Silicon Laboratories Inc. (SLAB) Now Covered by Analysts at Roth Capital
Roth Capital began coverage on shares of Silicon Laboratories Inc. (NASDAQ:SLAB) in a research report report published on Wednesday morning. The firm issued a buy rating and a $65.00 target price on the stock.
SLAB has been the subject of several other reports. B. Riley reissued a buy rating and set a $64.00 price target on shares of Silicon Laboratories in a research report on Monday, August 1st. Zacks Investment Research raised Silicon Laboratories from a hold rating to a strong-buy rating and set a $62.00 price target for the company in a research report on Tuesday, August 2nd. TheStreet raised Silicon Laboratories from a hold rating to a buy rating in a research report on Wednesday, July 27th. Needham & Company LLC reissued a hold rating on shares of Silicon Laboratories in a research report on Wednesday, July 27th. Finally, Citigroup Inc. increased their price target on Silicon Laboratories from $56.00 to $63.00 and gave the company a buy rating in a research report on Thursday, July 28th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Silicon Laboratories currently has an average rating of Buy and an average target price of $57.91.
Shares of Silicon Laboratories (NASDAQ:SLAB) opened at 56.84 on Wednesday. Silicon Laboratories has a 12-month low of $36.56 and a 12-month high of $58.21. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 64.59 and a beta of 1.33. The company has a 50-day moving average price of $55.80 and a 200 day moving average price of $49.91.
Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.11. The business earned $174.90 million during the quarter, compared to the consensus estimate of $170.52 million. Silicon Laboratories had a return on equity of 8.71% and a net margin of 5.66%. Silicon Laboratories’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the company earned $0.56 earnings per share. Equities research analysts expect that Silicon Laboratories will post $2.53 earnings per share for the current fiscal year.
In related news, CEO George Tyson Tuttle sold 5,761 shares of the business’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $54.67, for a total transaction of $314,953.87. Following the sale, the chief executive officer now owns 253,486 shares in the company, valued at approximately $13,858,079.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Navdeep S. Sooch sold 4,200 shares of the business’s stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $55.00, for a total value of $231,000.00. Following the sale, the director now owns 670,556 shares in the company, valued at approximately $36,880,580. The disclosure for this sale can be found here. 2.75% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of the company. Macquarie Group Ltd. raised its stake in shares of Silicon Laboratories by 104.0% in the second quarter. Macquarie Group Ltd. now owns 355,208 shares of the company’s stock worth $17,313,000 after buying an additional 181,065 shares in the last quarter. Northwestern Mutual Investment Management Company LLC raised its stake in shares of Silicon Laboratories by 0.5% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 6,703 shares of the company’s stock worth $327,000 after buying an additional 36 shares in the last quarter. Mason Street Advisors LLC purchased a new stake in shares of Silicon Laboratories during the second quarter worth $863,000. Public Employees Retirement System of Ohio raised its stake in shares of Silicon Laboratories by 8.5% in the second quarter. Public Employees Retirement System of Ohio now owns 2,250 shares of the company’s stock worth $110,000 after buying an additional 177 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Silicon Laboratories by 3.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 187,166 shares of the company’s stock worth $9,123,000 after buying an additional 6,894 shares in the last quarter. Institutional investors and hedge funds own 87.46% of the company’s stock.
Silicon Laboratories Company Profile
Silicon Laboratories Inc is a provider of silicon, software and solutions for the Internet of things (IoT), Internet infrastructure, industrial control, consumer and automotive markets. The Company provides customers with advantages in performance, energy savings, connectivity and design simplicity. It provides developers with the tools and technologies they need to advance from initial idea to final product.
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