly owns 31,115 shares of the company's stock, valued at $4,649,514.45. This represents a 3.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Navdeep S. Sooch sold 2,360 shares of the firm's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total transaction of $351,640.00. Following the transaction, the director now directly owns 400,567 shares of the company's stock, valued at approximately $59,684,483. This represents a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.60% of the company's stock.

Institutional Trading of Silicon Laboratories

Several hedge funds and other institutional investors have recently bought and sold shares of SLAB. Capital Research Global Investors raised its position in shares of 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 valued at $264,827,000 after acquiring an additional 403,010 shares in the last quarter. Norges Bank bought a new stake in Silicon Laboratories during the fourth quarter valued at $34,622,000. Invesco Ltd. raised its holdings in shares of Silicon Laboratories by 46.9% during the fourth quarter. Invesco Ltd. now owns 595,382 shares of the semiconductor company's stock worth $73,958,000 after purchasing an additional 190,085 shares during the period. GAMMA Investing LLC lifted its position in shares of Silicon Laboratories by 22,374.1% in the 1st quarter. GAMMA Investing LLC now owns 126,754 shares of the semiconductor company's stock worth $14,269,000 after buying an additional 126,190 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Silicon Laboratories in the 4th quarter worth about $14,252,000.

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.