Silicon Laboratories (SLAB) Downgraded to Hold at BidaskClub

Silicon Laboratories (NASDAQ:SLAB) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, BidAskClub reports.

Other analysts also recently issued research reports about the company. MKM Partners lifted their target price on Silicon Laboratories to $105.00 in a research note on Thursday, April 25th. ValuEngine raised Silicon Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. Roth Capital lifted their target price on Silicon Laboratories from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Zacks Investment Research raised Silicon Laboratories from a “hold” rating to a “buy” rating and set a $101.00 target price on the stock in a research note on Saturday, January 26th. Finally, Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of Silicon Laboratories in a research note on Thursday, January 24th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $105.70.

Shares of SLAB opened at $95.23 on Wednesday. The company has a market cap of $4.13 billion, a P/E ratio of 33.30, a price-to-earnings-growth ratio of 3.12 and a beta of 1.60. Silicon Laboratories has a 12-month low of $73.13 and a 12-month high of $110.70. The company has a debt-to-equity ratio of 0.34, a quick ratio of 5.52 and a current ratio of 6.04.

Silicon Laboratories (NASDAQ:SLAB) last issued its earnings results on Wednesday, April 24th. The semiconductor company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.12. The company had revenue of $188.11 million for the quarter, compared to the consensus estimate of $188.02 million. Silicon Laboratories had a return on equity of 10.74% and a net margin of 7.35%. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter last year, the company earned $0.87 EPS. On average, equities analysts expect that Silicon Laboratories will post 2.04 EPS for the current year.

In other Silicon Laboratories news, Director Nina Richardson sold 913 shares of the firm’s 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 transaction, the director now owns 6,885 shares in the company, valued at approximately $629,357.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jack R. Lazar sold 750 shares of the firm’s 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 transaction, the director now owns 14,391 shares of the company’s stock, valued at approximately $1,579,412.25. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stephens Investment Management Group LLC grew its holdings in Silicon Laboratories by 8.7% during the 1st quarter. Stephens Investment Management Group LLC now owns 447,370 shares of the semiconductor company’s stock valued at $36,174,000 after buying an additional 35,757 shares in the last quarter. Vanguard Group Inc boosted its holdings in shares of Silicon Laboratories by 2.3% in the 3rd quarter. Vanguard Group Inc now owns 3,995,961 shares of the semiconductor company’s stock worth $366,828,000 after purchasing an additional 90,944 shares during the period. Stephens Inc. AR boosted its holdings in shares of Silicon Laboratories by 47.9% in the 4th quarter. Stephens Inc. AR now owns 2,015 shares of the semiconductor company’s stock worth $159,000 after purchasing an additional 653 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Silicon Laboratories by 9.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,923 shares of the semiconductor company’s stock worth $230,000 after purchasing an additional 241 shares during the period. Finally, Davidson Investment Advisors boosted its holdings in shares of Silicon Laboratories by 4.9% in the 4th quarter. Davidson Investment Advisors now owns 76,738 shares of the semiconductor company’s stock worth $6,048,000 after purchasing an additional 3,575 shares during the period. Institutional investors and hedge funds own 94.03% 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.

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