Silicon Laboratories, Inc. (NASDAQ:SLAB) had its price target upped by research analysts at Barclays PLC from $72.00 to $86.00 in a report released on Wednesday. The brokerage presently has an “overweight” rating on the semiconductor company’s stock. Barclays PLC’s price target indicates a potential downside of 2.49% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. Zacks Investment Research upgraded Silicon Laboratories from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a research note on Saturday, August 26th. BidaskClub lowered Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th. Needham & Company LLC reiterated a “buy” rating and issued a $85.00 target price (up previously from $80.00) on shares of Silicon Laboratories in a research note on Thursday, July 27th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $85.00 target price (up previously from $82.00) on shares of Silicon Laboratories in a research note on Thursday, July 27th. Ten analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus target price of $88.00.

Shares of Silicon Laboratories (NASDAQ SLAB) traded up 0.06% during trading on Wednesday, reaching $88.20. 242,958 shares of the company were exchanged. The firm has a market capitalization of $3.75 billion, a P/E ratio of 52.59 and a beta of 1.28. Silicon Laboratories has a 1-year low of $56.31 and a 1-year high of $88.85. The firm’s 50 day moving average is $79.46 and its 200 day moving average is $74.16.

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, beating the consensus estimate of $0.71 by $0.08. Silicon Laboratories had a return on equity of 11.15% and a net margin of 9.88%. The company had revenue of $190.10 million for the quarter, compared to analyst estimates of $186.46 million. During the same quarter in the previous year, the firm earned $0.75 earnings per share. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, equities analysts anticipate that Silicon Laboratories will post $3.06 EPS for the current fiscal year.

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In other Silicon Laboratories news, CFO John C. Hollister sold 2,000 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $73.30, for a total value of $146,600.00. Following the completion of the sale, the chief financial officer now owns 68,767 shares of the company’s stock, valued at $5,040,621.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO George Tyson Tuttle sold 3,713 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $80.00, for a total value of $297,040.00. Following the completion of the sale, the chief executive officer now directly owns 204,879 shares of the company’s stock, valued at approximately $16,390,320. The disclosure for this sale can be found here. In the last three months, insiders sold 46,500 shares of company stock valued at $3,664,179. Corporate insiders own 34.82% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its holdings in Silicon Laboratories by 25,072.0% in the first quarter. BlackRock Inc. now owns 4,558,402 shares of the semiconductor company’s stock worth $335,271,000 after acquiring an additional 4,540,293 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Silicon Laboratories by 4.7% in the second quarter. Vanguard Group Inc. now owns 3,446,677 shares of the semiconductor company’s stock worth $235,581,000 after acquiring an additional 154,654 shares in the last quarter. State Street Corp boosted its holdings in Silicon Laboratories by 5.1% in the second quarter. State Street Corp now owns 1,520,505 shares of the semiconductor company’s stock worth $103,925,000 after acquiring an additional 74,439 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Silicon Laboratories by 62.3% in the second quarter. Bank of New York Mellon Corp now owns 841,592 shares of the semiconductor company’s stock worth $57,523,000 after acquiring an additional 323,123 shares in the last quarter. Finally, Van Berkom & Associates Inc. boosted its holdings in 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 acquiring an additional 3,090 shares in the last quarter. 88.99% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Silicon Laboratories (NASDAQ:SLAB)

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