Silicon Laboratories Inc. (NASDAQ:SLAB)‘s stock had its “hold” rating reaffirmed by Needham & Company LLC in a research report issued on Tuesday.
Several other equities research analysts have also recently weighed in on the stock. MKM Partners upgraded shares of Silicon Laboratories from a “neutral” rating to a “buy” rating and set a $73.00 price objective for the company in a research report on Thursday, October 27th. Stifel Nicolaus restated a “buy” rating and issued a $67.00 price objective (up previously from $65.00) on shares of Silicon Laboratories in a research report on Friday, August 26th. Roth Capital started coverage on shares of Silicon Laboratories in a research report on Wednesday, September 28th. They issued a “buy” rating and a $65.00 price objective for the company. Zacks Investment Research upgraded shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a research report on Tuesday, November 1st. Finally, Drexel Hamilton raised their target price on shares of Silicon Laboratories from $62.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, October 26th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Silicon Laboratories presently has an average rating of “Buy” and an average price target of $63.00.
Silicon Laboratories (NASDAQ:SLAB) traded up 2.08% during midday trading on Tuesday, hitting $66.25. 180,871 shares of the stock were exchanged. Silicon Laboratories has a one year low of $36.56 and a one year high of $67.70. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of 59.20 and a beta of 1.20. The company has a 50 day moving average price of $62.78 and a 200 day moving average price of $55.58.
Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results on Wednesday, October 26th. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The business earned $178.10 million during the quarter, compared to analysts’ expectations of $73.81 million. Silicon Laboratories had a net margin of 6.97% and a return on equity of 9.80%. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter last year, the company posted $0.51 EPS. Equities analysts anticipate that Silicon Laboratories will post $2.68 EPS for the current year.
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In other Silicon Laboratories news, Director Jack R. Lazar sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $55.92, for a total transaction of $223,680.00. Following the sale, the director now directly owns 17,324 shares in the company, valued at approximately $968,758.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO George Tyson Tuttle sold 5,761 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $54.67, for a total transaction of $314,953.87. Following the sale, the chief executive officer now owns 253,486 shares in the company, valued at $13,858,079.62. The disclosure for this sale can be found here. Company insiders own 2.75% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Piedmont Investment Advisors LLC bought a new stake in shares of Silicon Laboratories during the third quarter valued at approximately $519,000. Cornerstone Capital Management Holdings LLC. increased its stake in shares of Silicon Laboratories by 105.4% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 14,433 shares of the company’s stock valued at $847,000 after buying an additional 7,407 shares during the period. Ameritas Investment Partners Inc. increased its stake in shares of Silicon Laboratories by 74.0% in the third quarter. Ameritas Investment Partners Inc. now owns 16,101 shares of the company’s stock valued at $947,000 after buying an additional 6,849 shares during the period. Verition Fund Management LLC bought a new stake in shares of Silicon Laboratories during the third quarter valued at approximately $243,000. Finally, Candriam Luxembourg S.C.A. increased its stake in shares of Silicon Laboratories by 34.6% in the third quarter. Candriam Luxembourg S.C.A. now owns 18,300 shares of the company’s stock valued at $1,076,000 after buying an additional 4,700 shares during the period. Hedge funds and other institutional investors own 89.48% of the company’s stock.
Silicon Laboratories Company Profile
Silicon Laboratories Inc is a provider of silicon, software and solutions for the Internet of things (IoT), Internet infrastructure, industrial control, consumer and automotive markets. The Company provides customers with advantages in performance, energy savings, connectivity and design simplicity. It provides developers with the tools and technologies they need to advance from initial idea to final product.
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