Silicon Laboratories (NASDAQ:SLAB) Cut to “Hold” at BidaskClub

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BidaskClub lowered shares of Silicon Laboratories (NASDAQ:SLAB) from a buy rating to a hold rating in a report released on Saturday morning, BidAskClub reports.

Other equities analysts have also recently issued research reports about the company. Cowen reissued an outperform rating and issued a $130.00 price objective (up previously from $98.00) on shares of Silicon Laboratories in a report on Thursday, April 25th. Needham & Company LLC reaffirmed a hold rating on shares of Silicon Laboratories in a report on Thursday, April 25th. Roth Capital upped their price target on Silicon Laboratories from $120.00 to $130.00 in a report on Thursday, July 25th. Benchmark initiated coverage on Silicon Laboratories in a report on Tuesday, July 23rd. They issued a buy rating and a $120.00 price target for the company. Finally, ValuEngine raised Silicon Laboratories from a hold rating to a buy rating in a report on Friday, April 19th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Silicon Laboratories currently has a consensus rating of Hold and an average target price of $109.70.

Shares of SLAB stock opened at $101.18 on Friday. The firm has a market cap of $4.39 billion, a PE ratio of 35.38, a PEG ratio of 3.22 and a beta of 1.57. The company has a 50-day moving average of $104.63. The company has a current ratio of 6.47, a quick ratio of 5.91 and a debt-to-equity ratio of 0.34. Silicon Laboratories has a 52-week low of $73.13 and a 52-week high of $115.29.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.03. The business had revenue of $206.71 million during the quarter, compared to analysts’ expectations of $206.57 million. Silicon Laboratories had a return on equity of 9.97% and a net margin of 3.84%. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.92 EPS. As a group, research analysts expect that Silicon Laboratories will post 2.07 EPS for the current year.

In other Silicon Laboratories news, Director William G. Bock sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $105.61, for a total transaction of $105,610.00. Following the completion of the sale, the director now directly owns 39,791 shares in the company, valued at approximately $4,202,327.51. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.10% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of SLAB. Quadrant Capital Group LLC grew its position in shares of Silicon Laboratories by 866.0% in the first quarter. Quadrant Capital Group LLC now owns 995 shares of the semiconductor company’s stock valued at $79,000 after purchasing an additional 892 shares in the last quarter. Advisor Group Inc. grew its position in shares of Silicon Laboratories by 13.9% in the fourth quarter. Advisor Group Inc. now owns 1,345 shares of the semiconductor company’s stock valued at $106,000 after purchasing an additional 164 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in shares of Silicon Laboratories in the second quarter valued at approximately $165,000. FNY Investment Advisers LLC purchased a new stake in shares of Silicon Laboratories in the first quarter valued at approximately $161,000. Finally, World Asset Management Inc purchased a new stake in shares of Silicon Laboratories in the second quarter valued at approximately $210,000. Institutional investors own 92.18% of the company’s stock.

About Silicon Laboratories

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, including 8-bit mixed-signal, 32-bit wireless, and ultra-low-power 32-bit microcontrollers; wireless connectivity devices, such as 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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