Morgan Stanley Has Lowered Expectations for Silicon Laboratories (NASDAQ:SLAB) Stock Price

Silicon Laboratories (NASDAQ:SLABGet Free Report) had its price target reduced by Morgan Stanley from $123.00 to $97.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s price objective indicates a potential downside of 9.54% from the company’s current price.

Several other equities analysts also recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday. StockNews.com upgraded shares of Silicon Laboratories to a “sell” rating in a report on Wednesday, October 30th. Benchmark restated a “hold” rating on shares of Silicon Laboratories in a report on Tuesday. KeyCorp cut their price objective on shares of Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Needham & Company LLC restated a “buy” rating and set a $150.00 price objective on shares of Silicon Laboratories in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $121.50.

Get Our Latest Research Report on SLAB

Silicon Laboratories Stock Performance

SLAB stock traded up $2.49 during mid-day trading on Tuesday, reaching $107.23. 491,998 shares of the stock traded hands, compared to its average volume of 295,679. The stock has a market capitalization of $3.46 billion, a PE ratio of -17.30 and a beta of 1.20. Silicon Laboratories has a one year low of $90.65 and a one year high of $154.91. The business has a 50-day moving average price of $112.56 and a two-hundred day moving average price of $115.56.

Silicon Laboratories (NASDAQ:SLABGet Free Report) last released its quarterly earnings data on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.07. Silicon Laboratories had a negative net margin of 36.53% and a negative return on equity of 9.13%. The company had revenue of $166.00 million during the quarter, compared to analyst estimates of $165.50 million. During the same period in the prior year, the firm earned $0.48 earnings per share. The firm’s revenue for the quarter was down 18.5% compared to the same quarter last year. On average, equities analysts expect that Silicon Laboratories will post -3.41 earnings per share for the current fiscal year.

Insider Activity

In other Silicon Laboratories news, SVP Brandon Tolany sold 845 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $115.00, for a total value of $97,175.00. Following the transaction, the senior vice president now owns 43,615 shares in the company, valued at approximately $5,015,725. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.72% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. acquired a new stake in shares of Silicon Laboratories in the 2nd quarter worth $28,000. Fidelis Capital Partners LLC acquired a new stake in shares of Silicon Laboratories in the 1st quarter worth $55,000. GAMMA Investing LLC increased its stake in shares of Silicon Laboratories by 84.1% in the 3rd quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock worth $57,000 after acquiring an additional 227 shares during the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Silicon Laboratories in the 2nd quarter worth $60,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Silicon Laboratories in the 2nd quarter worth $82,000.

Silicon Laboratories Company Profile

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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.

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Analyst Recommendations for Silicon Laboratories (NASDAQ:SLAB)

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