B. Riley Set “Purchase” Rating for Silicon Laboratories, Inc. (SLAB)

B. Riley Set “Purchase” Rating for Silicon Laboratories, Inc. (SLAB)

Silicon Laboratories, Inc. (NASDAQ:SLAB)‘s stock had its “buy” rating reaffirmed by equities research analysts at B. Riley in a research note issued to investors on Wednesday.

Other equities analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a research report on Tuesday, November 1st. MKM Partners upgraded shares of Silicon Laboratories from a “neutral” rating to a “buy” rating and set a $73.00 price objective on the stock in a research report on Thursday, October 27th. Drexel Hamilton lifted their price objective on shares of Silicon Laboratories from $62.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, October 26th. Canaccord Genuity reiterated a “buy” rating and set a $71.00 price objective on shares of Silicon Laboratories in a research report on Tuesday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Silicon Laboratories in a research report on Tuesday, December 6th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Silicon Laboratories has an average rating of “Buy” and an average price target of $63.55.

Silicon Laboratories (NASDAQ:SLAB) opened at 65.20 on Wednesday. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of 58.27 and a beta of 1.19. Silicon Laboratories has a 52-week low of $36.56 and a 52-week high of $68.95. The firm has a 50-day moving average price of $66.15 and a 200 day moving average price of $60.25.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings data on Wednesday, February 1st. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.10. Silicon Laboratories had a net margin of 6.97% and a return on equity of 9.80%. The firm had revenue of $183 million for the quarter, compared to analysts’ expectations of $178.57 million. During the same period in the previous year, the company posted $0.63 EPS. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. On average, equities research analysts predict that Silicon Laboratories will post $2.68 EPS for the current year.

In other news, Director Navdeep S. Sooch sold 32,816 shares of the company’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $64.01, for a total transaction of $2,100,552.16. Following the completion of the transaction, the director now owns 524,656 shares of the company’s stock, valued at $33,583,230.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William G. Bock sold 3,000 shares of the company’s stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $64.05, for a total transaction of $192,150.00. Following the transaction, the director now directly owns 51,224 shares of the company’s stock, valued at approximately $3,280,897.20. The disclosure for this sale can be found here. 2.75% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bronfman E.L. Rothschild L.P. raised its position in shares of Silicon Laboratories by 1.5% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 1,739 shares of the company’s stock worth $102,000 after buying an additional 25 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Silicon Laboratories by 8.5% in the second quarter. Public Employees Retirement System of Ohio now owns 2,250 shares of the company’s stock worth $110,000 after buying an additional 177 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Silicon Laboratories by 5.2% in the third quarter. Victory Capital Management Inc. now owns 1,881 shares of the company’s stock worth $111,000 after buying an additional 93 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in shares of Silicon Laboratories during the second quarter worth approximately $140,000. Finally, Acrospire Investment Management LLC raised its position in shares of Silicon Laboratories by 23.8% in the third quarter. Acrospire Investment Management LLC now owns 2,604 shares of the company’s stock worth $153,000 after buying an additional 500 shares in the last quarter. 89.53% of the stock is owned by institutional investors and hedge funds.

Silicon Laboratories Company Profile

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.

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