Stifel Nicolaus Has Lowered Expectations for Silicon Laboratories (NASDAQ:SLAB) Stock Price

Silicon Laboratories (NASDAQ:SLAB - Free Report) had its price objective reduced by Stifel Nicolaus from $145.00 to $120.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the semiconductor company's stock.

Other research analysts also recently issued research reports about the stock. Needham & Company LLC restated a "buy" rating and set a $150.00 price objective on shares of Silicon Laboratories in a research report on Wednesday, March 12th. StockNews.com cut Silicon Laboratories from a "hold" rating to a "sell" rating in a research report on Thursday, March 27th. KeyCorp raised their target price on Silicon Laboratories from $115.00 to $160.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 22nd. Barclays upped their price target on shares of Silicon Laboratories from $75.00 to $120.00 and gave the company an "equal weight" rating in a research report on Friday, January 17th. Finally, Benchmark reissued a "buy" rating and issued a $160.00 price objective on shares of Silicon Laboratories in a report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Silicon Laboratories has a consensus rating of "Hold" and a consensus target price of $129.70.

Silicon Laboratories Price Performance

NASDAQ SLAB traded up $2.64 during mid-day trading on Thursday, reaching $93.07. The stock had a trading volume of 200,250 shares, compared to its average volume of 333,434. The company has a fifty day moving average price of $120.78 and a 200 day moving average price of $121.47. Silicon Laboratories has a 1 year low of $82.82 and a 1 year high of $160.00. The stock has a market cap of $3.02 billion, a PE ratio of -15.65 and a beta of 1.33.

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

Insider Buying and Selling

In other Silicon Laboratories news, Director Navdeep S. Sooch sold 2,360 shares of Silicon Laboratories stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total value of $351,640.00. Following the sale, the director now owns 400,567 shares of the company's stock, valued at $59,684,483. The trade was a 0.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William G. Bock sold 2,000 shares of the firm's stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $140.77, for a total transaction of $281,540.00. Following the completion of the transaction, the director now directly owns 32,115 shares of the company's stock, valued at approximately $4,520,828.55. This trade represents a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,360 shares of company stock worth $782,610. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Silicon Laboratories

A number of institutional investors and hedge funds have recently made changes to their positions in SLAB. MML Investors Services LLC grew its position in Silicon Laboratories by 5.3% in the third quarter. MML Investors Services LLC now owns 7,328 shares of the semiconductor company's stock worth $847,000 after acquiring an additional 370 shares in the last quarter. Barclays PLC boosted its holdings in shares of Silicon Laboratories by 23.4% in the 3rd quarter. Barclays PLC now owns 70,568 shares of the semiconductor company's stock worth $8,157,000 after purchasing an additional 13,363 shares during the period. Geode Capital Management LLC increased its position in shares of Silicon Laboratories by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 781,049 shares of the semiconductor company's stock valued at $90,282,000 after purchasing an additional 15,728 shares during the last quarter. Tidal Investments LLC purchased a new stake in Silicon Laboratories during the 3rd quarter valued at $520,000. Finally, Franklin Resources Inc. boosted its stake in Silicon Laboratories by 1.9% during the third quarter. Franklin Resources Inc. now owns 231,889 shares of the semiconductor company's stock worth $27,001,000 after buying an additional 4,278 shares during the period.

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.