Silicon Laboratories (NASDAQ:SLAB) Downgraded by Zacks Investment Research

Share on StockTwits

Zacks Investment Research downgraded shares of Silicon Laboratories (NASDAQ:SLAB) from a buy rating to a hold rating in a research note issued to investors on Saturday morning, Zacks.com reports.

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. “

SLAB has been the topic of several other reports. BidaskClub raised shares of Zumiez from a sell rating to a hold rating in a research report on Saturday, June 22nd. Needham & Company LLC cut shares of Xilinx from a buy rating to a hold rating in a research note on Thursday, April 25th. MKM Partners increased their price objective on shares of Silicon Laboratories to $105.00 in a research note on Thursday, April 25th. Roth Capital assumed coverage on shares of in a research note on Thursday, April 18th. They set a buy rating on the stock. Finally, Wells Fargo & Co restated a buy rating on shares of Allergan in a research note on Tuesday, June 25th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of Hold and an average target price of $105.70.

Shares of NASDAQ:SLAB opened at $102.98 on Friday. The company’s 50 day moving average price is $99.67. The stock has a market capitalization of $4.60 billion, a PE ratio of 36.01, a P/E/G ratio of 3.26 and a beta of 1.62. Silicon Laboratories has a 12 month low of $73.13 and a 12 month high of $110.43. The company has a current ratio of 6.04, a quick ratio of 5.52 and a debt-to-equity ratio of 0.34.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.12. Silicon Laboratories had a net margin of 7.35% and a return on equity of 10.74%. The firm had revenue of $188.11 million during the quarter, compared to analyst estimates of $188.02 million. During the same period in the previous year, the business posted $0.87 EPS. The business’s quarterly revenue was down 8.4% on a year-over-year basis. On average, equities analysts anticipate that Silicon Laboratories will post 2.03 earnings per share for the current year.

In other Silicon Laboratories news, Director Jack R. Lazar sold 750 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $109.75, for a total value of $82,312.50. Following the completion of the sale, the director now directly owns 14,391 shares in the company, valued at approximately $1,579,412.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Nina Richardson sold 913 shares of the company’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $91.41, for a total value of $83,457.33. Following the completion of the sale, the director now owns 6,885 shares of the company’s stock, valued at $629,357.85. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,663 shares of company stock valued at $271,380. 2.10% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of SLAB. Advisor Group Inc. grew its stake in Silicon Laboratories by 13.9% during the 4th quarter. Advisor Group Inc. now owns 1,345 shares of the semiconductor company’s stock worth $106,000 after buying an additional 164 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Silicon Laboratories by 1.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 17,476 shares of the semiconductor company’s stock worth $1,807,000 after purchasing an additional 246 shares during the last quarter. Redmond Asset Management LLC raised its holdings in Silicon Laboratories by 2.6% during the first quarter. Redmond Asset Management LLC now owns 10,197 shares of the semiconductor company’s stock worth $825,000 after purchasing an additional 261 shares during the last quarter. Mason Street Advisors LLC raised its holdings in shares of Silicon Laboratories by 1.4% in the first quarter. Mason Street Advisors LLC now owns 22,913 shares of the semiconductor company’s stock worth $1,853,000 after acquiring an additional 312 shares during the last quarter. Finally, Suntrust Banks Inc. raised its holdings in shares of Silicon Laboratories by 2.2% in the fourth quarter. Suntrust Banks Inc. now owns 25,267 shares of the semiconductor company’s stock worth $1,991,000 after acquiring an additional 543 shares during the last quarter. 92.10% of the stock is currently owned by hedge funds and other 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, including 8-bit mixed-signal, 32-bit wireless, and ultra-low-power 32-bit microcontrollers; wireless connectivity devices, such as multiprotocol wireless Gecko system-on-chip devices; real-time operating systems; sensor products comprising optical, relative humidity/temperature, and hall effect magnetic sensors.

Featured Story: What does a bar chart display?

Get a free copy of the Zacks research report on Silicon Laboratories (SLAB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Silicon Laboratories (NASDAQ:SLAB)

Receive News & Ratings for Silicon Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silicon Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.