Silicon Laboratories Inc. (NASDAQ:SLAB) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $58.21 and last traded at $56.96, with a volume of 99,013 shares traded. The stock had previously closed at $57.94.

SLAB has been the topic of several research reports. Canaccord Genuity restated a “buy” rating and set a $65.00 price objective on shares of Silicon Laboratories in a report on Wednesday, July 27th. Drexel Hamilton restated a “buy” rating and set a $52.00 price objective on shares of Silicon Laboratories in a report on Thursday, July 28th. Stifel Nicolaus restated a “buy” rating and set a $67.00 price objective (up previously from $65.00) on shares of Silicon Laboratories in a report on Friday, August 26th. Citigroup boosted their price objective on shares of Silicon Laboratories from $56.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Finally, B. Riley restated a “buy” rating and set a $64.00 price objective on shares of Silicon Laboratories in a report on Wednesday, July 27th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $57.20.

The company’s 50-day moving average price is $53.94 and its 200-day moving average price is $48.07. The stock has a market cap of $2.37 billion and a PE ratio of 64.7726.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.11. The company earned $174.90 million during the quarter, compared to the consensus estimate of $170.52 million. Silicon Laboratories’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.56 earnings per share. Equities research analysts predict that Silicon Laboratories Inc. will post $2.53 EPS for the current year.

In other news, Director William G. Bock sold 3,000 shares of the stock in a transaction dated 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 directly owns 54,224 shares of the company’s stock, valued at $2,936,771.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John C. Hollister sold 4,000 shares of the stock in a transaction dated Monday, June 20th. The shares were sold at an average price of $50.00, for a total transaction of $200,000.00. The disclosure for this sale can be found here.

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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