Silicon Laboratories Inc. (SLAB) Reaches New 52-Week High at $57.33
Silicon Laboratories Inc. (NASDAQ:SLAB) reached a new 52-week high on Thursday . The company traded as high as $57.33 and last traded at $57.33, with a volume of 160,367 shares. The stock had previously closed at $56.24.
A number of equities research analysts recently weighed in on SLAB shares. Stifel Nicolaus reissued a “buy” rating and set a $67.00 price target (up from $65.00) on shares of Silicon Laboratories in a research note on Friday. B. Riley reissued a “buy” rating and set a $60.00 price target on shares of Silicon Laboratories in a research note on Tuesday, May 3rd. Drexel Hamilton reissued a “buy” rating and set a $52.00 price target (up from $49.00) on shares of Silicon Laboratories in a research note on Sunday, May 1st. TheStreet raised shares of Silicon Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday, July 27th. Finally, Citigroup Inc. boosted their price target on shares of Silicon Laboratories from $56.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. Five 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 company’s stock. The stock currently has an average rating of “Buy” and an average target price of $57.20.
The firm’s 50-day moving average is $53.05 and its 200-day moving average is $47.51. The company has a market capitalization of $2.39 billion and a P/E ratio of 65.35.
Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.11. During the same quarter last year, the business earned $0.56 EPS. The business earned $174.90 million during the quarter, compared to the consensus estimate of $170.52 million. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities analysts expect that Silicon Laboratories Inc. will post $2.53 EPS for the current fiscal year.
In related news, Director Navdeep S. Sooch sold 20,800 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 668,856 shares in the company, valued at approximately $36,867,342.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO John C. Hollister sold 4,000 shares of the firm’s stock in a transaction that occurred on 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.
An institutional investor recently raised its position in Silicon Laboratories stock. New York State Common Retirement Fund raised its position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 5.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,200 shares of the company’s stock after buying an additional 2,200 shares during the period. New York State Common Retirement Fund owned 0.10% of Silicon Laboratories worth $2,000,000 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.