Citigroup Trims Silicon Laboratories (NASDAQ:SLAB) Target Price to $120.00

Silicon Laboratories (NASDAQ:SLAB) had its price target reduced by investment analysts at Citigroup from $137.00 to $120.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. Citigroup’s target price indicates a potential upside of 0.90% from the company’s previous close.

Several other equities research analysts have also recently commented on the company. Stifel Nicolaus boosted their target price on Silicon Laboratories from $136.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Barclays dropped their target price on Silicon Laboratories from $140.00 to $120.00 and set an “equal weight” rating on the stock in a report on Thursday. JPMorgan Chase & Co. decreased their price target on shares of Silicon Laboratories from $165.00 to $150.00 and set an “overweight” rating on the stock in a research report on Thursday. Summit Insights lowered shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Needham & Company LLC upgraded shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $135.00.

Silicon Laboratories Stock Up 4.1 %

Shares of Silicon Laboratories stock traded up $4.67 during trading hours on Thursday, hitting $118.93. 645,995 shares of the company’s stock traded hands, compared to its average volume of 327,570. The stock has a 50 day simple moving average of $134.38 and a 200-day simple moving average of $122.12. The company has a market cap of $3.79 billion, a PE ratio of -105.25 and a beta of 1.27. Silicon Laboratories has a twelve month low of $74.56 and a twelve month high of $166.94.

Silicon Laboratories (NASDAQ:SLAB) last issued its earnings results on Wednesday, April 24th. The semiconductor company reported ($1.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.29) by ($0.05). Silicon Laboratories had a positive return on equity of 0.97% and a negative net margin of 4.41%. The business had revenue of $106.38 million during the quarter, compared to the consensus estimate of $104.45 million. As a group, equities research analysts predict that Silicon Laboratories will post -1.66 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SLAB. Venturi Wealth Management LLC bought a new position in Silicon Laboratories during the third quarter worth about $30,000. GAMMA Investing LLC acquired a new stake in shares of Silicon Laboratories during the fourth quarter worth approximately $36,000. Gladius Capital Management LP increased its holdings in shares of Silicon Laboratories by 328.7% during the fourth quarter. Gladius Capital Management LP now owns 373 shares of the semiconductor company’s stock worth $49,000 after buying an additional 286 shares in the last quarter. CWM LLC increased its holdings in shares of Silicon Laboratories by 78.1% during the fourth quarter. CWM LLC now owns 374 shares of the semiconductor company’s stock worth $49,000 after buying an additional 164 shares in the last quarter. Finally, Global Retirement Partners LLC increased its holdings in shares of Silicon Laboratories by 31.7% during the third quarter. Global Retirement Partners LLC now owns 507 shares of the semiconductor company’s stock worth $58,000 after buying an additional 122 shares in 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.