Silicon Laboratories Inc. (NASDAQ:SLAB)‘s stock had its “hold” rating reiterated by investment analysts at Needham & Company LLC in a research report issued on Wednesday.
Shares of Silicon Laboratories (NASDAQ:SLAB) traded up 4.19% during midday trading on Wednesday, reaching $54.70. 595,226 shares of the company were exchanged. Silicon Laboratories has a 52-week low of $36.56 and a 52-week high of $55.04. The stock has a market capitalization of $2.28 billion and a price-to-earnings ratio of 80.32. The company’s 50-day moving average price is $49.57 and its 200 day moving average price is $45.74.
Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Wednesday, July 27th. The company reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.11. The company earned $174.90 million during the quarter, compared to the consensus estimate of $170.52 million. During the same period in the previous year, the firm posted $0.56 EPS. Silicon Laboratories’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities analysts predict that Silicon Laboratories will post $2.42 earnings per share for the current year.
Other institutional investors have made changes to their positions in the company. LS Investment Advisors LLC boosted its position in shares of Silicon Laboratories by 74.3% in the second quarter. LS Investment Advisors LLC now owns 2,336 shares of the company’s stock worth $114,000 after buying an additional 996 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Silicon Laboratories during the second quarter worth about $132,000. Bayesian Capital Management LP boosted its stake in shares of Silicon Laboratories by 3.2% in the first quarter. Bayesian Capital Management LP now owns 5,744 shares of the company’s stock worth $258,000 after buying an additional 178 shares during the period. Boothbay Fund Management LLC purchased a new stake in shares of Silicon Laboratories during the first quarter worth about $298,000. Finally, Moody Aldrich Partners LLC purchased a new stake in shares of Silicon Laboratories during the first quarter worth about $460,000.
A number of other brokerages also recently weighed in on SLAB. B. Riley reaffirmed a “buy” rating and set a $64.00 price objective on shares of Silicon Laboratories in a research report on Wednesday. Stephens boosted their target price on shares of Silicon Laboratories from $48.00 to $50.00 and gave the company an “equal weight” rating in a research note on Thursday, April 28th. Zacks Investment Research raised shares of Silicon Laboratories from a “hold” rating to a “strong-buy” rating and set a $55.00 price target for the company in a research note on Wednesday, May 4th. Drexel Hamilton reaffirmed a “buy” rating and issued a $52.00 price target (up from $49.00) on shares of Silicon Laboratories in a research note on Sunday, May 1st. Finally, Topeka Capital Markets upped their price target on shares of Silicon Laboratories from $47.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, April 27th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $53.80.
Silicon Laboratories Inc is a provider of silicon, software and solutions for the Internet of things (IoT), Internet infrastructure, industrial control, consumer and automotive markets. The Company provides customers with advantages in performance, energy savings, connectivity and design simplicity. It provides developers with the tools and technologies they need to advance from initial idea to final product.
