Silicon Laboratories (SLAB) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of Silicon Laboratories (NASDAQ:SLAB) from a hold rating to a buy rating in a research note issued to investors on Saturday morning. Zacks Investment Research currently has $82.00 target price on the semiconductor company’s stock.
According to Zacks, “Silicon Laboratories Inc. design and develop proprietary, analog-intensive, mixed-signal integrated circuits for the rapidly growing communications industry. Mixed-signal integrated circuits are electronic components that convert real-world analog signals, such as sound and radio waves, into digital signals that electronic products can process. Mixed-signal integrated circuits are critical components of numerous communications products, including cellular telephones, cable and satellite set-top boxes, modems and fax machines. “
A number of other equities analysts have also recently issued reports on the company. BidaskClub cut Silicon Laboratories from a strong-buy rating to a buy rating in a report on Friday, June 16th. B. Riley restated a buy rating and set a $81.00 target price on shares of Silicon Laboratories in a report on Tuesday, May 2nd. Drexel Hamilton restated a buy rating and set a $85.00 target price (up previously from $80.00) on shares of Silicon Laboratories in a report on Saturday, April 29th. Stifel Nicolaus restated a buy rating and set a $85.00 target price (up previously from $82.00) on shares of Silicon Laboratories in a report on Thursday, July 27th. Finally, Needham & Company LLC restated a buy rating and set a $85.00 target price (up previously from $80.00) on shares of Silicon Laboratories in a report on Thursday, July 27th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $80.10.
Silicon Laboratories (NASDAQ:SLAB) opened at 73.45 on Friday. The company has a 50 day moving average of $73.06 and a 200-day moving average of $72.23. The stock has a market capitalization of $3.13 billion, a P/E ratio of 43.80 and a beta of 1.25. Silicon Laboratories has a 52-week low of $54.30 and a 52-week high of $79.15.
Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $0.79 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.08. The firm had revenue of $190.10 million during the quarter, compared to analyst estimates of $186.46 million. Silicon Laboratories had a return on equity of 7.42% and a net margin of 8.72%. The company’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the company earned $0.75 earnings per share. Equities research analysts anticipate that Silicon Laboratories will post $3.06 EPS for the current year.
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In other news, Director William G. Bock sold 2,500 shares of Silicon Laboratories stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $75.45, for a total transaction of $188,625.00. Following the transaction, the director now owns 48,426 shares in the company, valued at approximately $3,653,741.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John C. Hollister sold 2,000 shares of Silicon Laboratories stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $71.20, for a total value of $142,400.00. Following the transaction, the chief financial officer now owns 72,767 shares in the company, valued at approximately $5,181,010.40. The disclosure for this sale can be found here. Insiders have sold a total of 101,000 shares of company stock worth $7,515,875 in the last quarter. 34.82% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Capstone Asset Management Co. acquired a new position in Silicon Laboratories during the first quarter valued at $222,000. Louisiana State Employees Retirement System boosted its position in Silicon Laboratories by 2.9% in the first quarter. Louisiana State Employees Retirement System now owns 10,600 shares of the semiconductor company’s stock valued at $780,000 after buying an additional 300 shares during the period. Nationwide Fund Advisors boosted its position in Silicon Laboratories by 1.7% in the first quarter. Nationwide Fund Advisors now owns 118,976 shares of the semiconductor company’s stock valued at $8,751,000 after buying an additional 1,973 shares during the period. Profund Advisors LLC boosted its position in Silicon Laboratories by 10.0% in the first quarter. Profund Advisors LLC now owns 14,242 shares of the semiconductor company’s stock valued at $1,047,000 after buying an additional 1,296 shares during the period. Finally, First Mercantile Trust Co. boosted its position in Silicon Laboratories by 43.9% in the first quarter. First Mercantile Trust Co. now owns 10,091 shares of the semiconductor company’s stock valued at $743,000 after buying an additional 3,079 shares during the period. Institutional investors and hedge funds own 89.01% of the company’s stock.
About Silicon Laboratories
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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