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Silicon Laboratories (NASDAQ:SLAB) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Tuesday.
Several other research firms have also recently weighed in on SLAB. Zacks Investment Research upgraded shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $107.00 price objective for the company in a research report on Tuesday, July 31st. B. Riley boosted their price objective on shares of Silicon Laboratories to $123.00 and gave the stock a “buy” rating in a research report on Wednesday, July 25th. Loop Capital dropped their price objective on shares of Silicon Laboratories to $110.00 and set a “hold” rating for the company in a research report on Thursday, July 26th. Needham & Company LLC dropped their price objective on shares of Silicon Laboratories from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, October 26th. Finally, Barclays dropped their price objective on shares of Silicon Laboratories from $100.00 to $90.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 23rd. One equities research badyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $105.27.
SLAB stock traded up $0.94 during trading on Tuesday, hitting $81.80. The company had a trading volume of 136,060 shares, compared to its average volume of 269,034. The company has a debt-to-equity ratio of 0.34, a current ratio of 5.44 and a quick ratio of 4.91. Silicon Laboratories has a 12 month low of $75.89 and a 12 month high of $110.70. The stock has a market capitalization of $3.64 billion, a PE ratio of 34.81, a price-to-earnings-growth ratio of 2.03 and a beta of 1.60.
Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings data on Wednesday, October 24th. The semiconductor company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.03. Silicon Laboratories had a net margin of 7.45% and a return on equity of 12.48%. The firm had revenue of $230.20 million during the quarter, compared to badysts’ expectations of $227.36 million. During the same quarter in the previous year, the company posted $0.90 EPS. Silicon Laboratories’s revenue was up 15.9% on a year-over-year basis. As a group, equities badysts expect that Silicon Laboratories will post 2.77 earnings per share for the current fiscal year.
In other Silicon Laboratories news, SVP Alessandro Piovaccari sold 1,607 shares of the company’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $94.50, for a total transaction of $151,861.50. Following the completion of the sale, the senior vice president now owns 31,074 shares in the company, valued at approximately $2,936,493. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William G. Bock sold 1,000 shares of the company’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $94.50, for a total transaction of $94,500.00. Following the sale, the director now owns 40,751 shares of the company’s stock, valued at approximately $3,850,969.50. The disclosure for this sale can be found here. Insiders have sold a total of 5,416 shares of company stock valued at $490,217 in the last quarter. Corporate insiders own 1.96% of the company’s stock.
Several institutional investors have recently modified their holdings of the business. Laurion Capital Management LP bought a new stake in shares of Silicon Laboratories during the 3rd quarter valued at $423,000. Riverhead Capital Management LLC grew its holdings in shares of Silicon Laboratories by 28.1% in the 3rd quarter. Riverhead Capital Management LLC now owns 4,554 shares of the semiconductor company’s stock valued at $418,000 after buying an additional 1,000 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Silicon Laboratories by 283.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,658 shares of the semiconductor company’s stock valued at $244,000 after buying an additional 1,964 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Silicon Laboratories in the 3rd quarter valued at $2,950,000. Finally, Stevens Capital Management LP acquired a new position in shares of Silicon Laboratories in the 3rd quarter valued at $356,000. Institutional investors own 92.37% of the company’s stock.
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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