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 report released on Saturday morning, BidAskClub reports.

A number of other equities analysts have also commented on SLAB. Zacks Investment Research raised shares of Silicon Laboratories from a strong sell rating to a hold rating in a research note on Wednesday, April 3rd. Roth Capital raised their price objective on shares of Silicon Laboratories from $95.00 to $110.00 and gave the stock a buy rating in a research note on Thursday, April 18th. ValuEngine raised shares of Silicon Laboratories from a hold rating to a buy rating in a research note on Friday, April 19th. Cowen reaffirmed an outperform rating and issued a $130.00 price objective (up previously from $98.00) on shares of Silicon Laboratories in a research note on Thursday, April 25th. Finally, Needham & Company LLC reiterated a hold rating on shares of Silicon Laboratories in a research report on Thursday, April 25th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $106.20.

Silicon Laboratories stock opened at $95.45 on Friday. The business has a 50 day moving average price of $96.89. 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 firm has a market cap of $4.19 billion, a price-to-earnings ratio of 33.37, a price-to-earnings-growth ratio of 3.17 and a beta of 1.64.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $0.59 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $188.02 million. During the same quarter last year, the business posted $0.87 EPS. The company’s revenue was down 8.4% on a year-over-year basis. Equities analysts expect that Silicon Laboratories will post 2.04 earnings per share for the current year.

In other Silicon Laboratories news, 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 completion of the sale, the director now owns 14,391 shares in the company, valued at approximately $1,579,412.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 sale, the director now owns 6,885 shares of the company’s stock, valued at approximately $629,357.85. The disclosure for this sale can be found here. 2.10% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc increased its position in 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 buying an additional 90,944 shares in the last quarter. SG Americas Securities LLC increased its position in Silicon Laboratories by 101.3% during the 4th quarter. SG Americas Securities LLC now owns 5,668 shares of the semiconductor company’s stock valued at $447,000 after buying an additional 2,852 shares in the last quarter. Comerica Bank increased its position in Silicon Laboratories by 2.1% during the 4th quarter. Comerica Bank now owns 28,606 shares of the semiconductor company’s stock valued at $2,562,000 after buying an additional 588 shares in the last quarter. Stephens Inc. AR increased its position in 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 buying an additional 653 shares in the last quarter. Finally, Texas Permanent School Fund increased its position in Silicon Laboratories by 3.5% during the 4th quarter. Texas Permanent School Fund now owns 28,236 shares of the semiconductor company’s stock valued at $2,225,000 after buying an additional 959 shares in the last quarter. Institutional investors own 92.05% of the company’s stock.

Silicon Laboratories Company Profile

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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