Silicon Laboratories, Inc. (NASDAQ:SLAB) has earned a consensus rating of “Buy” from the ten analysts that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $101.13.
A number of analysts have recently weighed in on SLAB shares. Needham & Company LLC raised their target price on Silicon Laboratories from $85.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Drexel Hamilton reiterated a “buy” rating and issued a $103.00 price target (up previously from $85.00) on shares of Silicon Laboratories in a report on Wednesday, October 25th. Roth Capital raised their price target on Silicon Laboratories from $85.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, October 24th. Zacks Investment Research upgraded Silicon Laboratories from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a report on Saturday, August 26th. Finally, Stifel Nicolaus raised their price target on Silicon Laboratories from $85.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, October 12th.
Silicon Laboratories (NASDAQ:SLAB) traded down $0.50 during trading on Friday, reaching $89.80. The company’s stock had a trading volume of 240,302 shares, compared to its average volume of 278,981. 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 has a 1 year low of $63.15 and a 1 year high of $96.93. The firm has a market capitalization of $3,952.17, a price-to-earnings ratio of 40.72, a P/E/G ratio of 2.72 and a beta of 1.37.
Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results on Wednesday, October 25th. The semiconductor company reported $0.90 earnings per share for the quarter, beating the Zacks’ 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 company had revenue of $198.70 million during the quarter, compared to analyst estimates of $196.20 million. During the same period last year, the company posted $0.77 earnings per share. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. sell-side analysts forecast that Silicon Laboratories will post 2.27 EPS for the current fiscal year.
In related news, CFO John C. Hollister sold 2,000 shares of Silicon Laboratories 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 sale, the chief financial officer now owns 64,767 shares of the company’s stock, valued at approximately $5,728,641.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William P. Wood sold 5,000 shares of Silicon Laboratories stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $81.45, for a total value of $407,250.00. The disclosure for this sale can be found here. Insiders have sold a total of 33,294 shares of company stock worth $2,833,372 in the last quarter. 34.82% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its position in shares of Silicon Laboratories by 62.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 841,592 shares of the semiconductor company’s stock worth $57,523,000 after purchasing an additional 323,123 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Silicon Laboratories by 4.7% during the 2nd quarter. Vanguard Group Inc. now owns 3,446,677 shares of the semiconductor company’s stock worth $235,581,000 after purchasing an additional 154,654 shares during the last quarter. TCW Group Inc. increased its position in shares of Silicon Laboratories by 164.9% during the 3rd quarter. TCW Group Inc. now owns 229,473 shares of the semiconductor company’s stock worth $18,335,000 after purchasing an additional 142,832 shares during the last quarter. Cortina Asset Management LLC increased its position in shares of Silicon Laboratories by 49.9% during the 3rd quarter. Cortina Asset Management LLC now owns 312,353 shares of the semiconductor company’s stock worth $24,957,000 after purchasing an additional 103,956 shares during the last quarter. Finally, Pier Capital LLC acquired a new position in shares of Silicon Laboratories during the 2nd quarter worth approximately $5,274,000. 90.80% of the stock is currently owned by institutional investors and hedge funds.
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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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