Silicon Laboratories, Inc. (NASDAQ:SLAB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.

According to Zacks, “Silicon Laboratories Inc. design and develop proprietary, analog-intensive, mixed-signal integrated circuits for the rapidly growing communications industry. Mixed-signal integrated circuits are electronic components that convert real-world analog signals, such as sound and radio waves, into digital signals that electronic products can process. Mixed-signal integrated circuits are critical components of numerous communications products, including cellular telephones, cable and satellite set-top boxes, modems and fax machines. “

A number of other research analysts have also recently commented on the company. Canaccord Genuity restated a “buy” rating and set a $83.00 price target on shares of Silicon Laboratories in a research note on Thursday, April 27th. BidaskClub cut Silicon Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 16th. Stifel Nicolaus upped their price target on Silicon Laboratories from $80.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, May 1st. Drexel Hamilton restated a “buy” rating and set a $85.00 price target (up from $80.00) on shares of Silicon Laboratories in a research note on Saturday, April 29th. Finally, Needham & Company LLC restated a “buy” rating and set a $85.00 price target (up from $80.00) on shares of Silicon Laboratories in a research note on Thursday, July 27th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Silicon Laboratories has a consensus rating of “Buy” and an average target price of $80.10.

Silicon Laboratories (NASDAQ:SLAB) opened at 73.50 on Friday. The stock’s 50 day moving average price is $73.06 and its 200 day moving average price is $72.23. Silicon Laboratories has a 1-year low of $54.30 and a 1-year high of $79.15. The stock has a market capitalization of $3.13 billion, a PE ratio of 43.83 and a beta of 1.25.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $186.46 million. During the same period in the prior year, the firm earned $0.75 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year. On average, equities research analysts predict that Silicon Laboratories will post $3.06 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: This piece was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece on another site, it was illegally copied and republished in violation of US & international copyright law. The legal version of this piece can be read at https://www.thecerbatgem.com/2017/08/27/zacks-investment-research-downgrades-silicon-laboratories-inc-slab-to-hold.html.

In other news, CEO George Tyson Tuttle sold 75,000 shares of the company’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $74.89, for a total transaction of $5,616,750.00. Following the sale, the chief executive officer now owns 208,592 shares of the company’s stock, valued at $15,621,454.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William P. Wood sold 5,000 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $74.45, for a total value of $372,250.00. Following the sale, the director now directly owns 35,526 shares in the company, valued at approximately $2,644,910.70. The disclosure for this sale can be found here. Insiders have sold 101,000 shares of company stock worth $7,515,875 in the last ninety days. Corporate insiders own 34.82% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Capstone Asset Management Co. bought a new stake in Silicon Laboratories during the first quarter worth $222,000. Louisiana State Employees Retirement System raised its stake in Silicon Laboratories by 2.9% in the first quarter. Louisiana State Employees Retirement System now owns 10,600 shares of the semiconductor company’s stock worth $780,000 after buying an additional 300 shares in the last quarter. Candriam Luxembourg S.C.A. raised its stake in Silicon Laboratories by 114.5% in the first quarter. Candriam Luxembourg S.C.A. now owns 48,651 shares of the semiconductor company’s stock worth $3,578,000 after buying an additional 25,972 shares in the last quarter. Nationwide Fund Advisors raised its stake in Silicon Laboratories by 1.7% in the first quarter. Nationwide Fund Advisors now owns 118,976 shares of the semiconductor company’s stock worth $8,751,000 after buying an additional 1,973 shares in the last quarter. Finally, Profund Advisors LLC raised its stake in Silicon Laboratories by 10.0% in the first quarter. Profund Advisors LLC now owns 14,242 shares of the semiconductor company’s stock worth $1,047,000 after buying an additional 1,296 shares in the last quarter. 89.04% of the stock is currently owned by institutional investors and hedge funds.

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 & Stock Ratings for Silicon Laboratories Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silicon Laboratories Inc. and related stocks with our FREE daily email newsletter.