Silicon Laboratories (NASDAQ:SLAB) Given New $150.00 Price Target at JPMorgan Chase & Co.

Silicon Laboratories (NASDAQ:SLAB) had its price objective cut by JPMorgan Chase & Co. from $165.00 to $150.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 26.60% from the stock’s current price.

A number of other research firms also recently commented on SLAB. TD Cowen dropped their price objective on Silicon Laboratories from $155.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday. Summit Insights downgraded Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday. Barclays increased their price objective on Silicon Laboratories from $120.00 to $140.00 and gave the stock an “equal weight” rating in a report on Thursday, February 8th. Stifel Nicolaus increased their price objective on Silicon Laboratories from $136.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Finally, Needham & Company LLC upgraded Silicon Laboratories from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $141.00.

Silicon Laboratories Stock Up 3.7 %

Shares of SLAB traded up $4.22 during trading hours on Thursday, reaching $118.48. The company’s stock had a trading volume of 345,477 shares, compared to its average volume of 323,414. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of -104.85 and a beta of 1.27. Silicon Laboratories has a 1-year low of $74.56 and a 1-year high of $166.94. The company has a 50 day moving average of $134.92 and a two-hundred day moving average of $122.17.

Silicon Laboratories (NASDAQ:SLAB) last issued its earnings results on Wednesday, April 24th. The semiconductor company reported ($1.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.29) by ($0.05). The business had revenue of $106.38 million during the quarter, compared to analyst estimates of $104.45 million. Silicon Laboratories had a negative net margin of 4.41% and a positive return on equity of 0.97%. As a group, analysts forecast that Silicon Laboratories will post -1.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Silicon Laboratories

Several hedge funds have recently modified their holdings of the business. Venturi Wealth Management LLC bought a new position in Silicon Laboratories in the third quarter worth $30,000. GAMMA Investing LLC bought a new position in Silicon Laboratories in the fourth quarter worth $36,000. Gladius Capital Management LP lifted its position in Silicon Laboratories by 328.7% in the fourth quarter. Gladius Capital Management LP now owns 373 shares of the semiconductor company’s stock worth $49,000 after purchasing an additional 286 shares during the period. CWM LLC lifted its position in Silicon Laboratories by 78.1% in the fourth quarter. CWM LLC now owns 374 shares of the semiconductor company’s stock worth $49,000 after purchasing an additional 164 shares during the period. Finally, Global Retirement Partners LLC lifted its position in Silicon Laboratories by 31.7% in the third quarter. Global Retirement Partners LLC now owns 507 shares of the semiconductor company’s stock worth $58,000 after purchasing an additional 122 shares during the period.

About Silicon Laboratories

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.