Silicon Laboratories (NASDAQ:SLAB) Stock Rating Upgraded by Wall Street Zen

Silicon Laboratories (NASDAQ:SLAB – Get Free Report) was upgraded by Wall Street Zen to a “hold” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other brokerages also recently commented on SLAB. Zacks Research downgraded shares of Silicon Laboratories from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Monday, September 21st. Five investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $218.00.

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Silicon Laboratories Stock Performance

Silicon Laboratories stock opened at $222.04 on Friday. Silicon Laboratories has a 1-year low of $115.50 and a 1-year high of $223.50. The firm’s fifty day simple moving average is $219.94 and its 200-day simple moving average is $217.36. The company has a market capitalization of $7.41 billion, a P/E ratio of -188.17 and a beta of 1.33.

Silicon Laboratories (NASDAQ:SLAB – Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The semiconductor company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. The company had revenue of $228.19 million for the quarter, compared to the consensus estimate of $227.99 million. Silicon Laboratories had a negative return on equity of 0.66% and a negative net margin of 4.57%. The company’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.11 EPS. On average, equities research analysts predict that Silicon Laboratories will post 0.52 earnings per share for the current year.

Institutional Trading of Silicon Laboratories

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Silicon Laboratories during the 2nd quarter worth $1,135,435,000. HBK Investments L P bought a new stake in shares of Silicon Laboratories during the 2nd quarter valued at $218,560,000. Pentwater Capital Management LP bought a new stake in shares of Silicon Laboratories during the 2nd quarter valued at $162,111,000. Hsbc Holdings PLC acquired a new position in shares of Silicon Laboratories in the 2nd quarter valued at $67,455,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Silicon Laboratories in the 2nd quarter valued at $45,699,000.

Silicon Laboratories Company Profile

(Get Free Report)

Silicon Laboratories Inc is a fabless semiconductor company focused on wireless connectivity solutions for the Internet of Things (IoT). The company develops technologies that enable connected devices to communicate, sense, and operate efficiently across residential, commercial, industrial, and consumer applications.

Its product portfolio includes wireless system-on-chips, microcontrollers, modules, sensors, development kits, software, and development tools. Silicon Labs supports technologies and protocols such as Bluetooth, Wi-Fi, Zigbee, Thread, Matter, and proprietary sub-GHz wireless communications.

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