Silicon Laboratories Inc. (SLAB) Sets New 1-Year High at $57.33
Silicon Laboratories Inc. (NASDAQ:SLAB) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $57.33 and last traded at $57.33, with a volume of 160,367 shares traded. The stock had previously closed at $56.24.
A number of equities research analysts have issued reports on SLAB shares. TheStreet upgraded shares of Silicon Laboratories from a “hold” rating to a “buy” rating in a report on Wednesday, July 27th. Drexel Hamilton restated a “buy” rating and set a $52.00 price target (up from $49.00) on shares of Silicon Laboratories in a report on Sunday, May 1st. Zacks Investment Research cut shares of Silicon Laboratories from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 29th. Citigroup Inc. upped their price target on shares of Silicon Laboratories from $56.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Finally, Needham & Company LLC restated a “hold” rating on shares of Silicon Laboratories in a report on Wednesday, July 27th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $56.50.
The company’s 50-day moving average price is $52.48 and its 200 day moving average price is $47.31. The company has a market capitalization of $2.38 billion and a price-to-earnings ratio of 65.03.
Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Wednesday, July 27th. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.11. During the same quarter in the previous year, the business earned $0.56 EPS. The business earned $174.90 million during the quarter, compared to analysts’ expectations of $170.52 million. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities research analysts forecast that Silicon Laboratories Inc. will post $2.53 EPS for the current fiscal year.
In other news, Director William G. Bock sold 3,000 shares of the firm’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 transaction, the director now owns 57,224 shares in the company, valued at $2,848,610.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Navdeep S. Sooch sold 20,800 shares of the firm’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $55.12, for a total value of $1,146,496.00. Following the transaction, the director now owns 668,856 shares in the company, valued at approximately $36,867,342.72. 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 shares of Silicon Laboratories Inc. (NASDAQ:SLAB) during the fourth quarter, according to its most recent disclosure 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 approximately 0.08% of Silicon Laboratories as of its most recent filing with the SEC.
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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