Silicon Laboratories Inc. (SLAB) Hits New 52-Week High at $55.04
Silicon Laboratories Inc. (NASDAQ:SLAB) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $55.04 and last traded at $54.66, with a volume of 117,395 shares changing hands. The stock had previously closed at $54.17.
SLAB has been the topic of a number of research analyst reports. B. Riley reiterated a “buy” rating and issued a $60.00 target price on shares of Silicon Laboratories in a research note on Thursday, April 28th. Canaccord Genuity reiterated a “buy” rating and issued a $65.00 target price on shares of Silicon Laboratories in a research note on Wednesday, July 27th. Drexel Hamilton reiterated a “buy” rating and issued a $52.00 target price on shares of Silicon Laboratories in a research note on Thursday, July 28th. Stephens raised their target price on shares of Silicon Laboratories from $48.00 to $50.00 and gave the company an “equal weight” rating in a research note on Thursday, April 28th. Finally, Citigroup Inc. raised their target price on shares of Silicon Laboratories from $56.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $56.50.
The firm’s 50 day moving average is $51.74 and its 200 day moving average is $46.90. The firm has a market cap of $2.28 billion and a price-to-earnings ratio of 62.16.
Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.11. During the same period last year, the company posted $0.56 earnings per share. The firm had revenue of $174.90 million for the quarter, compared to the consensus estimate of $170.52 million. The business’s revenue was up 6.1% compared to the same quarter last year. Equities research analysts anticipate that Silicon Laboratories Inc. will post $2.53 earnings per share for the current year.
In other Silicon Laboratories news, CFO John C. Hollister sold 4,000 shares of the company’s stock in a transaction on Monday, June 20th. The shares were sold at an average price of $50.00, for a total transaction of $200,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William G. Bock sold 3,000 shares of the company’s stock in a transaction on Monday, June 6th. The stock was sold at an average price of $49.78, for a total transaction of $149,340.00. Following the sale, the director now directly owns 57,224 shares in the company, valued at $2,848,610.72. The disclosure for this sale can be found here.
An institutional investor recently bought a new position in Silicon Laboratories stock. Systematic Financial Management LP purchased a new stake in Silicon Laboratories Inc. (NASDAQ:SLAB) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 32,690 shares of the company’s stock, valued at approximately $1,586,000. Systematic Financial Management LP owned approximately 0.08% of Silicon Laboratories as of its most recent SEC filing.
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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