Silicon Laboratories’ (SLAB) “Buy” Rating Reaffirmed at Needham & Company LLC
Needham & Company LLC reissued their buy rating on shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) in a research report report published on Thursday morning, MarketBeat.com reports. They currently have a $85.00 price objective on the semiconductor company’s stock, up from their previous price objective of $80.00.
SLAB has been the subject of several other research reports. Zacks Investment Research upgraded Silicon Laboratories from a sell rating to a hold rating in a research report on Wednesday, June 28th. Stifel Nicolaus reiterated a buy rating and set a $82.00 target price on shares of Silicon Laboratories in a research report on Tuesday, June 6th. BidaskClub cut Silicon Laboratories from a buy rating to a hold rating in a research report on Thursday, June 29th. DA Davidson increased their target price on Silicon Laboratories from $80.00 to $85.00 and gave the stock a buy rating in a research report on Wednesday, April 26th. Finally, Canaccord Genuity reiterated a buy rating and set a $83.00 target price on shares of Silicon Laboratories in a research report on Thursday, April 27th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $80.30.
Silicon Laboratories (NASDAQ:SLAB) traded up 0.13% on Thursday, reaching $75.25. The company’s stock had a trading volume of 4,495 shares. The stock has a 50-day moving average of $70.53 and a 200-day moving average of $71.19. Silicon Laboratories has a one year low of $52.00 and a one year high of $79.15. The stock has a market cap of $3.20 billion, a P/E ratio of 44.87 and a beta of 1.24.
Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Wednesday, July 26th. The semiconductor company reported $0.79 earnings per share (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 firm had revenue of $190.10 million during the quarter, compared to analysts’ expectations of $186.46 million. During the same quarter last year, the business posted $0.75 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. On average, 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 that occurred on Monday, July 3rd. The stock was sold at an average price of $68.55, for a total value of $342,750.00. Following the completion of the transaction, the director now owns 30,526 shares in the company, valued at approximately $2,092,557.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO John C. Hollister sold 2,000 shares of Silicon Laboratories stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $68.25, for a total value of $136,500.00. Following the completion of the transaction, the chief financial officer now owns 70,767 shares of the company’s stock, valued at approximately $4,829,847.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 120,326 shares of company stock valued at $8,853,337. Company insiders own 34.82% of the company’s stock.
Large investors have recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. raised its stake in shares of Silicon Laboratories by 3.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,685 shares of the semiconductor company’s stock worth $124,000 after buying an additional 49 shares in the last quarter. Pier 88 Investment Partners LLC acquired a new stake in shares of Silicon Laboratories during the second quarter worth about $187,000. Capstone Asset Management Co. acquired a new stake in shares of Silicon Laboratories during the first quarter worth about $222,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Silicon Laboratories during the first quarter worth about $224,000. Finally, LS Investment Advisors LLC raised its stake in shares of Silicon Laboratories by 18.0% in the second quarter. LS Investment Advisors LLC now owns 3,355 shares of the semiconductor company’s stock worth $229,000 after buying an additional 512 shares in the last quarter. 89.44% of the stock is owned by hedge funds and other institutional investors.
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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