Silicon Laboratories Price Target Cut to $55.00 (SLAB)
MKM Partners decreased their price objective on shares of Silicon Laboratories (NASDAQ:SLAB) from $60.00 to $55.00 in a research note issued on Friday. The firm currently has a “buy” rating on the stock. MKM Partners’ price target would suggest a potential upside of 36.58% from the stock’s previous close.
A number of other firms have also recently commented on SLAB. Analysts at Needham & Company LLC reiterated a “buy” rating on shares of Silicon Laboratories in a research note on Friday. Separately, analysts at Topeka Capital Markets cut their price target on shares of Silicon Laboratories from $47.00 to $42.00 in a research note on Friday. They now have a “hold” rating on the stock. Finally, analysts at Zacks upgraded shares of Silicon Laboratories from an “underperform” rating to a “neutral” rating in a research note on Tuesday, July 1st. They now have a $50.20 price target on the stock. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $52.31.
Silicon Laboratories (NASDAQ:SLAB) traded down 14.44% during mid-day trading on Friday, hitting $40.04. 2,114,235 shares of the company’s stock traded hands. Silicon Laboratories has a one year low of $37.57 and a one year high of $54.00. The stock’s 50-day moving average is $47.92 and its 200-day moving average is $48.00. The company has a market cap of $1.740 billion and a price-to-earnings ratio of 54.29.
Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings results on Friday, July 25th. The company reported $0.58 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.46 by $0.12. The company had revenue of $154.90 million for the quarter, compared to the consensus estimate of $149.02 million. During the same quarter last year, the company posted $0.50 earnings per share. Silicon Laboratories’s revenue was up 9.5% 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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