Silicon Laboratories (SLAB) Downgraded to Strong Sell at BidaskClub
BidaskClub cut shares of Silicon Laboratories (NASDAQ:SLAB) from a sell rating to a strong sell rating in a report published on Friday morning.
Other equities research analysts have also recently issued reports about the stock. B. Riley boosted their price objective on shares of Silicon Laboratories to $123.00 and gave the company a buy rating in a research report on Wednesday, July 25th. Zacks Investment Research raised shares of Silicon Laboratories from a hold rating to a buy rating and set a $107.00 price objective on the stock in a research report on Tuesday, July 31st. Roth Capital cut their price objective on shares of Silicon Laboratories from $124.00 to $100.00 and set a buy rating on the stock in a research report on Tuesday, October 23rd. Needham & Company LLC cut their price objective on shares of Silicon Laboratories from $115.00 to $110.00 and set a buy rating on the stock in a research report on Friday. Finally, Barclays cut their price objective on shares of Silicon Laboratories from $100.00 to $90.00 and set an equal weight rating on the stock in a research report on Tuesday, October 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. Silicon Laboratories has an average rating of Hold and a consensus target price of $105.27.
Shares of NASDAQ SLAB opened at $78.88 on Friday. The firm has a market cap of $3.40 billion, a PE ratio of 33.57, a PEG ratio of 1.89 and a beta of 1.50. Silicon Laboratories has a twelve month low of $75.89 and a twelve month high of $110.70. The company has a current ratio of 5.44, a quick ratio of 4.95 and a debt-to-equity ratio of 0.34.
In other Silicon Laboratories news, SVP Alessandro Piovaccari sold 1,607 shares of the business’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $94.50, for a total transaction of $151,861.50. Following the sale, the senior vice president now directly owns 31,074 shares of the company’s stock, valued at approximately $2,936,493. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director William G. Bock sold 1,000 shares of the business’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $94.50, for a total transaction of $94,500.00. Following the sale, the director now directly owns 40,751 shares in the company, valued at $3,850,969.50. The disclosure for this sale can be found here. Insiders have sold a total of 10,916 shares of company stock worth $1,015,797 over the last three months. Insiders own 1.96% of the company’s stock.
A number of large investors have recently modified their holdings of SLAB. First Hawaiian Bank bought a new stake in Silicon Laboratories during the 3rd quarter worth about $106,000. OLD National Bancorp IN bought a new stake in Silicon Laboratories during the 2nd quarter worth about $210,000. World Asset Management Inc bought a new stake in Silicon Laboratories during the 2nd quarter worth about $212,000. Wrapmanager Inc. bought a new stake in Silicon Laboratories during the 2nd quarter worth about $212,000. Finally, Advisors Asset Management Inc. lifted its position in Silicon Laboratories by 7,462.3% during the 2nd quarter. Advisors Asset Management Inc. now owns 159,187 shares of the semiconductor company’s stock worth $224,000 after buying an additional 157,082 shares in the last quarter. 91.36% of the stock is currently owned by hedge funds and other institutional investors.
About Silicon Laboratories
Silicon Laboratories Inc, a fabless semiconductor company, designs, develops, and markets mixed-signal integrated circuits (ICs) in the United States, China, and internationally. The company offers Internet of things products, such as 8-bit mixed-signal, 32-bit wireless, and ultra-low-power 32-bit microcontrollers; wireless connectivity devices, including multiprotocol wireless Gecko system-on-chip devices; real-time operating systems; sensor products comprising optical, relative humidity/temperature, and hall effect magnetic sensors.
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