Silicon Laboratories (SLAB) Price Target Cut to $85.00 by Analysts at MKM Partners

Silicon Laboratories (NASDAQ:SLAB) had its target price decreased by MKM Partners to $85.00 in a research report sent to investors on Friday, The Fly reports. MKM Partners currently has a neutral rating on the semiconductor company’s stock.

Other research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Silicon Laboratories from a buy rating to a hold rating in a report on Tuesday, August 14th. B. Riley raised their target price on shares of Silicon Laboratories to $123.00 and gave the stock a buy rating in a report on Wednesday, July 25th. BidaskClub raised shares of Silicon Laboratories from a hold rating to a buy rating in a report on Tuesday, July 10th. ValuEngine cut shares of Silicon Laboratories from a buy rating to a hold rating in a report on Thursday, September 27th. Finally, William Blair began coverage on shares of Silicon Laboratories in a report on Thursday, October 25th. They set a market perform rating for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $105.27.

Shares of Silicon Laboratories stock opened at $78.38 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 5.44 and a quick ratio of 4.91. Silicon Laboratories has a 1 year low of $75.89 and a 1 year high of $110.70. The firm has a market cap of $3.40 billion, a P/E ratio of 33.35, a price-to-earnings-growth ratio of 1.90 and a beta of 1.50.

Silicon Laboratories (NASDAQ:SLAB) last issued its earnings results on Wednesday, October 24th. The semiconductor company reported $1.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.03. Silicon Laboratories had a net margin of 7.45% and a return on equity of 12.48%. The firm had revenue of $230.20 million during the quarter, compared to analysts’ expectations of $227.36 million. During the same quarter last year, the company posted $0.90 earnings per share. The firm’s revenue was up 15.9% compared to the same quarter last year. As a group, equities analysts anticipate that Silicon Laboratories will post 2.77 earnings per share for the current fiscal year.

In other Silicon Laboratories news, Director William G. Bock sold 1,000 shares of Silicon Laboratories stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $94.50, for a total value of $94,500.00. Following the completion of the transaction, the director now owns 40,751 shares of the company’s stock, valued at $3,850,969.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Alessandro Piovaccari sold 1,607 shares of Silicon Laboratories stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $94.50, for a total transaction of $151,861.50. Following the completion of the transaction, the senior vice president now directly owns 31,074 shares of the company’s stock, valued at approximately $2,936,493. The disclosure for this sale can be found here. Insiders sold 10,916 shares of company stock valued at $1,015,797 in the last ninety days. 1.96% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Arizona State Retirement System grew its position in shares of Silicon Laboratories by 2.6% in the third quarter. Arizona State Retirement System now owns 30,781 shares of the semiconductor company’s stock valued at $2,826,000 after purchasing an additional 767 shares during the period. OLD National Bancorp IN grew its position in shares of Silicon Laboratories by 39.7% in the third quarter. OLD National Bancorp IN now owns 2,947 shares of the semiconductor company’s stock valued at $271,000 after purchasing an additional 837 shares during the period. Alps Advisors Inc. grew its position in shares of Silicon Laboratories by 102.8% in the third quarter. Alps Advisors Inc. now owns 5,566 shares of the semiconductor company’s stock valued at $511,000 after purchasing an additional 2,822 shares during the period. Retirement Systems of Alabama grew its position in shares of Silicon Laboratories by 6.9% in the third quarter. Retirement Systems of Alabama now owns 117,647 shares of the semiconductor company’s stock valued at $10,800,000 after purchasing an additional 7,543 shares during the period. Finally, First Hawaiian Bank acquired a new stake in shares of Silicon Laboratories in the third quarter valued at about $106,000. 91.34% of the stock is owned by institutional investors.

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, 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.

Further Reading: Understanding Compound Annual Growth Rate (CAGR)

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