Silicon Laboratories, Inc. (NASDAQ:SLAB) released its quarterly earnings data on Wednesday. The semiconductor company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.08, Bloomberg Earnings reports. The business had revenue of $190.10 million during the quarter, compared to analyst estimates of $186.46 million. Silicon Laboratories had a return on equity of 11.36% and a net margin of 9.95%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company posted $0.75 EPS. Silicon Laboratories updated its Q3 guidance to $0.78-0.84 EPS.

Shares of Silicon Laboratories (NASDAQ SLAB) traded up 2.66% during mid-day trading on Wednesday, hitting $71.40. The company had a trading volume of 163,758 shares. The company has a market capitalization of $3.02 billion, a P/E ratio of 42.81 and a beta of 1.23. The firm’s 50-day moving average price is $70.65 and its 200 day moving average price is $71.01. Silicon Laboratories has a one year low of $51.31 and a one year high of $78.45.

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In other news, Director William P. Wood sold 5,000 shares of the firm’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $70.75, for a total transaction of $353,750.00. Following the completion of the transaction, the director now owns 35,526 shares of the company’s stock, valued at $2,513,464.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Brandon Tolany sold 26,826 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $71.31, for a total transaction of $1,912,962.06. The disclosure for this sale can be found here. Insiders have sold a total of 125,326 shares of company stock worth $9,207,087 in the last quarter. 34.82% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of SLAB. ING Groep NV acquired a new position in shares of Silicon Laboratories during the second quarter worth about $352,000. Russell Investments Group Ltd. boosted its position in shares of Silicon Laboratories by 4.6% in the second quarter. Russell Investments Group Ltd. now owns 49,010 shares of the semiconductor company’s stock worth $3,350,000 after buying an additional 2,136 shares in the last quarter. Legato Capital Management LLC acquired a new position in shares of Silicon Laboratories during the second quarter worth about $301,000. Van Berkom & Associates Inc. boosted its position in shares of Silicon Laboratories by 0.4% in the second quarter. Van Berkom & Associates Inc. now owns 795,541 shares of the semiconductor company’s stock worth $54,375,000 after buying an additional 3,090 shares in the last quarter. Finally, State Treasurer State of Michigan boosted its position in shares of Silicon Laboratories by 2.9% in the second quarter. State Treasurer State of Michigan now owns 17,500 shares of the semiconductor company’s stock worth $1,196,000 after buying an additional 500 shares in the last quarter. 89.67% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently weighed in on SLAB shares. BidaskClub lowered Silicon Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 16th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $82.00 target price on shares of Silicon Laboratories in a research report on Tuesday, June 6th. B. Riley reaffirmed a “buy” rating and issued a $81.00 target price on shares of Silicon Laboratories in a research report on Tuesday, May 2nd. Drexel Hamilton reaffirmed a “buy” rating and issued a $85.00 target price (up previously from $80.00) on shares of Silicon Laboratories in a research report on Saturday, April 29th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $83.00 target price on shares of Silicon Laboratories in a research report on Thursday, April 27th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $77.18.

About Silicon Laboratories

Silicon Laboratories Inc is a provider of silicon, software and solutions for the Internet of Things (IoT), Internet infrastructure, industrial, consumer and automotive markets. The Company operates through mixed-signal analog intensive products segment. It provides analog-intensive, mixed-signal solutions for use in a range of electronic products in various applications for the IoT market.

Earnings History for Silicon Laboratories (NASDAQ:SLAB)

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