The stock of Silicon Laboratories (NASDAQ:SLAB) hit a new 52-week high and has $84.71 target or 27.00% above today’s $66.70 share price. The 8 months bullish chart indicates low risk for the $2.81B company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $84.71 price target is reached, the company will be worth $758.70 million 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 58,218 shares traded hands. Silicon Laboratories (NASDAQ:SLAB) has risen 50.00% since April 19, 2016 and is uptrending. It has outperformed by 46.14% the S&P500.
Silicon Laboratories (NASDAQ:SLAB) Ratings Coverage
Out of 11 analysts covering Silicon Labs (NASDAQ:SLAB), 8 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 73% are positive. Silicon Labs has been the topic of 20 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The stock has “Neutral” rating given by M Partners on Monday, March 14. TH Capital initiated the shares of SLAB in a report on Thursday, September 29 with “Buy” rating. The firm has “Buy” rating by M Partners given on Wednesday, July 29. The stock of Silicon Laboratories (NASDAQ:SLAB) earned “Equal Weight” rating by Barclays Capital on Thursday, July 30. Roth Capital initiated Silicon Laboratories (NASDAQ:SLAB) rating on Thursday, September 29. Roth Capital has “Buy” rating and $65 price target. The firm has “Buy” rating given on Wednesday, July 29 by Topeka Capital Markets. M Partners maintained it with “Neutral” rating and $50 target price in Wednesday, October 28 report. On Thursday, February 4 the stock rating was maintained by Topeka Capital Markets with “Buy”. M Partners downgraded the stock to “Neutral” rating in Friday, September 25 report. The stock of Silicon Laboratories (NASDAQ:SLAB) earned “Buy” rating by Drexel Hamilton on Wednesday, October 26.
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 1.79 in 2016 Q2. Its up 0.39, from 1.4 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.
Comerica Commercial Bank holds 0.01% or 27,579 shares in its portfolio. Ameriprise Financial owns 347,700 shares or 0.01% of their US portfolio. Rothschild Asset Inc last reported 0.23% of its portfolio in the stock. Blackrock Fund Advsr, a California-based fund reported 2.09 million shares. Hermes Investment Management Ltd accumulated 0.89% or 909,087 shares. Arizona State Retirement has 0.01% invested in the company for 16,665 shares. Manufacturers Life Ins Communication The holds 78,966 shares or 0.01% of its portfolio. Stevens Mngmt L P reported 11,178 shares or 0.02% of all its holdings. Granite Invest Prtn Ltd Liability Co has 0.06% invested in the company for 15,228 shares. Clinton Group Inc Incorporated Inc last reported 6,430 shares in the company. Amalgamated National Bank has invested 0.02% of its portfolio in Silicon Laboratories (NASDAQ:SLAB). Sei Invests Co last reported 0.01% of its portfolio in the stock. Davidson Invest Advsr last reported 1.14% of its portfolio in the stock. Alliancebernstein L P holds 0.03% or 647,644 shares in its portfolio. Blackrock Gru Ltd last reported 0% of its portfolio in the stock.
Insider Transactions: Since June 6, 2016, the stock had 0 insider buys, and 14 selling transactions for $16.32 million net activity. BOCK WILLIAM G had sold 3,000 shares worth $162,480. On Tuesday, November 15 Kumar Sandeep P sold $927,897 worth of the stock or 14,386 shares. Shares for $1.15 million were sold by SOOCH NAVDEEP S on Friday, August 19. Shares for $240,000 were sold by LAZAR JACK R on Wednesday, October 5. 5,761 Silicon Laboratories (NASDAQ:SLAB) shares with value of $314,954 were sold by Tuttle George Tyson.
More notable recent Silicon Laboratories (NASDAQ:SLAB) news were published by: Fool.com which released: “Silicon Laboratories Inc. Processes Another Great Quarter” on October 28, 2016, also Barrons.com with their article: “Silicon Labs Makes a Play for IoT Software” published on October 06, 2016, Fool.com published: “Silicon Laboratories Looks to the Internet of Things for Growth” on February 03, 2016. More interesting news about Silicon Laboratories (NASDAQ:SLAB) were released by: Fool.com and their article: “Silicon Labs Turns In a Solid Beat” published on July 27, 2016 as well as Bizjournals.com‘s news article titled: “Silicon Labs CEO: Company’s goal is to profit from connecting everything to web” with publication date: October 26, 2016.
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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