Silicon Laboratories (NASDAQ:SLAB) Shares Gap Down Following Analyst Downgrade

Silicon Laboratories Inc. (NASDAQ:SLAB)’s stock price gapped down before the market opened on Tuesday after Morgan Stanley lowered their price target on the stock from $123.00 to $97.00. The stock had previously closed at $104.74, but opened at $96.60. Morgan Stanley currently has an equal weight rating on the stock. Silicon Laboratories shares last traded at $102.53, with a volume of 115,830 shares traded.

Several other research analysts have also issued reports on SLAB. JPMorgan Chase & Co. reduced their target price on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday. Barclays dropped their target price on shares of Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating on the stock in a report on Tuesday. Stifel Nicolaus dropped their target price on shares of Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday. StockNews.com upgraded shares of Silicon Laboratories to a “sell” rating in a report on Wednesday, October 30th. Finally, KeyCorp lowered their target price on shares of Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Silicon Laboratories currently has an average rating of “Hold” and an average price target of $121.50.

Insiders Place Their Bets

In other Silicon Laboratories news, SVP Brandon Tolany sold 845 shares of Silicon Laboratories stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $115.00, for a total transaction of $97,175.00. Following the completion of the transaction, the senior vice president now directly owns 43,615 shares of the company’s stock, valued at $5,015,725. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.72% of the company’s stock.

Institutional Investors Weigh In On Silicon Laboratories

Institutional investors have recently modified their holdings of the business. Cullen Frost Bankers Inc. acquired a new position in Silicon Laboratories in the second quarter valued at about $28,000. Fidelis Capital Partners LLC bought a new stake in Silicon Laboratories in the first quarter valued at approximately $55,000. GAMMA Investing LLC boosted its holdings in Silicon Laboratories by 84.1% in the third quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock valued at $57,000 after acquiring an additional 227 shares during the last quarter. Daiwa Securities Group Inc. bought a new position in shares of Silicon Laboratories during the 2nd quarter worth approximately $60,000. Finally, Lazard Asset Management LLC bought a new position in shares of Silicon Laboratories during the 1st quarter worth approximately $103,000.

Silicon Laboratories Stock Performance

The business has a fifty day moving average of $112.56 and a 200-day moving average of $115.56. The company has a market capitalization of $3.37 billion, a P/E ratio of -16.85 and a beta of 1.20.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.07. Silicon Laboratories had a negative return on equity of 9.13% and a negative net margin of 36.53%. The business had revenue of $166.00 million for the quarter, compared to analysts’ expectations of $165.50 million. During the same period last year, the business earned $0.48 EPS. The business’s revenue was down 18.5% on a year-over-year basis. Sell-side analysts anticipate that Silicon Laboratories Inc. will post -3.41 EPS for the current year.

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.