Zacks Investment Research upgraded shares of Silicon Labs (NASDAQ:SLAB) from a sell rating to a hold rating in a research note issued to investors on Thursday.
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. “
Several other research analysts also recently issued reports on the company. B. Riley reaffirmed a buy rating on shares of Silicon Labs in a report on Monday, January 29th. BidaskClub downgraded Silicon Labs from a buy rating to a hold rating in a report on Wednesday, December 27th. Needham & Company LLC reaffirmed a buy rating and set a $110.00 price objective on shares of Silicon Labs in a report on Monday, December 11th. Drexel Hamilton reaffirmed a buy rating and set a $111.00 price objective (up previously from $103.00) on shares of Silicon Labs in a report on Wednesday, January 31st. Finally, Roth Capital upped their price objective on Silicon Labs from $105.00 to $110.00 and gave the stock a buy rating in a report on Tuesday, January 30th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Silicon Labs presently has an average rating of Buy and an average target price of $104.60.
Shares of SLAB opened at $87.75 on Thursday. The company has a market capitalization of $3,788.26, a PE ratio of 37.34, a price-to-earnings-growth ratio of 2.32 and a beta of 1.42. The company has a debt-to-equity ratio of 0.36, a quick ratio of 5.39 and a current ratio of 5.84. Silicon Labs has a one year low of $66.35 and a one year high of $101.90.
Silicon Labs (NASDAQ:SLAB) last announced its earnings results on Wednesday, January 31st. The semiconductor company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.86 by $0.07. The business had revenue of $201.02 million for the quarter, compared to the consensus estimate of $197.93 million. Silicon Labs had a return on equity of 11.11% and a net margin of 6.12%. Silicon Labs’s revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.75 EPS. sell-side analysts expect that Silicon Labs will post 2.52 EPS for the current fiscal year.
In other Silicon Labs news, Director William G. Bock sold 2,500 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $91.91, for a total transaction of $229,775.00. Following the completion of the sale, the director now owns 40,926 shares in the company, valued at approximately $3,761,508.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Brandon Tolany sold 18,235 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $95.00, for a total transaction 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. In the last ninety days, insiders have sold 35,676 shares of company stock worth $3,378,918. Company insiders own 1.96% of the company’s stock.
Several institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its position in shares of Silicon Labs by 2.2% during the 4th quarter. BlackRock Inc. now owns 4,765,980 shares of the semiconductor company’s stock valued at $420,837,000 after acquiring an additional 102,811 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Silicon Labs by 0.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 895,422 shares of the semiconductor company’s stock valued at $71,546,000 after acquiring an additional 3,229 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Silicon Labs by 0.7% during the 4th quarter. Alliancebernstein L.P. now owns 516,390 shares of the semiconductor company’s stock valued at $45,597,000 after acquiring an additional 3,675 shares during the last quarter. Copper Rock Capital Partners LLC raised its position in shares of Silicon Labs by 3.6% during the 4th quarter. Copper Rock Capital Partners LLC now owns 449,848 shares of the semiconductor company’s stock valued at $40,014,000 after acquiring an additional 15,594 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Silicon Labs by 23.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 323,794 shares of the semiconductor company’s stock valued at $25,870,000 after acquiring an additional 62,136 shares during the last quarter. Institutional investors own 89.57% of the company’s stock.
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Silicon Labs Company Profile
Silicon Laboratories Inc, a fabless semiconductor company, designs, develops, and markets mixed-signal integrated circuits (ICs) in the United States, China, and internationally. The company offers Internet of things products, such as 8-bit mixed-signal, 32-bit wireless, and ultra-low-power 32-bit microcontrollers; wireless connectivity devices, including multiprotocol wireless Gecko system-on-chip devices; real-time operating systems; sensor products comprising optical, relative humidity/temperature, and hall effect magnetic sensors.
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