Zacks Investment Research Downgrades Silicon Laboratories (NASDAQ:SLAB) to Hold

Silicon Laboratories (NASDAQ:SLAB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, January 5th.

According to Zacks, “Silicon Labs is a leading provider of silicon, software and solutions for the Internet of Things, Internet infrastructure, industrial automation, consumer and automotive markets. They solve the electronics industry’s toughest problems, providing customers with significant advantages in performance, energy savings, connectivity and design simplicity. Backed by their world-class engineering teams with unsurpassed software and mixed-signal design expertise, Silicon Labs empowers developers with the tools and technologies they need to advance quickly and easily from initial idea to final product. “

Other equities research analysts have also recently issued research reports about the stock. Drexel Hamilton reissued a “buy” rating and issued a $103.00 price target (up previously from $85.00) on shares of Silicon Laboratories in a research note on Wednesday, October 25th. Roth Capital raised their price objective on Silicon Laboratories from $85.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, October 24th. BidaskClub lowered Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Needham & Company LLC restated a “buy” rating and issued a $110.00 price objective on shares of Silicon Laboratories in a report on Monday, December 11th. Finally, Canaccord Genuity raised their price objective on Silicon Laboratories from $95.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, October 26th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Silicon Laboratories has a consensus rating of “Buy” and an average target price of $101.44.

Shares of Silicon Laboratories (NASDAQ:SLAB) opened at $98.60 on Friday. The company has a market cap of $4,188.41, a P/E ratio of 57.81, a PEG ratio of 2.54 and a beta of 1.37. Silicon Laboratories has a one year low of $64.60 and a one year high of $100.00. The company has a debt-to-equity ratio of 0.40, a quick ratio of 5.20 and a current ratio of 5.66.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data on Wednesday, January 31st. The semiconductor company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.07. Silicon Laboratories had a net margin of 9.60% and a return on equity of 11.06%. The business had revenue of $201.02 million for the quarter, compared to analysts’ expectations of $197.93 million. During the same quarter last year, the company earned $0.75 EPS. The business’s revenue was up 10.1% on a year-over-year basis. research analysts forecast that Silicon Laboratories will post 2.27 earnings per share for the current fiscal year.

In other news, Director William G. Bock sold 2,500 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $89.24, for a total transaction of $223,100.00. Following the completion of the transaction, the director now directly owns 43,426 shares of the company’s stock, valued at $3,875,336.24. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Brandon Tolany sold 18,235 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $95.00, for a total value of $1,732,325.00. Following the sale, the senior vice president now owns 69,501 shares of the company’s stock, valued at approximately $6,602,595. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,066 shares of company stock valued at $2,906,175. 34.82% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP purchased a new stake in Silicon Laboratories in the second quarter valued at approximately $102,000. Advisors Asset Management Inc. lifted its stake in Silicon Laboratories by 75.1% in the third quarter. Advisors Asset Management Inc. now owns 1,292 shares of the semiconductor company’s stock valued at $103,000 after buying an additional 554 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Silicon Laboratories by 10.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,623 shares of the semiconductor company’s stock worth $111,000 after purchasing an additional 148 shares during the last quarter. Riverhead Capital Management LLC raised its stake in shares of Silicon Laboratories by 76.7% during the second quarter. Riverhead Capital Management LLC now owns 2,297 shares of the semiconductor company’s stock worth $157,000 after purchasing an additional 997 shares during the last quarter. Finally, BT Investment Management Ltd purchased a new stake in shares of Silicon Laboratories during the second quarter worth approximately $202,000. Hedge funds and other institutional investors own 90.68% of the company’s stock.

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Silicon Laboratories Company Profile

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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