Citigroup Boosts Silicon Laboratories (NASDAQ:SLAB) Price Target to $120.00

Silicon Laboratories (NASDAQ:SLAB) had its price target raised by Citigroup from $115.00 to $120.00 in a research report sent to investors on Thursday morning, BenzingaRatingsTable reports. Citigroup currently has a buy rating on the semiconductor company’s stock.

Several other analysts have also weighed in on the company. Cowen raised their price objective on Silicon Laboratories from $100.00 to $115.00 and gave the company an outperform rating in a research note on Thursday, April 30th. BidaskClub upgraded shares of Silicon Laboratories from a sell rating to a hold rating in a research note on Wednesday, April 29th. Barclays upped their price objective on shares of Silicon Laboratories from $90.00 to $105.00 and gave the stock an equal weight rating in a research report on Monday, July 20th. Needham & Company LLC restated a buy rating and issued a $120.00 target price on shares of Silicon Laboratories in a research report on Wednesday. Finally, Benchmark boosted their target price on shares of Silicon Laboratories from $100.00 to $118.00 and gave the stock a buy rating in a research note on Thursday, April 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $119.71.

Shares of SLAB stock opened at $100.51 on Thursday. The stock has a market cap of $4.39 billion, a P/E ratio of 46.97, a price-to-earnings-growth ratio of 5.33 and a beta of 1.18. Silicon Laboratories has a 1 year low of $65.09 and a 1 year high of $122.90. The company has a current ratio of 6.80, a quick ratio of 2.64 and a debt-to-equity ratio of 0.49. The stock has a 50 day simple moving average of $99.95 and a 200 day simple moving average of $96.33.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings results on Wednesday, July 29th. The semiconductor company reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.17. Silicon Laboratories had a return on equity of 8.55% and a net margin of 3.50%. The company had revenue of $207.53 million for the quarter, compared to analysts’ expectations of $199.52 million. During the same quarter last year, the business earned $0.83 earnings per share. Silicon Laboratories’s revenue was up .4% on a year-over-year basis. Analysts forecast that Silicon Laboratories will post 1.26 EPS for the current year.

In other news, CFO John C. Hollister sold 10,000 shares of Silicon Laboratories stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $96.38, for a total value of $963,800.00. Following the completion of the transaction, the chief financial officer now directly owns 61,555 shares of the company’s stock, valued at approximately $5,932,670.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Brandon Tolany sold 16,170 shares of the business’s stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $105.13, for a total value of $1,699,952.10. Following the completion of the transaction, the senior vice president now directly owns 54,776 shares in the company, valued at $5,758,600.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,170 shares of company stock valued at $3,822,650. Company insiders own 2.33% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Asset Management One Co. Ltd. bought a new position in shares of Silicon Laboratories during the 1st quarter worth approximately $53,000. Pendal Group Ltd boosted its stake in Silicon Laboratories by 432.6% during the first quarter. Pendal Group Ltd now owns 1,731 shares of the semiconductor company’s stock worth $148,000 after acquiring an additional 1,406 shares in the last quarter. Pearl River Capital LLC acquired a new stake in Silicon Laboratories in the fourth quarter worth $269,000. Wrapmanager Inc. grew its holdings in Silicon Laboratories by 24.8% in the first quarter. Wrapmanager Inc. now owns 2,784 shares of the semiconductor company’s stock worth $238,000 after purchasing an additional 553 shares during the period. Finally, Virginia Retirement Systems ET AL increased its stake in Silicon Laboratories by 20.8% in the first quarter. Virginia Retirement Systems ET AL now owns 2,900 shares of the semiconductor company’s stock valued at $248,000 after purchasing an additional 500 shares in the last quarter. 91.40% of the stock is owned by institutional investors and hedge funds.

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.

Further Reading: Why is the Consumer Price Index (CPI) important?

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.