Silicon Laboratories (SLAB) Upgraded by BidaskClub to “Buy”

Silicon Laboratories (NASDAQ:SLAB) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Other analysts have also issued research reports about the company. Canaccord Genuity restated a “buy” rating and issued a $95.00 price objective (up previously from $85.00) on shares of Silicon Laboratories in a research note on Tuesday, October 10th. B. Riley upped their price objective on Silicon Laboratories from $90.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Zacks Investment Research lowered Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, September 19th. Barclays upped their price objective on Silicon Laboratories from $72.00 to $86.00 and gave the company an “overweight” rating in a research note on Wednesday, October 18th. Finally, Roth Capital upped their price objective on Silicon Laboratories from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Monday, December 11th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $99.44.

Silicon Laboratories (NASDAQ:SLAB) traded up $0.50 on Friday, reaching $94.75. The company had a trading volume of 209,676 shares, compared to its average volume of 185,086. Silicon Laboratories has a fifty-two week low of $63.15 and a fifty-two week high of $96.93. The company has a market capitalization of $4,011.76, a price-to-earnings ratio of 56.74, a PEG ratio of 2.43 and a beta of 1.37. The company has a quick ratio of 5.20, a current ratio of 5.66 and a debt-to-equity ratio of 0.40.

Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Wednesday, October 25th. The semiconductor company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.09. Silicon Laboratories had a return on equity of 11.06% and a net margin of 9.60%. The business had revenue of $198.70 million for the quarter, compared to analyst estimates of $196.20 million. During the same quarter in the prior year, the company posted $0.77 earnings per share. Silicon Laboratories’s revenue was up 11.6% on a year-over-year basis. equities research analysts anticipate that Silicon Laboratories will post 2.27 earnings per share for the current year.

In other news, Director William P. Wood sold 5,000 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $92.50, for a total transaction of $462,500.00. Following the transaction, the director now owns 30,526 shares in the company, valued at $2,823,655. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO John C. Hollister sold 2,000 shares of the stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $88.45, for a total value of $176,900.00. Following the transaction, the chief financial officer now owns 64,767 shares in the company, valued at approximately $5,728,641.15. The disclosure for this sale can be found here. Insiders sold 14,700 shares of company stock worth $1,337,650 in the last 90 days. Corporate insiders own 34.82% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP bought a new position in shares of Silicon Laboratories during the second quarter worth approximately $102,000. Advisors Asset Management Inc. increased its stake in shares of Silicon Laboratories by 75.1% during the third quarter. Advisors Asset Management Inc. now owns 1,292 shares of the semiconductor company’s stock worth $103,000 after purchasing an additional 554 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Silicon Laboratories by 10.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,623 shares of the semiconductor company’s stock worth $111,000 after purchasing an additional 148 shares during the period. Riverhead Capital Management LLC increased its stake in shares of Silicon Laboratories by 76.7% during the second quarter. Riverhead Capital Management LLC now owns 2,297 shares of the semiconductor company’s stock worth $157,000 after purchasing an additional 997 shares during the period. Finally, BT Investment Management Ltd bought a new position in shares of Silicon Laboratories during the second quarter worth approximately $202,000. Institutional investors own 90.80% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This piece of content was originally posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another website, it was copied illegally and reposted in violation of US and international trademark and copyright legislation. The original version of this piece of content can be read at https://www.americanbankingnews.com/2018/01/06/silicon-laboratories-slab-upgraded-by-bidaskclub-to-buy.html.

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.

Analyst Recommendations for Silicon Laboratories (NASDAQ:SLAB)

Receive News & Ratings for Silicon Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silicon Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply