Silicon Laboratories (NASDAQ:SLAB) Cut to Hold at BidaskClub

BidaskClub downgraded shares of Silicon Laboratories (NASDAQ:SLAB) from a buy rating to a hold rating in a research report report published on Saturday morning, BidAskClub reports.

SLAB has been the topic of a number of other research reports. Cowen reiterated an outperform rating and set a $130.00 price target (up previously from $98.00) on shares of Silicon Laboratories in a research report on Thursday, April 25th. MKM Partners increased their price target on Silicon Laboratories to $105.00 in a research report on Thursday, April 25th. ValuEngine upgraded Silicon Laboratories from a hold rating to a buy rating in a research report on Friday, April 19th. Roth Capital increased their price target on Silicon Laboratories from $95.00 to $110.00 and gave the stock a buy rating in a research report on Thursday, April 18th. Finally, Needham & Company LLC reiterated a hold rating on shares of Silicon Laboratories in a research report on Thursday, April 25th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $106.20.

Shares of SLAB opened at $95.45 on Friday. Silicon Laboratories has a 52 week low of $73.13 and a 52 week high of $110.43. The company has a quick ratio of 5.52, a current ratio of 6.04 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $4.19 billion, a P/E ratio of 33.37, a price-to-earnings-growth ratio of 3.17 and a beta of 1.64. The business has a 50-day moving average of $96.89.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.12. The company had revenue of $188.11 million for the quarter, compared to the consensus estimate of $188.02 million. Silicon Laboratories had a return on equity of 10.74% and a net margin of 7.35%. Silicon Laboratories’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.87 earnings per share. Equities research analysts expect that Silicon Laboratories will post 2.04 EPS for the current fiscal year.

In other Silicon Laboratories news, Director Nina Richardson sold 913 shares of the stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $91.41, for a total transaction of $83,457.33. Following the completion of the transaction, the director now owns 6,885 shares of the company’s stock, valued at $629,357.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jack R. Lazar sold 750 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $109.75, for a total value of $82,312.50. Following the transaction, the director now directly owns 14,391 shares of the company’s stock, valued at approximately $1,579,412.25. The disclosure for this sale can be found here. 2.10% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc raised its holdings in shares of Silicon Laboratories by 2.3% during the third quarter. Vanguard Group Inc now owns 3,995,961 shares of the semiconductor company’s stock valued at $366,828,000 after acquiring an additional 90,944 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Silicon Laboratories by 4.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 797,323 shares of the semiconductor company’s stock valued at $62,837,000 after acquiring an additional 31,251 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Silicon Laboratories by 137.8% during the first quarter. Victory Capital Management Inc. now owns 658,038 shares of the semiconductor company’s stock valued at $53,209,000 after acquiring an additional 381,340 shares during the last quarter. Eagle Asset Management Inc. raised its holdings in shares of Silicon Laboratories by 12.1% during the first quarter. Eagle Asset Management Inc. now owns 578,916 shares of the semiconductor company’s stock valued at $46,811,000 after acquiring an additional 62,316 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Silicon Laboratories during the fourth quarter valued at approximately $41,679,000. 92.05% of the stock is owned by institutional investors and hedge funds.

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, including 8-bit mixed-signal, 32-bit wireless, and ultra-low-power 32-bit microcontrollers; wireless connectivity devices, such as 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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