Silicon Laboratories PT Lowered to $44.00 (SLAB)
Investment analysts at Needham & Company reduced their target price on shares of Silicon Laboratories (NASDAQ:SLAB) from $47.00 to $44.00 in a note issued to investors on Friday, American Banking News.com reports. The firm currently has a “buy” rating on the stock. Needham & Company’s price target points to a potential upside of 11.85% from the stock’s previous close.
SLAB has been the subject of a number of other recent research reports. Analysts at Zacks upgraded shares of Silicon Laboratories from an “underperform” rating to a “neutral” rating in a research note to investors on Thursday, September 26th. They now have a $42.70 price target on the stock. Separately, analysts at TheStreet downgraded shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research note to investors on Friday, August 23rd. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $47.62.
In other Silicon Laboratories news, Director Navdeep S. Sooch sold 11,959 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $44.03, for a total value of $526,554.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Silicon Laboratories (NASDAQ:SLAB) traded up 0.33% on Friday, hitting $39.34. The stock had a trading volume of 619,964 shares. Silicon Laboratories has a 52-week low of $35.00 and a 52-week high of $47.41. The stock’s 50-day moving average is $39.72 and its 200-day moving average is $41.27. The company has a market cap of $1.680 billion and a price-to-earnings ratio of 27.44.
Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results on Thursday, October 24th. The company reported $0.45 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.43 by $0.02. The company had revenue of $146.90 million for the quarter, compared to the consensus estimate of $146.56 million. During the same quarter in the previous year, the company posted $0.61 earnings per share. The company’s revenue for the quarter was down 1.7% on a year-over-year basis.
Silicon Laboratories Inc designs and develops analog-intensive, mixed-signal and integrated circuits (NASDAQ:SLAB) for a broad range of applications.
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