Zacks Investment Research upgraded shares of Silicon Labs (NASDAQ:SLAB) from a sell rating to a hold rating in a research report released on Thursday.
According to Zacks, “Silicon Labs is a leading provider of silicon, software and solutions for the Internet of Things, Internet infrastructure, industrial automation, consumer and automotive markets. They solve the electronics industry’s toughest problems, providing customers with significant advantages in performance, energy savings, connectivity and design simplicity. Backed by their world-class engineering teams with unsurpassed software and mixed-signal design expertise, Silicon Labs empowers developers with the tools and technologies they need to advance quickly and easily from initial idea to final product. “
Several other brokerages also recently weighed in on SLAB. Drexel Hamilton reaffirmed a buy rating and set a $111.00 price target (up previously from $103.00) on shares of Silicon Labs in a report on Wednesday, January 31st. Stifel Nicolaus reaffirmed a buy rating and set a $108.00 price target (up previously from $100.00) on shares of Silicon Labs in a report on Thursday, January 18th. BidaskClub downgraded shares of Silicon Labs from a buy rating to a hold rating in a report on Wednesday, December 27th. B. Riley reaffirmed a buy rating and set a $115.00 price target on shares of Silicon Labs in a report on Friday, December 8th. Finally, Roth Capital lifted their price target on shares of Silicon Labs from $100.00 to $105.00 and gave the company a buy rating in a report on Monday, December 11th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has an average rating of Buy and an average price target of $104.60.
Silicon Labs (NASDAQ:SLAB) last posted its quarterly earnings data on Wednesday, January 31st. The semiconductor company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.07. Silicon Labs had a net margin of 6.12% and a return on equity of 11.11%. The company had revenue of $201.02 million for the quarter, compared to the consensus estimate of $197.93 million. During the same quarter last year, the firm posted $0.75 earnings per share. The firm’s revenue was up 10.1% compared to the same quarter last year. analysts predict that Silicon Labs will post 2.52 EPS for the current fiscal year.
In other news, SVP Sandeep P. Kumar sold 5,750 shares of Silicon Labs stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $100.00, for a total transaction of $575,000.00. Following the sale, the senior vice president now owns 41,633 shares in the company, valued at $4,163,300. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Brandon Tolany sold 18,235 shares of Silicon Labs stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $95.00, for a total transaction of $1,732,325.00. Following the sale, the senior vice president now owns 69,501 shares in the company, valued at approximately $6,602,595. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,676 shares of company stock worth $3,378,918. Company insiders own 1.96% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB bought a new stake in shares of Silicon Labs during the fourth quarter valued at approximately $356,000. Envestnet Asset Management Inc. raised its position in shares of Silicon Labs by 7.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 9,183 shares of the semiconductor company’s stock valued at $811,000 after buying an additional 666 shares during the last quarter. MetLife Investment Advisors LLC bought a new stake in shares of Silicon Labs during the fourth quarter valued at approximately $4,025,000. Gotham Asset Management LLC bought a new stake in shares of Silicon Labs during the fourth quarter valued at approximately $522,000. Finally, Jane Street Group LLC raised its position in shares of Silicon Labs by 29.7% during the fourth quarter. Jane Street Group LLC now owns 34,633 shares of the semiconductor company’s stock valued at $3,058,000 after buying an additional 7,928 shares during the last quarter. Hedge funds and other institutional investors own 89.57% of the company’s stock.
Silicon Labs Company Profile
Silicon Laboratories Inc, a fabless semiconductor company, designs, develops, and markets mixed-signal integrated circuits (ICs) in the United States, China, and internationally. The company offers Internet of things products, such as 8-bit mixed-signal, 32-bit wireless, and ultra-low-power 32-bit microcontrollers; wireless connectivity devices, including multiprotocol wireless Gecko system-on-chip devices; real-time operating systems; sensor products comprising optical, relative humidity/temperature, and hall effect magnetic sensors.
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