Morgan Stanley Cuts Silicon Laboratories (NASDAQ:SLAB) Price Target to $97.00

Silicon Laboratories (NASDAQ:SLAB) had its price objective reduced by Morgan Stanley from $123.00 to $97.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the semiconductor company’s stock.

SLAB has been the subject of several other reports. Stifel Nicolaus decreased their price objective on shares of Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday. Benchmark reissued a “hold” rating on shares of Silicon Laboratories in a report on Tuesday. Barclays decreased their price objective on shares of Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating for the company in a report on Tuesday. JPMorgan Chase & Co. decreased their price objective on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, KeyCorp decreased their price objective on shares of Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating for the company 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 given a buy rating to the company’s stock. According to MarketBeat.com, Silicon Laboratories currently has an average rating of “Hold” and an average price target of $121.50.

Silicon Laboratories Stock Performance

Shares of Silicon Laboratories stock opened at $113.65 on Tuesday. The stock has a market capitalization of $3.67 billion, a PE ratio of -15.36 and a beta of 1.20. Silicon Laboratories has a 52-week low of $92.55 and a 52-week high of $154.91. The company 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 issued its earnings results on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.07. The business had revenue of $166.00 million during the quarter, compared to analysts’ expectations of $165.50 million. Silicon Laboratories had a negative net margin of 46.93% and a negative return on equity of 12.40%. The business’s revenue for the quarter was down 18.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.48 earnings per share. As a group, equities research analysts forecast that Silicon Laboratories will post -3.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other Silicon Laboratories news, SVP Brandon Tolany sold 845 shares of the company’s 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 directly owns 43,615 shares in the company, valued at $5,015,725. This represents 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.

Hedge Funds Weigh In On Silicon Laboratories

A number of hedge funds and other institutional investors have recently modified their holdings of SLAB. Capital Research Global Investors boosted its position in shares of Silicon Laboratories by 29.9% during the first quarter. Capital Research Global Investors now owns 1,217,939 shares of the semiconductor company’s stock worth $175,042,000 after acquiring an additional 280,000 shares during the last quarter. Clearbridge Investments LLC boosted its position in shares of Silicon Laboratories by 84.0% during the second quarter. Clearbridge Investments LLC now owns 273,776 shares of the semiconductor company’s stock worth $30,288,000 after acquiring an additional 125,022 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Silicon Laboratories by 29.5% during the second quarter. American Century Companies Inc. now owns 316,407 shares of the semiconductor company’s stock worth $35,004,000 after acquiring an additional 72,138 shares during the last quarter. Van Berkom & Associates Inc. boosted its position in shares of Silicon Laboratories by 8.4% during the second quarter. Van Berkom & Associates Inc. now owns 609,232 shares of the semiconductor company’s stock worth $67,399,000 after acquiring an additional 47,058 shares during the last quarter. Finally, Davidson Investment Advisors boosted its position in shares of Silicon Laboratories by 36.7% during the second quarter. Davidson Investment Advisors now owns 131,453 shares of the semiconductor company’s stock worth $14,543,000 after acquiring an additional 35,317 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.