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Silicon Laboratories (NASDAQ:SLAB)’s share price reached a new 52-week high on Wednesday, AnalystRatingsNetwork reports. The company traded as high as $47.45 and last traded at $46.24, with a volume of 1,047,959 shares traded. The stock had previously closed at $43.04.

A number of analysts have recently weighed in on SLAB shares. Analysts at Zacks upgraded shares of Silicon Laboratories from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, December 24th. They now have a $43.10 price target on the stock. Separately, analysts at Stephens initiated coverage on shares of Silicon Laboratories in a research note to investors on Friday, December 20th. They set an “equal weight” rating on the stock. Finally, analysts at Needham & Company raised their price target on shares of Silicon Laboratories from $43.00 to $47.00 in a research note to investors on Wednesday, December 18th. They now have a “buy” rating on the stock. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $46.42.

In other Silicon Laboratories news, Director Navdeep Sooch sold 18,041 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $45.01, for a total value of $812,025.41. Following the completion of the sale, the director now directly owns 770,840 shares of the company’s stock, valued at approximately $34,695,508. The sale was disclosed in a document filed with the SEC, which is available at this link.

Silicon Laboratories has a 52-week low of $37.57 and a 52-week high of $47.41. The stock’s 50-day moving average is $42.72 and its 200-day moving average is $41.28. The company has a market cap of $1.990 billion and a price-to-earnings ratio of 32.39.

Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results on Wednesday, January 29th. The company reported $0.49 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.43 by $0.06. The company had revenue of $146.20 million for the quarter, compared to the consensus estimate of $142.98 million. During the same quarter last year, the company posted $0.61 earnings per share. Silicon Laboratories’s revenue was down 4.1% compared to the same quarter last year. Analysts expect that Silicon Laboratories will post $1.97 EPS for the current fiscal year.

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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