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.
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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