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Canaccord Genuity assumed coverage on shares of Silicon Laboratories (NASDAQ:SLAB) in a research note issued on Friday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $50.00 price target on the stock. Canaccord Genuity’s target price would indicate a potential upside of 19.76% from the stock’s previous close.

A number of other analysts have also recently weighed in on SLAB. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Silicon Laboratories in a research note on Monday, July 28th. They now have a $49.00 price target on the stock, down previously from $55.00. Separately, analysts at B. Riley cut their price target on shares of Silicon Laboratories from $53.00 to $49.00 in a research note on Monday, July 28th. Finally, analysts at Pacific Crest reiterated an “outperform” rating on shares of Silicon Laboratories in a research note on Monday, July 28th. They now have a $50.00 price target on the stock, down previously from $55.00. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $50.25.

Shares of Silicon Laboratories (NASDAQ:SLAB) traded up 1.72% on Friday, hitting $42.47. 43,432 shares of the company’s stock traded hands. Silicon Laboratories has a 52 week low of $37.57 and a 52 week high of $54.00. The stock’s 50-day moving average is $46.38 and its 200-day moving average is $47.87. The company has a market cap of $1.844 billion and a price-to-earnings ratio of 46.75.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings results on Friday, July 25th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.50 earnings per share. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. Analysts expect that Silicon Laboratories will post $1.93 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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