Silicon Laboratories (NASDAQ:SLAB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Silicon Labs is a leading provider of silicon, software and solutions for the Internet of Things, Internet infrastructure, industrial automation, consumer and automotive markets. They solve the electronics industry’s toughest problems, providing customers with significant advantages in performance, energy savings, connectivity and design simplicity. Backed by their world-class engineering teams with unsurpassed software and mixed-signal design expertise, Silicon Labs empowers developers with the tools and technologies they need to advance quickly and easily from initial idea to final product. “
Other equities analysts have also issued reports about the company. Needham & Company LLC lowered their price target on Silicon Laboratories from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, October 26th. William Blair initiated coverage on Silicon Laboratories in a report on Thursday, October 25th. They set a “market perform” rating on the stock. Loop Capital decreased their price objective on Silicon Laboratories from $110.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, October 26th. B. Riley decreased their price objective on Silicon Laboratories from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, October 25th. Finally, BidaskClub raised Silicon Laboratories from a “strong sell” rating to a “sell” rating in a report on Tuesday, November 6th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Silicon Laboratories currently has an average rating of “Buy” and a consensus price target of $103.82.
SLAB traded down $0.59 on Tuesday, hitting $91.22. 6,281 shares of the stock traded hands, compared to its average volume of 241,373. Silicon Laboratories has a 52 week low of $73.13 and a 52 week high of $110.70. The company has a quick ratio of 4.91, a current ratio of 5.44 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $3.96 billion, a price-to-earnings ratio of 38.82, a P/E/G ratio of 2.17 and a beta of 1.56.
In other Silicon Laboratories news, SVP Alessandro Piovaccari sold 1,122 shares of Silicon Laboratories stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $81.48, for a total transaction of $91,420.56. Following the sale, the senior vice president now directly owns 27,343 shares of the company’s stock, valued at $2,227,907.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William G. Bock sold 1,000 shares of Silicon Laboratories stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $82.75, for a total value of $82,750.00. Following the sale, the director now directly owns 39,751 shares in the company, valued at $3,289,395.25. The disclosure for this sale can be found here. Insiders have sold 3,243 shares of company stock worth $266,675 over the last ninety days. Company insiders own 1.96% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Hawaiian Bank acquired a new position in shares of Silicon Laboratories in the 3rd quarter worth approximately $106,000. Verition Fund Management LLC acquired a new position in shares of Silicon Laboratories in the 2nd quarter worth approximately $227,000. Virtu Financial LLC acquired a new position in shares of Silicon Laboratories in the 3rd quarter worth approximately $241,000. Tower Research Capital LLC TRC boosted its holdings in shares of Silicon Laboratories by 283.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,658 shares of the semiconductor company’s stock worth $244,000 after acquiring an additional 1,964 shares in the last quarter. Finally, Oakbrook Investments LLC acquired a new position in shares of Silicon Laboratories in the 4th quarter worth approximately $213,000. 92.34% of the stock is currently owned by institutional investors.
Silicon Laboratories Company Profile
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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