Zacks Research upgraded shares of Silicon Laboratories (NASDAQ:SLAB – Free Report) from a strong sell rating to a hold rating in a report published on Monday,Zacks reports.
A number of other equities analysts have also commented on the stock. Wall Street Zen raised shares of Silicon Laboratories to a “hold” rating in a research report on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Silicon Laboratories in a research note on Monday, September 21st. Six analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $218.00.
Check Out Our Latest Stock Analysis on Silicon Laboratories
Silicon Laboratories Price Performance
Silicon Laboratories (NASDAQ:SLAB – Get Free Report) last posted its earnings results on Tuesday, August 11th. The semiconductor company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $228.19 million during 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 was up 18.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.11 earnings per share. On average, equities analysts anticipate that Silicon Laboratories will post 0.52 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Silicon Laboratories
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arizona State Retirement System raised its stake in Silicon Laboratories by 0.8% in the 2nd quarter. Arizona State Retirement System now owns 9,097 shares of the semiconductor company’s stock valued at $1,988,000 after acquiring an additional 74 shares during the period. Cim Investment Management Inc. boosted its position in Silicon Laboratories by 7.5% during the second quarter. Cim Investment Management Inc. now owns 1,151 shares of the semiconductor company’s stock worth $252,000 after purchasing an additional 80 shares during the period. EverSource Wealth Advisors LLC boosted its position in Silicon Laboratories by 66.7% during the first quarter. EverSource Wealth Advisors LLC now owns 225 shares of the semiconductor company’s stock worth $47,000 after purchasing an additional 90 shares during the period. State of Michigan Retirement System boosted its position in Silicon Laboratories by 1.3% during the first quarter. State of Michigan Retirement System now owns 7,897 shares of the semiconductor company’s stock worth $1,644,000 after purchasing an additional 100 shares during the period. Finally, Harbor Investment Advisory LLC purchased a new position in shares of Silicon Laboratories in the second quarter worth about $28,000.
About Silicon Laboratories
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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