Zacks Investment Research downgraded shares of Silicon Laboratories (NASDAQ:SLAB) from a buy rating to a hold rating in a report published on Tuesday morning.

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 subject of several other reports. Loop Capital reduced their price target on Silicon Laboratories to $110.00 and set a hold rating for the company in a report on Thursday, July 26th. Needham & Company LLC restated a buy rating and set a $115.00 price target on shares of Silicon Laboratories in a report on Thursday, April 26th. Roth Capital lifted their price objective on Silicon Laboratories from $110.00 to $125.00 and gave the stock a buy rating in a report on Monday, June 11th. Cowen began coverage on Silicon Laboratories in a report on Thursday, May 17th. They issued an outperform rating and a $125.00 price objective for the company. Finally, BidaskClub upgraded Silicon Laboratories from a buy rating to a strong-buy rating in a report on Saturday, May 5th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $112.73.

Shares of NASDAQ:SLAB opened at $95.35 on Tuesday. Silicon Laboratories has a 1-year low of $71.75 and a 1-year high of $110.70. The company has a quick ratio of 4.95, a current ratio of 5.58 and a debt-to-equity ratio of 0.34. The firm has a market cap of $4.15 billion, a PE ratio of 40.57, a P/E/G ratio of 2.30 and a beta of 1.49.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings results on Wednesday, July 25th. The semiconductor company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.08. Silicon Laboratories had a return on equity of 11.90% and a net margin of 6.78%. The firm had revenue of $217.10 million during the quarter, compared to the consensus estimate of $214.24 million. During the same period last year, the company earned $0.79 earnings per share. The company’s revenue was up 14.2% on a year-over-year basis. sell-side analysts predict that Silicon Laboratories will post 2.78 EPS for the current fiscal year.

In related news, Director William G. Bock sold 1,000 shares of Silicon Laboratories stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $94.50, for a total value of $94,500.00. Following the completion of the sale, the director now directly owns 40,751 shares in the company, valued at approximately $3,850,969.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO John C. Hollister sold 10,000 shares of Silicon Laboratories stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $106.76, for a total value of $1,067,600.00. Following the completion of the sale, the chief financial officer now owns 68,692 shares of the company’s stock, valued at $7,333,557.92. The disclosure for this sale can be found here. Insiders sold a total of 34,470 shares of company stock valued at $3,545,312 over the last quarter. 1.96% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SLAB. FMR LLC boosted its position in Silicon Laboratories by 1.2% in the second quarter. FMR LLC now owns 6,484,660 shares of the semiconductor company’s stock worth $645,872,000 after purchasing an additional 75,633 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Silicon Laboratories by 0.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 798,289 shares of the semiconductor company’s stock worth $71,766,000 after purchasing an additional 2,016 shares during the last quarter. Van Berkom & Associates Inc. boosted its position in Silicon Laboratories by 0.7% in the second quarter. Van Berkom & Associates Inc. now owns 722,082 shares of the semiconductor company’s stock worth $71,919,000 after purchasing an additional 4,951 shares during the last quarter. Hermes Investment Management Ltd. boosted its position in Silicon Laboratories by 2.6% in the second quarter. Hermes Investment Management Ltd. now owns 707,061 shares of the semiconductor company’s stock worth $70,423,000 after purchasing an additional 17,933 shares during the last quarter. Finally, GW&K Investment Management LLC boosted its position in Silicon Laboratories by 2.2% in the first quarter. GW&K Investment Management LLC now owns 685,780 shares of the semiconductor company’s stock worth $61,652,000 after purchasing an additional 14,750 shares during the last quarter. Institutional investors own 89.01% of the company’s stock.

About Silicon Laboratories

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.

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