Silicon Laboratories (NASDAQ:SLAB) Upgraded to Buy at BidaskClub

Silicon Laboratories (NASDAQ:SLAB) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a report released on Wednesday, June 5th, BidAskClub reports.

Other research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Silicon Laboratories from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 1st. MKM Partners increased their price target on shares of Silicon Laboratories to $105.00 in a research note on Thursday, April 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of Silicon Laboratories in a research report on Thursday, April 25th. Cowen reiterated an “outperform” rating and set a $130.00 target price (up from $98.00) on shares of Silicon Laboratories in a report on Thursday, April 25th. Finally, ValuEngine upgraded shares of Silicon Laboratories from a “hold” rating to a “buy” rating in a report on Friday, April 19th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $106.20.

Shares of SLAB traded up $1.32 during trading hours on Wednesday, reaching $103.40. 524,554 shares of the company traded hands, compared to its average volume of 245,924. The company has a market capitalization of $4.48 billion, a PE ratio of 36.15, a P/E/G ratio of 3.39 and a beta of 1.64. The company has a quick ratio of 5.52, a current ratio of 6.04 and a debt-to-equity ratio of 0.34. Silicon Laboratories has a 12-month low of $73.13 and a 12-month high of $110.43. The stock has a fifty day simple moving average of $96.81.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.12. Silicon Laboratories had a net margin of 7.35% and a return on equity of 10.74%. The firm had revenue of $188.11 million for the quarter, compared to analyst estimates of $188.02 million. During the same period in the previous year, the company earned $0.87 earnings per share. The business’s quarterly revenue was down 8.4% compared to the same quarter last year. On average, analysts anticipate that Silicon Laboratories will post 2.03 EPS for the current fiscal year.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Stephens Investment Management Group LLC grew its stake in Silicon Laboratories by 8.7% during the first quarter. Stephens Investment Management Group LLC now owns 447,370 shares of the semiconductor company’s stock worth $36,174,000 after buying an additional 35,757 shares during the period. Vanguard Group Inc boosted its position in shares of Silicon Laboratories by 2.3% during the 3rd quarter. Vanguard Group Inc now owns 3,995,961 shares of the semiconductor company’s stock valued at $366,828,000 after purchasing an additional 90,944 shares in the last quarter. Stephens Inc. AR boosted its position in shares of Silicon Laboratories by 47.9% during the 4th quarter. Stephens Inc. AR now owns 2,015 shares of the semiconductor company’s stock valued at $159,000 after purchasing an additional 653 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Silicon Laboratories by 9.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,923 shares of the semiconductor company’s stock valued at $230,000 after purchasing an additional 241 shares in the last quarter. Finally, Raymond James & Associates boosted its position in shares of Silicon Laboratories by 73.2% during the 1st quarter. Raymond James & Associates now owns 38,263 shares of the semiconductor company’s stock valued at $3,094,000 after purchasing an additional 16,173 shares in the last quarter. Institutional investors own 92.05% 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, 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.

Featured Story: Yield Curve

Analyst Recommendations for Silicon Laboratories (NASDAQ:SLAB)

Receive News & Ratings for Silicon Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silicon Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.