Silicon Laboratories (NASDAQ:SLAB) Stock Rating Raised to “Hold” at Zacks Research

Silicon Laboratories (NASDAQ:SLAB) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

SLAB has been the topic of several other research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Monday, September 21st. Wall Street Zen raised shares of Silicon Laboratories to a “hold” rating in a research note on Saturday. Six research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $218.00.

Silicon Laboratories Stock Performance

Shares of SLAB stock opened at $221.15 on Monday. Silicon Laboratories has a 1 year low of $115.50 and a 1 year high of $223.50. The stock has a market cap of $7.38 billion, a PE ratio of -187.42 and a beta of 1.33. The stock has a fifty day moving average price of $220.07 and a 200 day moving average price of $217.56.

Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results on Tuesday, August 11th. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Silicon Laboratories had a negative net margin of 4.57% and a negative return on equity of 0.66%. The firm had revenue of $228.19 million for the quarter, compared to analyst estimates of $227.99 million. During the same quarter last year, the business earned $0.11 earnings per share. Silicon Laboratories’s revenue was up 18.3% compared to the same quarter last year. As a group, equities research analysts predict that Silicon Laboratories will post 0.52 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Silicon Laboratories in the second quarter valued at about $1,135,435,000. HBK Investments L P bought a new position in shares of Silicon Laboratories in the 2nd quarter valued at about $218,560,000. Pentwater Capital Management LP acquired a new position in Silicon Laboratories in the second quarter valued at approximately $162,111,000. Hsbc Holdings PLC acquired a new position in shares of Silicon Laboratories in the 2nd quarter valued at $67,455,000. Finally, Assenagon Asset Management S.A. boosted its position in shares of Silicon Laboratories by 395.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 239,318 shares of the semiconductor company’s stock worth $49,814,000 after purchasing an additional 190,994 shares during the last quarter.

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.