Today’s Stock On Watch: Is Silicon Laboratories a Buy? The Stock Reaches 52-Week High Today

Today's Stock On Watch: Is Silicon Laboratories a Buy? The Stock Reaches 52 Week High Today

The stock of Silicon Laboratories (NASDAQ:SLAB) hit a new 52-week high and has $89.77 target or 52.00% above today’s $59.06 share price. The 5 months bullish chart indicates low risk for the $2.50 billion company. The 1-year high was reported on Sep, 30 by Barchart.com. If the $89.77 price target is reached, the company will be worth $1.30 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 299,645 shares traded hands or 20.33% up from the average. Silicon Laboratories (NASDAQ:SLAB) has risen 42.67% since February 26, 2016 and is uptrending. It has outperformed by 32.24% the S&P500.

Analysts await Silicon Laboratories (NASDAQ:SLAB) to report earnings on October, 26. They expect $0.42 EPS, up 13.51% or $0.05 from last year’s $0.37 per share. SLAB’s profit will be $17.78 million for 35.15 P/E if the $0.42 EPS becomes a reality. After $0.52 actual EPS reported by Silicon Laboratories for the previous quarter, Wall Street now forecasts -19.23% negative EPS growth.

Silicon Laboratories (NASDAQ:SLAB) Ratings Coverage

Out of 10 analysts covering Silicon Labs (NASDAQ:SLAB), 6 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 60% are positive. Silicon Labs has been the topic of 18 analyst reports since July 29, 2015 according to StockzIntelligence Inc. M Partners maintained Silicon Laboratories (NASDAQ:SLAB) rating on Monday, March 14. M Partners has “Neutral” rating and $49 price target. M Partners downgraded it to “Neutral” rating and $42 target price in Friday, September 25 report. The firm has “Equal Weight” rating given on Thursday, July 30 by Barclays Capital. The firm has “Buy” rating given on Thursday, September 29 by Roth Capital. The company was maintained on Thursday, February 4 by Topeka Capital Markets. The firm has “Market Perform” rating by William Blair given on Thursday, October 29. The stock has “Equal-Weight” rating given by Stephens on Thursday, April 28. M Partners maintained the shares of SLAB in a report on Wednesday, October 28 with “Neutral” rating. As per Tuesday, November 24, the company rating was maintained by Stifel Nicolaus. The firm has “Buy” rating by M Partners given on Wednesday, July 29.

According to Zacks Investment Research, “Silicon Laboratories Inc. design and develop proprietary, analog-intensive, mixed-signal integrated circuits for the rapidly growing communications industry. Mixed-signal integrated circuits are electronic components that convert real-world analog signals, such as sound and radio waves, into digital signals that electronic products can process. Mixed-signal integrated circuits are critical components of numerous communications products, including cellular telephones, cable and satellite set-top boxes, modems and fax machines.”

Insitutional Activity: The institutional sentiment increased to 1.4 in Q2 2016. Its up 0.27, from 1.13 in 2016Q1. The ratio improved, as 15 funds sold all Silicon Laboratories shares owned while 47 reduced positions. 16 funds bought stakes while 71 increased positions. They now own 35.94 million shares or 1.47% less from 36.47 million shares in 2016Q1.
Gemmer Asset Mgmt Limited Liability Corp holds 151 shares or 0% of its portfolio. Peak6 Invs Lp accumulated 5,722 shares or 0% of the stock. Ahl Prns Ltd Liability Partnership has invested 0.03% of its portfolio in Silicon Laboratories (NASDAQ:SLAB). Wells Fargo & Mn, a California-based fund reported 51,643 shares. Moreover, Cubist Systematic Strategies Ltd has 0.02% invested in Silicon Laboratories (NASDAQ:SLAB) for 7,842 shares. Grandeur Peak Glob Limited Liability Company reported 146,890 shares or 1.32% of all its holdings. Mutual Of America Cap Limited Liability Corporation owns 28,906 shares or 0.03% of their US portfolio. Assetmark accumulated 0% or 7 shares. Ranger Mngmt Lp accumulated 1.5% or 498,560 shares. Parametric Assocs Llc holds 0.01% of its portfolio in Silicon Laboratories (NASDAQ:SLAB) for 105,742 shares. Cim Mangement Inc owns 7,598 shares or 0.15% of their US portfolio. Cohen Klingenstein Limited Liability Company last reported 11,924 shares in the company. The New York-based Clinton Gp Inc has invested 0.01% in Silicon Laboratories (NASDAQ:SLAB). The Pennsylvania-based Federated Invsts Pa has invested 0% in Silicon Laboratories (NASDAQ:SLAB). Ls Investment Limited Liability Corporation has 2,336 shares for 0.01% of their US portfolio.

Insider Transactions: Since June 6, 2016, the stock had 0 insider buys, and 7 insider sales for $7.95 million net activity. 4,000 shares were sold by LAZAR JACK R, worth $223,680 on Thursday, September 15. BOCK WILLIAM G sold $149,342 worth of stock. 4,200 Silicon Laboratories (NASDAQ:SLAB) shares with value of $231,000 were sold by SOOCH NAVDEEP S. Another trade for 5,761 shares valued at $314,954 was sold by Tuttle George Tyson.

More recent Silicon Laboratories (NASDAQ:SLAB) news were published by: Fool.com which released: “Silicon Laboratories Positions Itself for Internet-of-Things Growth” on April 27, 2016. Also Fool.com published the news titled: “Silicon Labs Turns In a Solid Beat” on July 27, 2016. Patch.com‘s news article titled: “Silicon Laboratories Employees Volunteer with Habitat for Humanity” with publication date: September 16, 2016 was also an interesting one.

SLAB Company Profile

Silicon Laboratories Inc., incorporated on August 19, 1996, is a well-known provider of silicon, software and solutions for the Internet of things (IoT), Internet infrastructure, industrial control, consumer and automotive markets. The Firm provides clients with advantages in performance, energy savings, connectivity and design simplicity. It provides developers with the tools and technologies they need to advance from initial idea to final product. The Firm operates through mixed-signal analog intensive products, consisting of numerous product areas segment. The Firm provides analog-intensive, mixed-signal solutions for use in a range of electronic products in various applications for the IoT market, including connected home, smart lighting, security, wearables and smart energy applications.

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