Cowen Initiates Coverage on Silicon Labs (SLAB)

Analysts at Cowen began coverage on shares of Silicon Labs (NASDAQ:SLAB) in a note issued to investors on Thursday. The brokerage set an “outperform” rating and a $125.00 price target on the semiconductor company’s stock. Cowen’s price objective points to a potential upside of 20.48% from the stock’s current price.

SLAB has been the topic of a number of other reports. Zacks Investment Research upgraded Silicon Labs from a “sell” rating to a “hold” rating in a research note on Thursday, April 5th. Needham & Company LLC reiterated a “buy” rating and set a $115.00 target price (up from $110.00) on shares of Silicon Labs in a research note on Thursday, February 1st. ValuEngine upgraded Silicon Labs from a “hold” rating to a “buy” rating in a research note on Thursday, April 12th. Stifel Nicolaus reiterated a “buy” rating and set a $108.00 target price (up from $100.00) on shares of Silicon Labs in a research note on Thursday, January 18th. Finally, B. Riley boosted their price objective on Silicon Labs from $115.00 to $118.00 and gave the company a “buy” rating in a research note on Thursday, April 26th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $109.80.

Shares of Silicon Labs traded down $0.15, reaching $103.75, during mid-day trading on Thursday, according to Marketbeat.com. 128,580 shares of the company’s stock were exchanged, compared to its average volume of 243,671. The stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of 44.15, a PEG ratio of 2.59 and a beta of 1.43. Silicon Labs has a 52 week low of $101.80 and a 52 week high of $102.80. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.74 and a quick ratio of 6.21.

Silicon Labs (NASDAQ:SLAB) last released its earnings results on Wednesday, April 25th. The semiconductor company reported $0.87 EPS for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.11. The company had revenue of $205.38 million for the quarter, compared to analysts’ expectations of $199.33 million. Silicon Labs had a return on equity of 11.67% and a net margin of 7.30%. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.63 EPS. research analysts expect that Silicon Labs will post 2.63 EPS for the current fiscal year.

In other Silicon Labs news, SVP Brandon Tolany sold 9,060 shares of Silicon Labs stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $91.47, for a total transaction of $828,718.20. Following the completion of the transaction, the senior vice president now owns 44,246 shares of the company’s stock, valued at approximately $4,047,181.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Sandeep P. Kumar sold 5,750 shares of Silicon Labs stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $100.00, for a total value of $575,000.00. Following the transaction, the senior vice president now directly owns 41,633 shares of the company’s stock, valued at approximately $4,163,300. The disclosure for this sale can be found here. Insiders sold a total of 15,010 shares of company stock worth $1,422,678 over the last 90 days. 1.96% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of SLAB. Schwab Charles Investment Management Inc. grew its holdings in Silicon Labs by 3.5% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 248,785 shares of the semiconductor company’s stock valued at $21,968,000 after buying an additional 8,346 shares in the last quarter. Syntal Capital Partners LLC purchased a new position in Silicon Labs during the 4th quarter valued at about $4,256,000. SG Americas Securities LLC grew its holdings in Silicon Labs by 86.1% during the 4th quarter. SG Americas Securities LLC now owns 24,930 shares of the semiconductor company’s stock valued at $2,201,000 after buying an additional 11,537 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Silicon Labs by 52.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,479 shares of the semiconductor company’s stock valued at $219,000 after buying an additional 856 shares in the last quarter. Finally, Moody Aldrich Partners LLC grew its holdings in Silicon Labs by 23.4% during the 4th quarter. Moody Aldrich Partners LLC now owns 32,714 shares of the semiconductor company’s stock valued at $2,889,000 after buying an additional 6,204 shares in the last quarter. 89.35% of the stock is owned by institutional investors and hedge funds.

Silicon Labs 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, 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.

Analyst Recommendations for Silicon Labs (NASDAQ:SLAB)

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