Silicon Laboratories Rating Increased to Buy at Lazard Capital (SLAB)
Silicon Laboratories (NASDAQ: SLAB) was upgraded by investment analysts at Lazard Capital from a “neutral” rating to a “buy” rating in a note issued to investors on Friday.
Shares of Silicon Laboratories traded up 1.22% during mid-day trading on Friday, hitting $35.60. Silicon Laboratories has a one year low of $30.36 and a one year high of $48.50. The company has a market cap of $1.504 billion and a P/E ratio of 44.52.
The company last announced its quarterly results on Wednesday, April 25th. It reported $0.43 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.41 EPS by $0.02. The company’s quarterly revenue was up 5.1% on a year-over-year basis. On average, analysts predict that Silicon Laboratories will post $0.55 earnings per share next quarter.
Other equities research analysts have also recently issued reports about the stock. Analysts at UBS AG (NYSE: UBS) reiterated a “buy” rating on shares of Silicon Laboratories in a research note to investors on Thursday. Separately, analysts at Citigroup (NYSE: C) upgraded shares of Silicon Laboratories from a “neutral” rating to a “buy” rating in a research note to investors on Thursday. They now have a $43.00 price target on the stock. Finally, analysts at Credit Agricole downgraded shares of Silicon Laboratories from an “outperform” rating to an “underperform” rating in a research note to investors on Thursday.
Silicon Laboratories Inc. designs and develops analog-intensive, mixed-signal integrated circuits (ICs) for a range of applications.