Today’s Market Runner: Does Silicon Laboratories Have More Gas After Touching 52-Week High?

Today's Market Runner: Does Silicon Laboratories Have More Gas After Touching 52 Week High?

The stock of Silicon Laboratories (NASDAQ:SLAB) hit a new 52-week high and has $69.77 target or 4.00% above today’s $67.09 share price. The 9 months bullish chart indicates low risk for the $2.81B company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $69.77 price target is reached, the company will be worth $112.40M 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 141,842 shares traded hands. Silicon Laboratories (NASDAQ:SLAB) has risen 48.36% since April 25, 2016 and is uptrending. It has outperformed by 42.35% the S&P500.

Analysts await Silicon Laboratories (NASDAQ:SLAB) to report earnings on February, 1. They expect $0.45 earnings per share, up 25.00% or $0.09 from last year’s $0.36 per share. SLAB’s profit will be $18.85M for 37.27 P/E if the $0.45 EPS becomes a reality. After $0.60 actual earnings per share reported by Silicon Laboratories for the previous quarter, Wall Street now forecasts -25.00% negative EPS growth.

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 of Silicon Laboratories (NASDAQ:SLAB) earned “Buy” rating by Stifel Nicolaus on Tuesday, November 24. M Partners downgraded the shares of SLAB in a report on Friday, September 25 to “Neutral” rating. The rating was initiated by Roth Capital on Thursday, September 29 with “Buy”. The company was maintained on Wednesday, July 29 by Topeka Capital Markets. Barclays Capital maintained the stock with “Equal Weight” rating in Thursday, July 30 report. The stock of Silicon Laboratories (NASDAQ:SLAB) earned “Market Perform” rating by William Blair on Thursday, October 29. The company was maintained on Monday, March 14 by M Partners. The firm earned “Buy” rating on Thursday, September 29 by TH Capital. The company was upgraded on Thursday, October 27 by M Partners. The firm has “Equal-Weight” rating given on Thursday, April 28 by Stephens.

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 Q2 2016. Its up 0.39, from 1.4 in 2016Q1. The ratio increased, 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.
Checchi Advisers Llc holds 102 shares or 0% of its portfolio. Blackrock Institutional Co Na accumulated 1.17 million shares or 0.01% of the stock. The Massachusetts-based Ngam Advsr Limited Partnership has invested 0.09% in Silicon Laboratories (NASDAQ:SLAB). Parallax Volatility Advisers L P has 0% invested in the company for 1,212 shares. State Treasurer State Of Michigan has invested 0.01% of its portfolio in Silicon Laboratories (NASDAQ:SLAB). State Street Corporation, a Massachusetts-based fund reported 1.36 million shares. Loomis Sayles Limited Partnership has 543,015 shares for 0.07% of their US portfolio. Us Bank De accumulated 913 shares or 0% of the stock. Federated Pa has invested 0% of its portfolio in Silicon Laboratories (NASDAQ:SLAB). Carlson Capital Limited Partnership accumulated 0.63% or 1.04M shares. Northern Tru has invested 0.01% of its portfolio in Silicon Laboratories (NASDAQ:SLAB). Global Investors accumulated 1.12 million shares or 0.02% of the stock. The Kansas-based Waddell & Reed Finance has invested 0.05% in Silicon Laboratories (NASDAQ:SLAB). Moreover, First Mercantile Tru has 0.03% invested in Silicon Laboratories (NASDAQ:SLAB) for 4,618 shares. Princeton Alpha Mgmt Limited Partnership holds 8,625 shares or 0.07% of its portfolio.

Insider Transactions: Since June 6, 2016, the stock had 0 insider purchases, and 14 sales for $16.32 million net activity. SOOCH NAVDEEP S also sold $1.10 million worth of Silicon Laboratories (NASDAQ:SLAB) shares. Tuttle George Tyson sold $314,954 worth of Silicon Laboratories (NASDAQ:SLAB) on Monday, September 12. BOCK WILLIAM G sold 3,000 shares worth $162,480. 14,386 Silicon Laboratories (NASDAQ:SLAB) shares with value of $927,897 were sold by Kumar Sandeep P. Shares for $240,000 were sold by LAZAR JACK R.

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 Fool.com with their article: “Silicon Laboratories Positions Itself for Internet-of-Things Growth” published on April 27, 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: Barrons.com and their article: “Silicon Labs Makes a Play for IoT Software” published on October 06, 2016 as well as Fool.com‘s news article titled: “Silicon Labs Turns In a Solid Beat” with publication date: July 27, 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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