Silicon Laboratories, Inc. (SLAB) Given Buy Rating at Stifel Nicolaus
Silicon Laboratories, Inc. (NASDAQ:SLAB)‘s stock had its “buy” rating restated by equities research analysts at Stifel Nicolaus in a research note issued to investors on Thursday. They presently have a $85.00 target price on the semiconductor company’s stock, up from their previous target price of $82.00. Stifel Nicolaus’ price target would indicate a potential upside of 11.48% from the company’s current price.
Other analysts have also recently issued reports about the stock. BidaskClub cut shares of Silicon Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 16th. B. Riley reiterated a “buy” rating and issued a $81.00 target price on shares of Silicon Laboratories in a research note on Tuesday, May 2nd. Drexel Hamilton reiterated a “buy” rating and issued a $85.00 target price (up from $80.00) on shares of Silicon Laboratories in a research note on Saturday, April 29th. Canaccord Genuity reissued a “buy” rating and issued a $83.00 price target on shares of Silicon Laboratories in a report on Thursday, April 27th. Finally, DA Davidson increased their price target on shares of Silicon Laboratories from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, April 26th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Silicon Laboratories presently has an average rating of “Buy” and a consensus price target of $77.91.
Silicon Laboratories (NASDAQ:SLAB) traded down 1.23% on Thursday, hitting $76.25. The stock had a trading volume of 598,037 shares. The company’s 50 day moving average is $70.61 and its 200-day moving average is $71.12. Silicon Laboratories has a 1-year low of $52.00 and a 1-year high of $79.15. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of 45.71 and a beta of 1.23.
Silicon Laboratories (NASDAQ:SLAB) last posted its earnings results on Wednesday, July 26th. The semiconductor company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.08. Silicon Laboratories had a net margin of 9.95% and a return on equity of 11.36%. The business had revenue of $190.10 million for the quarter, compared to analysts’ expectations of $186.46 million. During the same period in the prior year, the company posted $0.75 EPS. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, analysts forecast that Silicon Laboratories will post $3.06 EPS for the current year.
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In related news, Director William P. Wood sold 5,000 shares of the 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 transaction, the director now owns 35,526 shares of the company’s stock, valued at approximately $2,513,464.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William G. Bock sold 2,500 shares of the stock in a transaction on Monday, June 5th. The shares were sold at an average price of $75.45, for a total transaction of $188,625.00. Following the transaction, the director now directly owns 48,426 shares in the company, valued at approximately $3,653,741.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 125,326 shares of company stock worth $9,207,087. 34.82% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Rothschild Asset Management Inc. raised its position in Silicon Laboratories by 3.5% in the second quarter. Rothschild Asset Management Inc. now owns 371,630 shares of the semiconductor company’s stock valued at $25,401,000 after buying an additional 12,545 shares in the last quarter. Great West Life Assurance Co. Can raised its position in Silicon Laboratories by 3.7% in the second quarter. Great West Life Assurance Co. Can now owns 26,009 shares of the semiconductor company’s stock valued at $1,776,000 after buying an additional 934 shares in the last quarter. ING Groep NV acquired a new position in Silicon Laboratories during the second quarter valued at approximately $352,000. Russell Investments Group Ltd. raised its position in Silicon Laboratories by 4.6% in the second quarter. Russell Investments Group Ltd. now owns 49,010 shares of the semiconductor company’s stock valued at $3,350,000 after buying an additional 2,136 shares in the last quarter. Finally, Legato Capital Management LLC acquired a new position in Silicon Laboratories during the second quarter valued at approximately $301,000. 89.67% of the stock is currently owned by institutional investors.
Silicon Laboratories Company Profile
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.
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