Silicon Laboratories Inc. (SLAB) Now Covered by Analysts at Roth Capital
A number of other brokerages also recently issued reports on SLAB. Stifel Nicolaus reissued 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. Zacks Investment Research downgraded shares of Silicon Laboratories from a strong-buy rating to a hold rating in a research report on Wednesday. Drexel Hamilton reissued a buy rating and set a $52.00 price objective on shares of Silicon Laboratories in a research report on Thursday, July 28th. Citigroup Inc. boosted their price objective on shares of Silicon Laboratories from $56.00 to $63.00 and gave the company a buy rating in a research report on Thursday, July 28th. Finally, Canaccord Genuity reissued a buy rating and set a $65.00 price objective on shares of Silicon Laboratories in a research report on Wednesday, July 27th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $57.91.
Shares of Silicon Laboratories (NASDAQ:SLAB) opened at 56.84 on Wednesday. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 64.59 and a beta of 1.33. Silicon Laboratories has a 12 month low of $36.56 and a 12 month high of $58.21. The company’s 50-day moving average price is $55.80 and its 200-day moving average price is $49.91.
Silicon Laboratories (NASDAQ:SLAB) last posted its earnings results on Wednesday, July 27th. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.11. Silicon Laboratories had a net margin of 5.66% and a return on equity of 8.71%. The business earned $174.90 million during the quarter, compared to the consensus estimate of $170.52 million. During the same quarter in the previous year, the firm posted $0.56 EPS. The firm’s revenue was up 6.1% on a year-over-year basis. Analysts anticipate that Silicon Laboratories will post $2.53 EPS for the current year.
In other news, CEO George Tyson Tuttle sold 5,761 shares of the business’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $54.67, for a total value of $314,953.87. Following the sale, the chief executive officer now directly owns 253,486 shares in the company, valued at approximately $13,858,079.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William G. Bock sold 3,000 shares of the business’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $54.16, for a total transaction of $162,480.00. Following the completion of the sale, 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. 2.75% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of SLAB. Acrospire Investment Management LLC increased its stake in Silicon Laboratories by 317.5% in the second quarter. Acrospire Investment Management LLC now owns 2,104 shares of the company’s stock worth $103,000 after buying an additional 1,600 shares during the period. Public Employees Retirement System of Ohio increased its stake in Silicon Laboratories by 8.5% in the second quarter. Public Employees Retirement System of Ohio now owns 2,250 shares of the company’s stock worth $110,000 after buying an additional 177 shares during the period. LS Investment Advisors LLC increased its stake in Silicon Laboratories by 74.3% in the second quarter. LS Investment Advisors LLC now owns 2,336 shares of the company’s stock worth $114,000 after buying an additional 996 shares during the period. Bank of Montreal Can acquired a new stake in Silicon Laboratories during the second quarter worth $132,000. Finally, Tower Research Capital LLC TRC acquired a new stake in Silicon Laboratories during the second quarter worth $140,000. Hedge funds and other institutional investors own 87.46% of the company’s stock.
About Silicon Laboratories
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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