Silicon Laboratories (SLAB) Lowered to Hold at BidaskClub

BidaskClub downgraded shares of Silicon Laboratories (NASDAQ:SLAB) from a buy rating to a hold rating in a research note published on Wednesday.

Other equities research analysts have also recently issued research reports about the stock. Drexel Hamilton reaffirmed a buy rating and issued a $103.00 price objective (up previously from $85.00) on shares of Silicon Laboratories in a research note on Wednesday, October 25th. Roth Capital upped their price objective on shares of Silicon Laboratories from $85.00 to $100.00 and gave the company a buy rating in a research note on Tuesday, October 24th. Zacks Investment Research cut shares of Silicon Laboratories from a buy rating to a hold rating in a research note on Tuesday, September 19th. Needham & Company LLC reiterated a buy rating and set a $85.00 price target on shares of Silicon Laboratories in a report on Monday, September 18th. Finally, Canaccord Genuity upped their price target on shares of Silicon Laboratories from $95.00 to $98.00 and gave the company a buy rating in a report on Thursday, October 26th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $99.44.

Shares of Silicon Laboratories (NASDAQ SLAB) opened at $88.80 on Wednesday. Silicon Laboratories has a 12 month low of $63.15 and a 12 month high of $96.93. The stock has a market cap of $3,803.20, a price-to-earnings ratio of 53.17, a PEG ratio of 2.62 and a beta of 1.37. The company has a quick ratio of 5.20, a current ratio of 5.66 and a debt-to-equity ratio of 0.40.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings data on Wednesday, October 25th. The semiconductor company reported $0.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.09. Silicon Laboratories had a net margin of 9.60% and a return on equity of 11.06%. The company had revenue of $198.70 million during the quarter, compared to analysts’ expectations of $196.20 million. During the same quarter in the prior year, the company earned $0.77 EPS. The firm’s revenue was up 11.6% on a year-over-year basis. analysts forecast that Silicon Laboratories will post 2.27 earnings per share for the current fiscal year.

In other Silicon Laboratories news, Director William G. Bock sold 2,500 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $89.24, for a total value of $223,100.00. Following the completion of the transaction, the director now directly owns 43,426 shares in the company, valued at approximately $3,875,336.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William P. Wood sold 5,000 shares of the company’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $81.45, for a total transaction of $407,250.00. The disclosure for this sale can be found here. Insiders have sold a total of 19,700 shares of company stock valued at $1,744,900 over the last quarter. 34.82% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio raised its holdings in Silicon Laboratories by 2,162.2% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 41,693 shares of the semiconductor company’s stock worth $3,331,000 after purchasing an additional 39,850 shares in the last quarter. GSA Capital Partners LLP raised its holdings in Silicon Laboratories by 15.1% in the 3rd quarter. GSA Capital Partners LLP now owns 13,126 shares of the semiconductor company’s stock worth $1,049,000 after purchasing an additional 1,720 shares in the last quarter. Sterling Capital Management LLC raised its holdings in Silicon Laboratories by 74.5% in the 3rd quarter. Sterling Capital Management LLC now owns 31,850 shares of the semiconductor company’s stock worth $2,545,000 after purchasing an additional 13,598 shares in the last quarter. Neuberger Berman Group LLC bought a new position in Silicon Laboratories in the 3rd quarter worth $274,000. Finally, California Public Employees Retirement System raised its holdings in Silicon Laboratories by 1.0% in the 3rd quarter. California Public Employees Retirement System now owns 70,391 shares of the semiconductor company’s stock worth $5,624,000 after purchasing an additional 691 shares in the last quarter. Institutional investors and hedge funds own 90.80% of the company’s stock.

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Silicon Laboratories Company Profile

Silicon Laboratories Inc is a provider of silicon, software and solutions for the Internet of Things (IoT), Internet infrastructure, industrial, consumer and automotive markets. The Company operates through mixed-signal analog intensive products segment. It provides analog-intensive, mixed-signal solutions for use in a range of electronic products in various applications for the IoT market.

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