JPMorgan Chase & Co. Cuts Silicon Laboratories (NASDAQ:SLAB) Price Target to $135.00

Silicon Laboratories (NASDAQ:SLAB) had its target price cut by JPMorgan Chase & Co. from $150.00 to $135.00 in a report issued on Tuesday,Benzinga reports. They currently have an overweight rating on the semiconductor company’s stock.

SLAB has been the topic of a number of other reports. Stifel Nicolaus cut their target price on Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday. KeyCorp cut their target price on Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating on the stock in a research report on Tuesday. StockNews.com raised Silicon Laboratories to a “sell” rating in a research report on Wednesday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $150.00 target price on shares of Silicon Laboratories in a research report on Thursday, July 25th. Finally, Barclays cut their target price on Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Tuesday. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Silicon Laboratories currently has a consensus rating of “Hold” and an average price target of $121.50.

Silicon Laboratories Stock Performance

Silicon Laboratories stock opened at $113.65 on Tuesday. The stock’s 50 day moving average price is $112.22 and its 200 day moving average price is $115.47. The firm has a market capitalization of $3.67 billion, a PE ratio of -15.36 and a beta of 1.20. Silicon Laboratories has a one year low of $92.55 and a one year high of $154.91.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings results on Monday, November 4th. The semiconductor company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.07. The firm had revenue of $166.00 million for the quarter, compared to analyst estimates of $165.50 million. Silicon Laboratories had a negative return on equity of 12.40% and a negative net margin of 46.93%. Silicon Laboratories’s revenue for the quarter was down 18.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.48 EPS. On average, analysts forecast that Silicon Laboratories will post -3.41 earnings per share for the current fiscal year.

Insider Activity at Silicon Laboratories

In related news, SVP Brandon Tolany sold 845 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $115.00, for a total transaction of $97,175.00. Following the sale, the senior vice president now directly owns 43,615 shares of the company’s stock, valued at approximately $5,015,725. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.72% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SLAB. BNP Paribas Financial Markets grew its stake in Silicon Laboratories by 5.9% during the 1st quarter. BNP Paribas Financial Markets now owns 44,997 shares of the semiconductor company’s stock worth $6,467,000 after buying an additional 2,526 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in Silicon Laboratories during the 1st quarter worth $55,000. Texas Permanent School Fund Corp grew its stake in Silicon Laboratories by 2.8% during the 1st quarter. Texas Permanent School Fund Corp now owns 27,916 shares of the semiconductor company’s stock worth $4,012,000 after buying an additional 768 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in Silicon Laboratories by 13.5% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 5,977 shares of the semiconductor company’s stock worth $859,000 after buying an additional 709 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in Silicon Laboratories by 88.9% during the 1st quarter. SG Americas Securities LLC now owns 1,840 shares of the semiconductor company’s stock worth $264,000 after buying an additional 866 shares during 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.