Silicon Laboratories (NASDAQ:SLAB) Releases Earnings Results

Silicon Laboratories (NASDAQ:SLAB) released its quarterly earnings data on Wednesday. The semiconductor company reported ($0.56) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.08, Briefing.com reports. Silicon Laboratories had a negative net margin of 16.36% and a negative return on equity of 4.45%. The firm had revenue of $145.40 million for the quarter, compared to analysts’ expectations of $140.18 million. During the same quarter in the previous year, the company earned $0.59 earnings per share. The company’s revenue for the quarter was down 40.6% compared to the same quarter last year. Silicon Laboratories updated its Q3 guidance to ($0.10)-($0.30) EPS and its Q3 2024 guidance to -0.300–0.100 EPS.

Silicon Laboratories Trading Up 1.0 %

SLAB traded up $1.18 during midday trading on Thursday, reaching $116.61. The company’s stock had a trading volume of 667,556 shares, compared to its average volume of 316,903. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of -35.23 and a beta of 1.20. Silicon Laboratories has a 1 year low of $74.56 and a 1 year high of $154.91. The stock’s 50-day moving average is $118.70 and its 200-day moving average is $126.53.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Citigroup decreased their price objective on shares of Silicon Laboratories from $137.00 to $120.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. JPMorgan Chase & Co. decreased their price objective on shares of Silicon Laboratories from $165.00 to $150.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. Summit Insights cut shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Benchmark reiterated a “hold” rating on shares of Silicon Laboratories in a research report on Thursday, April 25th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $150.00 price target on shares of Silicon Laboratories in a research report on Thursday. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $135.00.

Insiders Place Their Bets

In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 7,230 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $123.80, for a total value of $895,074.00. Following the sale, the chief executive officer now owns 47,910 shares in the company, valued at $5,931,258. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.72% of the company’s stock.

Silicon Laboratories Company Profile

Silicon Laboratories Inc, a fabless semiconductor company, provides various analog-intensive mixed-signal solutions in the United States, China, Taiwan, and internationally. The company's products include wireless microcontrollers and sensor products. Its products are used in various electronic products in a range of applications for the industrial Internet of Things (IoT), including industrial automation and control, smart buildings, access control, HVAC control, and industrial wearables and power tools; smart cities applications, such as smart metering, smart street lighting, renewable energy, electric vehicle supply equipment, and smart agriculture; commercial IoT applications, including smart lighting, asset tracking, electronic shelf labels, theft protection, and enterprise access points; smart home applications, comprising home automation/security systems, smart speakers, smart lighting, HVAC control, smart cameras, smart appliances, smart home sensing, smart locks, and window/blind controls; and connected health applications, including diabetes management, consumer health and fitness, elderly care, patient monitoring, and activity tracking; as well as in commercial building automation, consumer electronics, and medical instrumentation.