BidaskClub Upgrades Silicon Laboratories (SLAB) to “Buy”

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

Other equities analysts have also recently issued research reports about the stock. Drexel Hamilton reiterated 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 raised their target price on shares of Silicon Laboratories from $85.00 to $100.00 and gave the stock 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 restated a buy rating and set a $85.00 target price on shares of Silicon Laboratories in a research note on Monday, September 18th. Finally, Canaccord Genuity raised their target price on shares of Silicon Laboratories from $95.00 to $98.00 and gave the stock a buy rating in a research note on Thursday, October 26th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Silicon Laboratories presently has a consensus rating of Buy and an average price target of $99.44.

Silicon Laboratories (SLAB) opened at $96.35 on Friday. Silicon Laboratories has a one year low of $63.15 and a one year high of $96.93. The company has a quick ratio of 5.20, a current ratio of 5.66 and a debt-to-equity ratio of 0.40. The firm has a market cap of $4,100.00, a P/E ratio of 57.69, a PEG ratio of 2.44 and a beta of 1.37.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data on Wednesday, October 25th. The semiconductor company reported $0.90 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $198.70 million for the quarter, compared to analysts’ expectations of $196.20 million. During the same quarter in the prior year, the business earned $0.77 EPS. The business’s quarterly revenue was up 11.6% on a year-over-year basis. research analysts expect 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 firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $89.24, for a total transaction of $223,100.00. Following the sale, the director now owns 43,426 shares in the company, valued at approximately $3,875,336.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William P. Wood sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $91.30, for a total transaction of $456,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,700 shares of company stock worth $1,337,650. 34.82% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in SLAB. Vanguard Group Inc. raised its position in shares of Silicon Laboratories by 4.7% during the second quarter. Vanguard Group Inc. now owns 3,446,677 shares of the semiconductor company’s stock valued at $235,581,000 after buying an additional 154,654 shares during the last quarter. TCW Group Inc. raised its position in shares of Silicon Laboratories by 164.9% during the third quarter. TCW Group Inc. now owns 229,473 shares of the semiconductor company’s stock valued at $18,335,000 after buying an additional 142,832 shares during the last quarter. Cortina Asset Management LLC raised its position in shares of Silicon Laboratories by 49.9% during the third quarter. Cortina Asset Management LLC now owns 312,353 shares of the semiconductor company’s stock valued at $24,957,000 after buying an additional 103,956 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Silicon Laboratories by 9.4% during the third quarter. Bank of New York Mellon Corp now owns 920,839 shares of the semiconductor company’s stock valued at $73,574,000 after buying an additional 79,247 shares during the last quarter. Finally, State Street Corp raised its position in shares of Silicon Laboratories by 5.1% during the second quarter. State Street Corp now owns 1,520,505 shares of the semiconductor company’s stock valued at $103,925,000 after buying an additional 74,439 shares during the last quarter. Hedge funds and other institutional investors 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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