Silicon Laboratories Inc. (NASDAQ:SLAB) reached a new 52-week high on Friday . The company traded as high as $55.04 and last traded at $54.66, with a volume of 117,395 shares traded. The stock had previously closed at $54.17.

A number of equities research analysts have weighed in on SLAB shares. MKM Partners boosted their target price on shares of Silicon Laboratories from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Wednesday, April 27th. Topeka Capital Markets boosted their target price on shares of Silicon Laboratories from $47.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, April 27th. B. Riley reissued a “buy” rating and set a $60.00 target price on shares of Silicon Laboratories in a report on Thursday, April 28th. Stephens boosted their target price on shares of Silicon Laboratories from $48.00 to $50.00 and gave the stock an “equal weight” rating in a report on Thursday, April 28th. Finally, Drexel Hamilton reissued a “buy” rating and set a $52.00 target price (up from $49.00) on shares of Silicon Laboratories in a report on Sunday, May 1st. 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. The company has an average rating of “Buy” and an average price target of $56.50.

The company has a market cap of $2.28 billion and a P/E ratio of 62.25. The stock’s 50-day moving average price is $51.91 and its 200-day moving average price is $46.97.

Silicon Laboratories (NASDAQ:SLAB) last announced 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 company earned $174.90 million during the quarter, compared to analysts’ expectations of $170.52 million. During the same period in the prior year, the business earned $0.56 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. Analysts expect that Silicon Laboratories Inc. will post $2.53 earnings per share for the current fiscal year.

In other Silicon Laboratories news, Director William G. Bock sold 3,000 shares of Silicon Laboratories stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $49.78, for a total transaction of $149,340.00. Following the transaction, the director now directly owns 57,224 shares of the company’s stock, valued at $2,848,610.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Navdeep S. Sooch sold 4,200 shares of Silicon Laboratories stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $55.00, for a total transaction of $231,000.00. Following the transaction, the director now directly owns 670,556 shares in the company, valued at $36,880,580. The disclosure for this sale can be found here.

A hedge fund recently bought a new stake 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 filing with the SEC. The fund purchased 32,690 shares of the company’s stock, valued at approximately $1,586,000. Systematic Financial Management LP owned about 0.08% of Silicon Laboratories at the end of the most recent reporting period.

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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