Silicon Laboratories (SLAB) Raised to “Sell” at BidaskClub

Silicon Laboratories (NASDAQ:SLAB) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $107.00 price objective on the stock in a research note on Tuesday, July 31st. B. Riley lifted their price objective on shares of Silicon Laboratories to $123.00 and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Loop Capital lowered their price objective on shares of Silicon Laboratories to $110.00 and set a “hold” rating on the stock in a research note on Thursday, July 26th. Needham & Company LLC lowered their price objective on shares of Silicon Laboratories from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, October 26th. Finally, Barclays lowered their price objective on shares of Silicon Laboratories from $100.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $105.27.

SLAB stock opened at $85.54 on Tuesday. Silicon Laboratories has a 52 week low of $75.89 and a 52 week high of $110.70. The stock has a market cap of $3.76 billion, a price-to-earnings ratio of 36.40, a P/E/G ratio of 2.09 and a beta of 1.60. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.91 and a current ratio of 5.44.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings results on Wednesday, October 24th. The semiconductor company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.03. Silicon Laboratories had a net margin of 7.45% and a return on equity of 12.48%. The company had revenue of $230.20 million for the quarter, compared to the consensus estimate of $227.36 million. During the same period in the previous year, the firm earned $0.90 EPS. Silicon Laboratories’s revenue was up 15.9% on a year-over-year basis. On average, research analysts expect that Silicon Laboratories will post 2.77 EPS for the current year.

In other news, Director William G. Bock sold 1,000 shares of Silicon Laboratories stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $94.50, for a total value of $94,500.00. Following the transaction, the director now owns 40,751 shares of the company’s stock, valued at approximately $3,850,969.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Alessandro Piovaccari sold 1,607 shares of Silicon Laboratories stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $94.50, for a total transaction of $151,861.50. Following the completion of the transaction, the senior vice president now directly owns 31,074 shares in the company, valued at $2,936,493. The disclosure for this sale can be found here. Insiders sold a total of 10,916 shares of company stock worth $1,015,797 in the last ninety days. Corporate insiders own 1.96% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in SLAB. First Hawaiian Bank purchased a new position in shares of Silicon Laboratories in the third quarter worth approximately $106,000. OLD National Bancorp IN purchased a new position in shares of Silicon Laboratories in the second quarter worth approximately $210,000. World Asset Management Inc purchased a new position in shares of Silicon Laboratories in the second quarter worth approximately $212,000. Wrapmanager Inc. purchased a new position in shares of Silicon Laboratories in the second quarter worth approximately $212,000. Finally, Advisors Asset Management Inc. increased its position in shares of Silicon Laboratories by 7,462.3% in the second quarter. Advisors Asset Management Inc. now owns 159,187 shares of the semiconductor company’s stock worth $224,000 after acquiring an additional 157,082 shares in the last quarter. 91.37% of the stock is currently 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, 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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