Zacks Investment Research Downgrades Silicon Laboratories, Inc. (SLAB) to Hold
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.
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.
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