According to Zacks, “Silicon Laboratories Inc. design and develop proprietary, analog-intensive, mixed-signal integrated circuits for the rapidly growing communications industry. Mixed-signal integrated circuits are electronic components that convert real-world analog signals, such as sound and radio waves, into digital signals that electronic products can process. Mixed-signal integrated circuits are critical components of numerous communications products, including cellular telephones, cable and satellite set-top boxes, modems and fax machines. “
Other analysts also recently issued research reports about the stock. Stifel Nicolaus reaffirmed a buy rating and set a $67.00 price objective (up previously from $65.00) on shares of Silicon Laboratories in a research report on Friday, August 26th. Drexel Hamilton reaffirmed a buy rating and set a $52.00 price objective on shares of Silicon Laboratories in a research report on Thursday, July 28th. TheStreet raised shares of Silicon Laboratories from a hold rating to a buy rating in a research report on Wednesday, July 27th. Citigroup Inc. raised their price objective on shares of Silicon Laboratories from $56.00 to $63.00 and gave the stock a buy rating in a research report on Thursday, July 28th. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Silicon Laboratories in a research report on Wednesday, July 27th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $57.91.
Shares of Silicon Laboratories (NASDAQ:SLAB) traded up 0.30% on Wednesday, reaching $57.01. 291,674 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $55.80 and its 200-day moving average price is $49.91. Silicon Laboratories has a 52-week low of $36.56 and a 52-week high of $58.21. The stock has a market cap of $2.37 billion, a P/E ratio of 64.78 and a beta of 1.33.
Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Wednesday, July 27th. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.11. The business earned $174.90 million during the quarter, compared to the consensus estimate of $170.52 million. Silicon Laboratories had a net margin of 5.66% and a return on equity of 8.71%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.56 EPS. Equities analysts forecast that Silicon Laboratories will post $2.53 EPS for the current fiscal year.
In other Silicon Laboratories news, CEO George Tyson Tuttle sold 5,761 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 253,486 shares in the company, valued at approximately $13,858,079.62. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William G. Bock sold 3,000 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $54.16, for a total value of $162,480.00. Following the transaction, the director now owns 54,224 shares in the company, valued at $2,936,771.84. The disclosure for this sale can be found here. Company insiders own 2.75% of the company’s stock.
A number of institutional investors have recently modified their holdings of SLAB. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Silicon Laboratories during the first quarter worth approximately $1,247,000. Ngam Advisors L.P. boosted its stake in Silicon Laboratories by 25.9% in the first quarter. Ngam Advisors L.P. now owns 125,217 shares of the company’s stock worth $5,630,000 after buying an additional 25,764 shares during the last quarter. Prudential Financial Inc. boosted its stake in Silicon Laboratories by 32.4% in the first quarter. Prudential Financial Inc. now owns 72,363 shares of the company’s stock worth $3,253,000 after buying an additional 17,700 shares during the last quarter. BlackRock Inc. boosted its stake in Silicon Laboratories by 8.6% in the first quarter. BlackRock Inc. now owns 15,225 shares of the company’s stock worth $684,000 after buying an additional 1,200 shares during the last quarter. Finally, BlackRock Group LTD boosted its stake in Silicon Laboratories by 30.4% in the first quarter. BlackRock Group LTD now owns 26,985 shares of the company’s stock worth $1,212,000 after buying an additional 6,297 shares during the last quarter. Institutional investors and hedge funds own 87.46% 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Silicon Laboratories Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silicon Laboratories Inc. and related companies with MarketBeat.com's FREE daily email newsletter.