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Silicon Laboratories (NASDAQ:SLAB) was upgraded by investment analysts at TheStreet from a “hold” rating to a “buy” rating in a note issued to investors on Friday, ARN reports.

The analysts wrote, “Silicon Laboratories (SLAB) has been upgraded by TheStreet Ratings from hold to buy. The company’s strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, good cash flow from operations, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income.”

Shares of Silicon Laboratories (NASDAQ:SLAB) traded down 1.21% on Friday, hitting $47.44. 62,771 shares of the company’s stock traded hands. Silicon Laboratories has a 52-week low of $37.57 and a 52-week high of $48.07. The stock has a 50-day moving average of $43.08 and a 200-day moving average of $41.36. The company has a market cap of $2.046 billion and a P/E ratio of 36.13.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.61 earnings per share. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, analysts predict that Silicon Laboratories will post $1.97 earnings per share for the current fiscal year.

In other Silicon Laboratories news, President William Bock sold 20,000 shares of the stock on the open market in a transaction dated Thursday, January 30th. The stock was sold at an average price of $47.21, for a total transaction of $944,200.00. Following the completion of the sale, the president now directly owns 80,069 shares in the company, valued at approximately $3,780,057. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

SLAB has been the subject of a number of other recent research reports. Analysts at Citigroup Inc. raised their price target on shares of Silicon Laboratories from $47.00 to $56.00 in a research note to investors on Friday. Separately, analysts at Needham & Company raised their price target on shares of Silicon Laboratories from $47.00 to $53.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Finally, analysts at Pacific Crest raised their price target on shares of Silicon Laboratories from $50.00 to $55.00 in a research note to investors on Thursday. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $49.52.

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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