Citigroup Maintains Silicon Laboratories to Buy with Price Target $63.00

Brokerage firm Citigroup Maintains its rating on Silicon Laboratories(NASDAQ:SLAB). In a research note issued to the investors, the brokerage major Raises the price-target to $63.00 per share. The shares have been rated Buy. The rating by Citigroup was issued on Jul 28, 2016.

Silicon Laboratories (SLAB) made into the market gainers list on Thursdays trading session with the shares advancing 0.38% or 0.2 points. Due to strong positive momentum, the stock ended at $53, which is also near the day’s high of $53.37. The stock began the session at $52.9 and the volume stood at 2,13,712 shares. The 52-week high of the shares is $55.04 and the 52 week low is $36.56. The company has a current market capitalization of $2,205 M and it has 4,15,97,040 shares in outstanding.

Silicon Laboratories(SLAB) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $174.91M. Analysts had an estimated revenue of $170.52M. Earnings per share were $0.75. Analysts had estimated an EPS of $0.64.

Several Insider Transactions has been reported to the SEC. On Jun 22, 2016, John C Hollister (Sr VP and CFO) sold 4,000 shares at $50.00 per share price.Also, On Jun 7, 2016, William G Bock (director) sold 3,000 shares at $49.78 per share price.On Nov 5, 2015, William P Wood (director) sold 5,000 shares at $50.25 per share price, according to the Form-4 filing with the securities and exchange commission.

Silicon Laboratories Inc. is a provider of silicon software and solutions for the Internet of things (IoT) Internet infrastructure industrial control consumer and automotive markets. The Company provides customers 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 Company operates through mixed-signal analog intensive products consisting of numerous product areas segment. It serves IoT market including connected home smart lighting and smart energy applications. It provides a range of timing and isolation products for infrastructure applications including high-performance clocks and oscillators. It also provides broadcast products such as television tuners and demodulators and automotive radio tuners and access products including subscriber line interface circuits for voice over Internet Protocol and embedded modems.

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