Silicon Laboratories Receives Average Recommendation of “Buy” from Analysts (NASDAQ:SLAB)
Shares of Silicon Laboratories (NASDAQ:SLAB) have earned an average rating of “Buy” from the eleven brokerages that are presently covering the company, ARN reports. Three research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $50.25.
A number of research firms have recently commented on SLAB. Analysts at Canaccord Genuity initiated coverage on shares of Silicon Laboratories in a research note on Friday, August 8th. They set a “buy” rating and a $50.00 price target on the stock. Separately, 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. Finally, 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.
Silicon Laboratories (NASDAQ:SLAB) traded down 1.11% on Wednesday, hitting $44.12. The stock had a trading volume of 74,412 shares. Silicon Laboratories has a 52 week low of $37.57 and a 52 week high of $54.00. The stock has a 50-day moving average of $43.71 and a 200-day moving average of $47.5. The company has a market cap of $1.916 billion and a price-to-earnings ratio of 49.96.
Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings results on Friday, July 25th. The company reported $0.58 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.50 earnings per share. The company’s quarterly revenue was up 9.5% on a year-over-year basis. Analysts expect that Silicon Laboratories will post $1.92 EPS for the current fiscal year.
In other Silicon Laboratories news, President William G. Bock sold 13,000 shares of Silicon Laboratories stock on the open market in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $44.50, for a total value of $578,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
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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