Needham & Company LLC reissued their buy rating on shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) in a research note issued to investors on Monday. The firm currently has a $85.00 price target on the semiconductor company’s stock.
Other equities research analysts have also recently issued research reports about the company. B. Riley restated a buy rating and issued a $90.00 target price on shares of Silicon Laboratories in a research note on Friday, July 28th. BidaskClub cut Silicon Laboratories from a strong-buy rating to a buy rating in a research note on Friday, June 16th. Zacks Investment Research cut Silicon Laboratories from a buy rating to a hold rating in a research note on Friday, August 25th. Finally, Stifel Nicolaus restated a buy rating and issued a $85.00 target price (up previously from $82.00) on shares of Silicon Laboratories in a research note on Thursday, July 27th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of Buy and an average price target of $80.70.
Silicon Laboratories (NASDAQ:SLAB) opened at 79.45 on Monday. The firm has a market cap of $3.38 billion, a P/E ratio of 47.38 and a beta of 1.25. The company has a 50-day moving average price of $75.48 and a 200-day moving average price of $72.76. Silicon Laboratories has a 12-month low of $55.04 and a 12-month high of $80.20.
Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Wednesday, July 26th. The semiconductor company reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.08. The firm had revenue of $190.10 million for the quarter, compared to analysts’ expectations of $186.46 million. Silicon Laboratories had a return on equity of 11.15% and a net margin of 9.88%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.75 EPS. On average, analysts predict that Silicon Laboratories will post $3.06 earnings per share for the current year.
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In related news, CEO George Tyson Tuttle sold 7,693 shares of the business’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $80.01, for a total transaction of $615,516.93. Following the transaction, the chief executive officer now directly owns 199,543 shares of the company’s stock, valued at approximately $15,965,435.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William P. Wood sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $68.55, for a total value of $342,750.00. Following the transaction, the director now directly owns 30,526 shares in the company, valued at $2,092,557.30. The disclosure for this sale can be found here. Insiders have sold a total of 34,906 shares of company stock worth $2,647,707 over the last three months. 34.82% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of SLAB. Quantbot Technologies LP acquired a new position in Silicon Laboratories in the 2nd quarter valued at $102,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Silicon Laboratories by 10.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,623 shares of the semiconductor company’s stock valued at $111,000 after buying an additional 148 shares in the last quarter. Riverhead Capital Management LLC grew its holdings in Silicon Laboratories by 76.7% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,297 shares of the semiconductor company’s stock valued at $157,000 after buying an additional 997 shares in the last quarter. Pier 88 Investment Partners LLC acquired a new position in Silicon Laboratories in the 2nd quarter valued at $187,000. Finally, BT Investment Management Ltd acquired a new position in Silicon Laboratories in the 2nd quarter valued at $202,000. 88.98% 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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