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

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

A number of other equities research analysts have also recently commented on the company. Benchmark reissued a “hold” rating on shares of Silicon Laboratories in a report on Thursday. Stifel Nicolaus raised their price target on Silicon Laboratories from $136.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, January 2nd. Summit Insights lowered Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday. Needham & Company LLC upgraded Silicon Laboratories from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a research report on Thursday. Finally, Barclays cut their price objective on Silicon Laboratories from $140.00 to $120.00 and set an “equal weight” rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $135.00.

Silicon Laboratories Price Performance

Shares of NASDAQ:SLAB traded up $4.67 during midday trading on Thursday, hitting $118.93. The company had a trading volume of 645,995 shares, compared to its average volume of 327,570. The company has a market cap of $3.79 billion, a price-to-earnings ratio of -105.25 and a beta of 1.27. Silicon Laboratories has a 12-month low of $74.56 and a 12-month high of $166.94. The company has a fifty day moving average of $134.38 and a two-hundred day moving average of $122.12.

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

Hedge Funds Weigh In On Silicon Laboratories

A number of large investors have recently bought and sold shares of the business. L. Roy Papp & Associates LLP increased its position in shares of Silicon Laboratories by 1.2% during the fourth quarter. L. Roy Papp & Associates LLP now owns 9,920 shares of the semiconductor company’s stock worth $1,312,000 after purchasing an additional 120 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Silicon Laboratories by 20.0% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 733 shares of the semiconductor company’s stock worth $85,000 after purchasing an additional 122 shares in the last quarter. Global Retirement Partners LLC increased its position 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 purchasing an additional 122 shares in the last quarter. Coldstream Capital Management Inc. increased its position in shares of Silicon Laboratories by 6.9% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,431 shares of the semiconductor company’s stock worth $322,000 after purchasing an additional 157 shares in the last quarter. Finally, CWM LLC increased its position 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 purchasing an additional 164 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.