Silicon Laboratories (NASDAQ:SLAB) Shares Gap Down to $125.41

Silicon Laboratories Inc. (NASDAQ:SLAB)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $125.41, but opened at $122.02. Silicon Laboratories shares last traded at $118.04, with a volume of 232,021 shares changing hands.

Analyst Upgrades and Downgrades

SLAB has been the topic of several recent research reports. Summit Insights lowered Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday. Barclays increased their price target on Silicon Laboratories from $120.00 to $140.00 and gave the company an “equal weight” rating in a report on Thursday, February 8th. TD Cowen increased their price target on Silicon Laboratories from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, February 8th. Stifel Nicolaus increased 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. Finally, JPMorgan Chase & Co. increased their price target on Silicon Laboratories from $145.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $143.29.

Silicon Laboratories Trading Down 9.1 %

The company has a 50-day simple moving average of $134.92 and a 200 day simple moving average of $122.17. The company has a market cap of $3.64 billion, a P/E ratio of -104.18 and a beta of 1.27.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings data on Wednesday, February 7th. The semiconductor company reported ($1.46) EPS for the quarter, beating the consensus estimate of ($1.91) by $0.45. Silicon Laboratories had a positive return on equity of 0.97% and a negative net margin of 4.41%. The company had revenue of $86.85 million for the quarter, compared to the consensus estimate of $85.32 million. On average, equities analysts forecast that Silicon Laboratories Inc. will post -1.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Silicon Laboratories

A number of hedge funds and other institutional investors have recently made changes to their positions in SLAB. Global Retirement Partners LLC grew its position in shares of Silicon Laboratories by 31.7% during the 3rd quarter. Global Retirement Partners LLC now owns 507 shares of the semiconductor company’s stock worth $58,000 after buying an additional 122 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Silicon Laboratories during the 3rd quarter worth $380,000. Raymond James & Associates grew its position in shares of Silicon Laboratories by 14.2% during the 3rd quarter. Raymond James & Associates now owns 79,046 shares of the semiconductor company’s stock worth $9,161,000 after buying an additional 9,845 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Silicon Laboratories by 20.0% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 733 shares of the semiconductor company’s stock worth $85,000 after buying an additional 122 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Silicon Laboratories by 6.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,372 shares of the semiconductor company’s stock worth $738,000 after buying an additional 403 shares in the last quarter.

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.