Zacks Investment Research downgraded shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) from a buy rating to a hold rating in a report released on Wednesday.

According to Zacks, “Silicon Laboratories Inc. is a provider of silicon, software and solutions for the Internet of Things (IoT), Internet infrastructure, industrial, consumer and automotive markets. The Company operates through mixed-signal analog intensive products segment. It provides analog-intensive, mixed-signal solutions for use in a range of electronic products in various applications for the IoT market. It provides a range of timing and isolation products for infrastructure applications, including clocks and oscillators for networking equipment, data centers and wireless base stations, as well as digital isolators and current sensors for industrial power supplies and hybrid-electric vehicles. It provides broadcast products, such as television tuners and demodulators and automotive radio tuners, and access products, including subscriber line interface circuits for voice over Internet Protocol, embedded modems, and Power over Ethernet power source equipment and powered device integrated circuits. “

Several other research analysts also recently commented on the company. BidaskClub downgraded Silicon Laboratories from a strong-buy rating to a buy rating in a research note on Friday, June 16th. Stifel Nicolaus restated a buy rating and issued a $82.00 target price on shares of Silicon Laboratories in a research note on Tuesday, June 6th. Needham & Company LLC restated a buy rating and issued a $85.00 target price (up previously from $80.00) on shares of Silicon Laboratories in a research note on Thursday, July 27th. Finally, B. Riley restated a buy rating and issued a $90.00 target price on shares of Silicon Laboratories in a research note on Friday, July 28th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $82.44.

Silicon Laboratories (SLAB) traded down 1.54% during midday trading on Wednesday, reaching $79.90. 306,819 shares of the company traded hands. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of 47.64 and a beta of 1.25. Silicon Laboratories has a one year low of $55.44 and a one year high of $81.55. The firm has a 50-day moving average price of $75.48 and a 200-day moving average price of $72.76.

Silicon Laboratories (NASDAQ:SLAB) last issued its earnings results on Wednesday, July 26th. The semiconductor company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.71 by $0.08. Silicon Laboratories had a return on equity of 11.15% and a net margin of 9.88%. The business had revenue of $190.10 million during the quarter, compared to the consensus estimate of $186.46 million. During the same quarter last year, the company earned $0.75 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. Equities analysts predict that Silicon Laboratories will post $3.06 EPS for the current fiscal year.

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In other news, Director William P. Wood sold 5,000 shares of Silicon Laboratories stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $68.55, for a total transaction of $342,750.00. Following the completion of the sale, the director now owns 30,526 shares in the company, valued at approximately $2,092,557.30. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO George Tyson Tuttle sold 3,713 shares of Silicon Laboratories stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $80.00, for a total value of $297,040.00. Following the sale, the chief executive officer now owns 204,879 shares of the company’s stock, valued at approximately $16,390,320. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,500 shares of company stock valued at $3,736,179. Corporate insiders own 34.82% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. boosted its position in shares of Silicon Laboratories by 4.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 49,010 shares of the semiconductor company’s stock valued at $3,350,000 after acquiring an additional 2,136 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Silicon Laboratories by 62.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 841,592 shares of the semiconductor company’s stock worth $57,523,000 after buying an additional 323,123 shares during the last quarter. Vanguard Group Inc. lifted its position in Silicon Laboratories by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 3,292,023 shares of the semiconductor company’s stock worth $242,129,000 after buying an additional 160,997 shares during the last quarter. First Trust Advisors LP lifted its position in Silicon Laboratories by 54.4% in the 2nd quarter. First Trust Advisors LP now owns 40,486 shares of the semiconductor company’s stock worth $2,767,000 after buying an additional 14,265 shares during the last quarter. Finally, BlackRock Inc. lifted its position in Silicon Laboratories by 25,072.0% in the 1st quarter. BlackRock Inc. now owns 4,558,402 shares of the semiconductor company’s stock worth $335,271,000 after buying an additional 4,540,293 shares during the last quarter. Hedge funds and other institutional investors own 88.99% of the company’s stock.

Silicon Laboratories Company Profile

Silicon Laboratories Inc is a provider of silicon, software and solutions for the Internet of Things (IoT), Internet infrastructure, industrial, consumer and automotive markets. The Company operates through mixed-signal analog intensive products segment. It provides analog-intensive, mixed-signal solutions for use in a range of electronic products in various applications for the IoT market.

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