Barclays Sticks to Their Hold Rating for Silicon Laboratories (SLAB)
In a report released yesterday, Thomas O’Malley from Barclays maintained a Hold rating on Silicon Laboratories, with a price target of $130.00. The company’s shares closed yesterday at $149.05.
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O’Malley covers the Technology sector, focusing on stocks such as Astera Labs, Inc., Cirrus Logic, and Micron. According to TipRanks, O’Malley has an average return of 29.2% and a 61.50% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Silicon Laboratories with a $147.00 average price target, implying a -1.38% downside from current levels. In a report released yesterday, RBC Capital also initiated coverage with a Hold rating on the stock with a $160.00 price target.
Based on Silicon Laboratories’ latest earnings release for the quarter ending October 4, the company reported a quarterly revenue of $206 million and a GAAP net loss of $9.94 million. In comparison, last year the company earned a revenue of $166.4 million and had a GAAP net loss of $28.5 million
Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SLAB in relation to earlier this year. Last month, Brandon Tolany, the Sr VP WW Sales & Marketing of SLAB sold 6,200.00 shares for a total of $871,633.28.
