William Blair Research Analysts Increase Earnings Estimates for Silicon Laboratories, Inc. (SLAB)
Silicon Laboratories, Inc. (NASDAQ:SLAB) – Analysts at William Blair lifted their FY2017 earnings per share estimates for shares of Silicon Laboratories in a research note issued to investors on Wednesday. William Blair analyst A. Doradla now anticipates that the semiconductor company will earn $2.26 per share for the year, up from their prior estimate of $2.16. William Blair also issued estimates for Silicon Laboratories’ FY2018 earnings at $2.56 EPS.
Silicon Laboratories (NASDAQ:SLAB) last issued its earnings results on Wednesday, October 25th. The semiconductor company reported $0.90 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.09. The firm had revenue of $198.70 million for the quarter, compared to analyst estimates of $196.20 million. Silicon Laboratories had a return on equity of 11.06% and a net margin of 9.60%. The business’s revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.77 earnings per share. TRADEMARK VIOLATION WARNING: “William Blair Research Analysts Increase Earnings Estimates for Silicon Laboratories, Inc. (SLAB)” was reported by TheOlympiaReport and is owned by of TheOlympiaReport. If you are reading this news story on another publication, it was copied illegally and republished in violation of international copyright law. The original version of this news story can be viewed at https://theolympiareport.com/2017/10/31/william-blair-research-analysts-increase-earnings-estimates-for-silicon-laboratories-inc-slab.html.
SLAB has been the topic of a number of other reports. Zacks Investment Research cut Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, September 27th. Stifel Nicolaus raised their target price on Silicon Laboratories from $85.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, October 12th. Needham & Company LLC raised their target price on Silicon Laboratories from $85.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. Roth Capital raised their target price on Silicon Laboratories from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, October 24th. Finally, Barclays PLC reaffirmed a “neutral” rating on shares of Silicon Laboratories in a report on Friday. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $98.89.
Shares of Silicon Laboratories (NASDAQ SLAB) opened at 93.40 on Monday. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of 55.69 and a beta of 1.28. The firm has a 50 day moving average price of $83.76 and a 200 day moving average price of $75.67. Silicon Laboratories has a 52 week low of $58.35 and a 52 week high of $94.40.
A number of large investors have recently bought and sold shares of SLAB. BlackRock Inc. raised its holdings in Silicon Laboratories by 25,072.0% during the first quarter. BlackRock Inc. now owns 4,558,402 shares of the semiconductor company’s stock valued at $335,271,000 after acquiring an additional 4,540,293 shares during the period. Bank of New York Mellon Corp raised its holdings in Silicon Laboratories by 62.3% during the second quarter. Bank of New York Mellon Corp now owns 841,592 shares of the semiconductor company’s stock valued at $57,523,000 after acquiring an additional 323,123 shares during the period. Vanguard Group Inc. raised its holdings in Silicon Laboratories by 5.1% during the first quarter. Vanguard Group Inc. now owns 3,292,023 shares of the semiconductor company’s stock valued at $242,129,000 after acquiring an additional 160,997 shares during the period. GW&K Investment Management LLC raised its holdings in Silicon Laboratories by 34.2% during the second quarter. GW&K Investment Management LLC now owns 484,826 shares of the semiconductor company’s stock valued at $33,138,000 after acquiring an additional 123,637 shares during the period. Finally, Pier Capital LLC bought a new stake in Silicon Laboratories during the second quarter valued at about $5,274,000. 89.10% of the stock is currently owned by institutional investors and hedge funds.
In other Silicon Laboratories news, CFO John C. Hollister sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $88.45, for a total transaction of $176,900.00. Following the sale, the chief financial officer now directly owns 64,767 shares of the company’s stock, valued at $5,728,641.15. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William P. Wood sold 5,000 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $76.35, for a total value of $381,750.00. Following the sale, the director now directly owns 30,526 shares in the company, valued at $2,330,660.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,500 shares of company stock worth $3,841,079. Insiders own 34.82% of the company’s stock.
Silicon Laboratories Company Profile
Silicon Laboratories Inc is a provider of silicon, software and solutions for the Internet of Things (IoT), Internet infrastructure, industrial, consumer and automotive markets. The Company operates through mixed-signal analog intensive products segment. It provides analog-intensive, mixed-signal solutions for use in a range of electronic products in various applications for the IoT market.
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