KeyCorp Lowers Silicon Laboratories (NASDAQ:SLAB) Price Target to $115.00

Silicon Laboratories (NASDAQ:SLAB) had its price target lowered by KeyCorp from $150.00 to $115.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an overweight rating on the semiconductor company’s stock.

Several other equities research analysts have also recently weighed in on SLAB. StockNews.com raised Silicon Laboratories to a “sell” rating in a research note on Wednesday, October 30th. Needham & Company LLC restated a “buy” rating and set a $150.00 price target on shares of Silicon Laboratories in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $121.50.

Silicon Laboratories Price Performance

Shares of SLAB opened at $104.46 on Tuesday. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of -16.85 and a beta of 1.20. Silicon Laboratories has a 1 year low of $90.65 and a 1 year high of $154.91. The business’s 50 day simple moving average is $112.56 and its 200-day simple moving average is $115.56.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings results on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $165.50 million. During the same quarter in the prior year, the firm earned $0.48 earnings per share. Silicon Laboratories’s revenue was down 18.5% on a year-over-year basis. On average, sell-side analysts expect that Silicon Laboratories will post -3.41 earnings per share for the current year.

Insider Transactions at Silicon Laboratories

In related news, SVP Brandon Tolany sold 845 shares of Silicon Laboratories stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $115.00, for a total value of $97,175.00. Following the completion of the sale, the senior vice president now directly owns 43,615 shares in the company, valued at $5,015,725. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.72% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SLAB. Cullen Frost Bankers Inc. bought a new position in shares of Silicon Laboratories during the second quarter valued at approximately $28,000. Fidelis Capital Partners LLC purchased a new stake in Silicon Laboratories during the first quarter worth $55,000. GAMMA Investing LLC increased its holdings 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 valued at $57,000 after acquiring an additional 227 shares during the period. Daiwa Securities Group Inc. bought a new position in shares of Silicon Laboratories in the 2nd quarter worth $60,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of Silicon Laboratories during the 1st quarter worth $103,000.

Silicon Laboratories Company Profile

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.