BidaskClub Lowers Silicon Laboratories, Inc. (SLAB) to Buy

BidaskClub downgraded shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) from a strong-buy rating to a buy rating in a research note published on Friday morning.

Several other brokerages have also recently commented on SLAB. DA Davidson reiterated a buy rating and issued a $80.00 target price (up from $77.00) on shares of Silicon Laboratories in a report on Monday, March 6th. B. Riley reiterated a buy rating and issued a $81.00 target price on shares of Silicon Laboratories in a report on Tuesday, March 7th. Zacks Investment Research cut shares of Silicon Laboratories from a strong-buy rating to a hold rating in a report on Wednesday, April 5th. Canaccord Genuity reiterated a buy rating and issued a $83.00 target price on shares of Silicon Laboratories in a report on Thursday, April 27th. Finally, Drexel Hamilton reiterated a buy rating and issued a $85.00 target price (up from $80.00) on shares of Silicon Laboratories in a report on Saturday, April 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company’s stock. Silicon Laboratories has an average rating of Buy and a consensus target price of $77.18.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings data on Wednesday, April 26th. The semiconductor company reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.23. Silicon Laboratories had a net margin of 9.95% and a return on equity of 11.36%. The company had revenue of $179 million during the quarter, compared to analyst estimates of $176.89 million. During the same quarter last year, the firm posted $0.51 EPS. The business’s revenue for the quarter was up 10.5% on a year-over-year basis.

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In related news, Director William P. Wood sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $73.60, for a total transaction of $368,000.00. Following the completion of the sale, the director now directly owns 32,824 shares in the company, valued at $2,415,846.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Nina Richardson sold 1,669 shares of the firm’s stock in a transaction that occurred on Friday, April 21st. The stock was sold at an average price of $72.35, for a total transaction of $120,752.15. Following the sale, the director now owns 4,371 shares of the company’s stock, valued at $316,241.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 124,995 shares of company stock valued at $9,216,589. 34.82% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. O Shaughnessy Asset Management LLC bought a new stake in Silicon Laboratories during the fourth quarter valued at approximately $103,000. Bronfman E.L. Rothschild L.P. boosted its stake in Silicon Laboratories by 3.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,685 shares of the semiconductor company’s stock valued at $124,000 after buying an additional 49 shares in the last quarter. Cantab Capital Partners LLP bought a new stake in Silicon Laboratories during the fourth quarter valued at approximately $153,000. Elkfork Partners LLC bought a new stake in Silicon Laboratories during the fourth quarter valued at approximately $167,000. Finally, Capstone Asset Management Co. bought a new stake in Silicon Laboratories during the first quarter valued at approximately $222,000. Institutional investors and hedge funds own 89.84% of the company’s stock.

About Silicon Laboratories

Silicon Laboratories Inc is a provider of silicon, software and solutions for the Internet of Things (IoT), Internet infrastructure, industrial, consumer and automotive markets. The Company operates through mixed-signal analog intensive products segment. It provides analog-intensive, mixed-signal solutions for use in a range of electronic products in various applications for the IoT market.

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