Silicon Laboratories Inc. (NASDAQ:SLAB)‘s stock had its “hold” rating reiterated by Needham & Company LLC in a research note issued on Wednesday.
SLAB has been the subject of a number of other research reports. Roth Capital started coverage on shares of Silicon Laboratories in a report on Wednesday, September 28th. They issued a “buy” rating and a $65.00 price target for the company. Stifel Nicolaus reiterated a “buy” rating and issued a $67.00 price target (up previously from $65.00) on shares of Silicon Laboratories in a report on Friday, August 26th. TheStreet upgraded shares of Silicon Laboratories from a “hold” rating to a “buy” rating in a report on Wednesday, July 27th. Zacks Investment Research downgraded shares of Silicon Laboratories from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 28th. Finally, Drexel Hamilton restated a “buy” rating and set a $52.00 target price on shares of Silicon Laboratories in a report on Thursday, July 28th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $57.91.
Silicon Laboratories (NASDAQ:SLAB) traded up 1.26% during trading on Wednesday, reaching $59.33. 244,270 shares of the company’s stock traded hands. Silicon Laboratories has a 1-year low of $36.56 and a 1-year high of $60.00. The firm has a 50 day moving average of $56.34 and a 200 day moving average of $50.36. The firm has a market capitalization of $2.47 billion, a PE ratio of 67.42 and a beta of 1.42.
Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.11. The business earned $174.90 million during the quarter, compared to the consensus estimate of $170.52 million. Silicon Laboratories had a net margin of 5.66% and a return on equity of 8.71%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.56 EPS. Equities analysts forecast that Silicon Laboratories will post $2.53 EPS for the current year.
In related news, Director Navdeep S. Sooch sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, September 30th. The shares were sold at an average price of $59.05, for a total value of $2,952,500.00. Following the sale, the director now directly owns 524,756 shares of the company’s stock, valued at $30,986,841.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO George Tyson Tuttle sold 5,761 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $54.67, for a total transaction of $314,953.87. Following the completion of the sale, the chief executive officer now directly owns 253,486 shares in the company, valued at $13,858,079.62. The disclosure for this sale can be found here. 2.75% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. boosted its stake in Silicon Laboratories by 104.0% in the second quarter. Macquarie Group Ltd. now owns 355,208 shares of the company’s stock valued at $17,313,000 after buying an additional 181,065 shares in the last quarter. Carlson Capital L P boosted its position in shares of Silicon Laboratories by 18.5% in the second quarter. Carlson Capital L P now owns 1,037,632 shares of the company’s stock worth $50,574,000 after buying an additional 161,754 shares during the period. Vanguard Group Inc. boosted its position in shares of Silicon Laboratories by 5.6% in the second quarter. Vanguard Group Inc. now owns 2,940,876 shares of the company’s stock worth $143,338,000 after buying an additional 155,576 shares during the period. Hermes Investment Management Ltd. boosted its position in shares of Silicon Laboratories by 18.2% in the second quarter. Hermes Investment Management Ltd. now owns 909,087 shares of the company’s stock worth $44,309,000 after buying an additional 140,260 shares during the period. Finally, Mackenzie Financial Corp boosted its position in shares of Silicon Laboratories by 16.5% in the second quarter. Mackenzie Financial Corp now owns 947,037 shares of the company’s stock worth $46,159,000 after buying an additional 133,819 shares during the period. 87.46% of the stock is currently owned by institutional investors and hedge funds.
Silicon Laboratories Company Profile
Silicon Laboratories Inc is a provider of silicon, software and solutions for the Internet of things (IoT), Internet infrastructure, industrial control, consumer and automotive markets. The Company provides customers with advantages in performance, energy savings, connectivity and design simplicity. It provides developers with the tools and technologies they need to advance from initial idea to final product.
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