The Drexel Hamilton Raises Silicon Laboratories Inc. (SLAB) Price Target to $72.00

The Drexel Hamilton Raises Silicon Laboratories Inc. (SLAB) Price Target to $72.00

Silicon Laboratories Inc. (NASDAQ:SLAB) had its target price boosted by Drexel Hamilton from $62.00 to $72.00 in a research note issued to investors on Wednesday morning. The brokerage currently has a buy rating on the stock.

SLAB has been the topic of several other research reports. Needham & Company LLC reissued a hold rating on shares of Silicon Laboratories in a research note on Wednesday, October 5th. Stifel Nicolaus reissued a buy rating and set a $67.00 price objective (up previously from $65.00) on shares of Silicon Laboratories in a research note on Friday, August 26th. Roth Capital initiated coverage on shares of Silicon Laboratories in a research note on Wednesday, September 28th. They set a buy rating and a $65.00 price objective on the stock. Zacks Investment Research lowered shares of Silicon Laboratories from a strong-buy rating to a hold rating in a research note on Wednesday, September 28th. Finally, Canaccord Genuity reissued a buy rating and set a $65.00 price objective on shares of Silicon Laboratories in a research note on Wednesday, July 27th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Silicon Laboratories has a consensus rating of Buy and an average price target of $62.55.

Silicon Laboratories (NASDAQ:SLAB) opened at 60.35 on Wednesday. Silicon Laboratories has a 52-week low of $36.56 and a 52-week high of $63.00. The company has a market capitalization of $2.52 billion, a P/E ratio of 53.93 and a beta of 1.42. The stock’s 50 day moving average is $57.72 and its 200-day moving average is $52.10.

Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results on Wednesday, October 26th. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. The firm had revenue of $178.10 million for the quarter, compared to analyst estimates of $73.81 million. Silicon Laboratories had a net margin of 6.97% and a return on equity of 9.80%. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.51 EPS. Analysts predict that Silicon Laboratories will post $2.68 EPS for the current fiscal year.

In other news, SVP Sandeep P. Kumar sold 14,386 shares of the business’s stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of $59.50, for a total transaction of $855,967.00. Following the completion of the transaction, the senior vice president now directly owns 55,912 shares of the company’s stock, valued at $3,326,764. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William G. Bock sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $54.16, for a total transaction of $162,480.00. Following the transaction, the director now directly owns 54,224 shares of the company’s stock, valued at $2,936,771.84. The disclosure for this sale can be found here. Insiders own 2.75% of the company’s stock.

A number of hedge funds have recently made changes to their positions in SLAB. Acrospire Investment Management LLC boosted its stake in shares of Silicon Laboratories by 317.5% in the second quarter. Acrospire Investment Management LLC now owns 2,104 shares of the company’s stock worth $103,000 after buying an additional 1,600 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake 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. LS Investment Advisors LLC boosted its stake in shares of Silicon Laboratories by 74.3% in the second quarter. LS Investment Advisors LLC now owns 2,336 shares of the company’s stock worth $114,000 after buying an additional 996 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of Silicon Laboratories during the second quarter worth approximately $132,000. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of Silicon Laboratories during the second quarter worth approximately $140,000. 87.51% of the stock is owned by institutional investors and hedge funds.

About Silicon Laboratories

Related posts

Leave a Comment