Silicon Laboratories (NASDAQ:SLAB) Upgraded at BidaskClub

Silicon Laboratories (NASDAQ:SLAB) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, October 16th, BidAskClub reports.

A number of other research analysts also recently issued reports on SLAB. Wells Fargo & Co began coverage on Silicon Laboratories in a research note on Tuesday, June 25th. They set an “outperform” rating and a $125.00 price target on the stock. TheStreet downgraded Silicon Laboratories from a “b” rating to a “c+” rating in a research note on Wednesday, July 24th. Zacks Investment Research downgraded Silicon Laboratories from a “hold” rating to a “sell” rating in a research note on Friday, October 4th. ValuEngine downgraded Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Roth Capital raised their price target on Silicon Laboratories from $120.00 to $130.00 in a research note on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Silicon Laboratories has a consensus rating of “Hold” and a consensus target price of $113.38.

Shares of NASDAQ:SLAB traded up $0.44 on Wednesday, hitting $109.00. 169,800 shares of the company’s stock were exchanged, compared to its average volume of 303,703. Silicon Laboratories has a 12 month low of $73.13 and a 12 month high of $115.29. The stock has a market capitalization of $4.85 billion, a price-to-earnings ratio of 38.11, a price-to-earnings-growth ratio of 3.16 and a beta of 1.49. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.78 and a quick ratio of 6.24. The business’s 50 day simple moving average is $109.83 and its two-hundred day simple moving average is $105.11.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.12. Silicon Laboratories had a return on equity of 9.33% and a net margin of 2.96%. The business had revenue of $223.30 million for the quarter, compared to the consensus estimate of $217.97 million. During the same quarter in the prior year, the business posted $1.01 EPS. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. Equities analysts forecast that Silicon Laboratories will post 2.21 EPS for the current fiscal year.

In other news, CFO John C. Hollister sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $110.00, for a total value of $1,100,000.00. Following the completion of the sale, the chief financial officer now directly owns 69,423 shares of the company’s stock, valued at approximately $7,636,530. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William G. Bock sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $103.35, for a total value of $103,350.00. Following the completion of the sale, the director now directly owns 38,791 shares of the company’s stock, valued at $4,009,049.85. The disclosure for this sale can be found here. Insiders sold a total of 48,813 shares of company stock worth $5,472,005 over the last quarter. Company insiders own 2.10% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Quest Capital Management Inc. ADV acquired a new position in Silicon Laboratories during the third quarter worth $39,000. NumerixS Investment Technologies Inc acquired a new position in Silicon Laboratories during the second quarter worth $93,000. Tower Research Capital LLC TRC raised its holdings in Silicon Laboratories by 832.7% during the second quarter. Tower Research Capital LLC TRC now owns 998 shares of the semiconductor company’s stock worth $104,000 after purchasing an additional 891 shares during the last quarter. Sun Life Financial INC acquired a new position in Silicon Laboratories during the second quarter worth $117,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its holdings in Silicon Laboratories by 23.5% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,499 shares of the semiconductor company’s stock worth $155,000 after purchasing an additional 285 shares during the last quarter. 92.86% of the stock is owned by hedge funds and other institutional investors.

Silicon Laboratories Company Profile

Silicon Laboratories Inc, a fabless semiconductor company, designs, develops, and markets mixed-signal integrated circuits (ICs) in the United States, China, and internationally. The company offers Internet of things products, including 8-bit mixed-signal, 32-bit wireless, and ultra-low-power 32-bit microcontrollers; wireless connectivity devices, such as multiprotocol wireless Gecko system-on-chip devices; real-time operating systems; sensor products comprising optical, relative humidity/temperature, and hall effect magnetic sensors.

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Analyst Recommendations for Silicon Laboratories (NASDAQ:SLAB)

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