Silicon Laboratories (NASDAQ:SLAB) Price Target Cut to $115.00 by Analysts at KeyCorp

Silicon Laboratories (NASDAQ:SLAB) had its price objective reduced by KeyCorp from $150.00 to $115.00 in a research note released on Tuesday morning,Benzinga reports. KeyCorp currently has an overweight rating on the semiconductor company’s stock.

Other research analysts have also issued research reports about the stock. StockNews.com raised shares of Silicon Laboratories to a “sell” rating in a research note on Wednesday, October 30th. Needham & Company LLC reissued a “buy” rating and issued a $150.00 price objective on shares of Silicon Laboratories in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Silicon Laboratories has a consensus rating of “Hold” and a consensus price target of $121.50.

Silicon Laboratories Price Performance

Shares of SLAB opened at $113.65 on Tuesday. Silicon Laboratories has a 1-year low of $92.55 and a 1-year high of $154.91. The stock has a market cap of $3.67 billion, a PE ratio of -15.36 and a beta of 1.20. The firm has a 50-day simple moving average of $112.22 and a two-hundred day simple moving average of $115.47.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings results on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.07. Silicon Laboratories had a negative net margin of 46.93% and a negative return on equity of 12.40%. The business had revenue of $166.00 million during the quarter, compared to analysts’ expectations of $165.50 million. During the same period last year, the business earned $0.48 earnings per share. The business’s revenue for the quarter was down 18.5% on a year-over-year basis. As a group, sell-side analysts expect that Silicon Laboratories will post -3.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Brandon Tolany sold 845 shares of Silicon Laboratories stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $115.00, for a total value of $97,175.00. Following the completion of the transaction, the senior vice president now owns 43,615 shares in the company, valued at $5,015,725. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. lifted its stake in Silicon Laboratories by 8.5% in the second quarter. Harbor Capital Advisors Inc. now owns 1,292 shares of the semiconductor company’s stock worth $143,000 after acquiring an additional 101 shares during the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of Silicon Laboratories by 1.1% during the 1st quarter. Orion Portfolio Solutions LLC now owns 9,858 shares of the semiconductor company’s stock worth $1,417,000 after buying an additional 103 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Silicon Laboratories by 2.3% during the 2nd quarter. Victory Capital Management Inc. now owns 6,638 shares of the semiconductor company’s stock worth $734,000 after buying an additional 150 shares during the last quarter. Arizona State Retirement System lifted its position in shares of Silicon Laboratories by 2.3% during the 2nd quarter. Arizona State Retirement System now owns 8,936 shares of the semiconductor company’s stock worth $989,000 after buying an additional 202 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Silicon Laboratories by 84.1% during the 3rd quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock worth $57,000 after buying an additional 227 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.