Silicon Laboratories (NASDAQ:SLAB) Issues Q1 Earnings Guidance

Silicon Laboratories (NASDAQ:SLAB) updated its first quarter earnings guidance on Tuesday. The company provided EPS guidance of ($0.19)-0.01 for the period, compared to the consensus EPS estimate of ($0.09). The company issued revenue guidance of $175-180 million, compared to the consensus revenue estimate of $177.47 million.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SLAB. Barclays upped their target price on Silicon Laboratories from $75.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. Susquehanna started coverage on Silicon Laboratories in a report on Tuesday, December 17th. They set a “neutral” rating and a $130.00 price objective for the company. KeyCorp increased their price objective on Silicon Laboratories from $115.00 to $160.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. StockNews.com lowered Silicon Laboratories from a “hold” rating to a “sell” rating in a report on Friday, February 28th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $150.00 price objective on shares of Silicon Laboratories in a report on Wednesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Silicon Laboratories currently has an average rating of “Hold” and a consensus target price of $136.20.

Silicon Laboratories Stock Performance

Shares of SLAB opened at $121.68 on Thursday. The business’s 50-day moving average is $138.66 and its two-hundred day moving average is $122.76. The company has a market capitalization of $3.95 billion, a P/E ratio of -20.48 and a beta of 1.15. Silicon Laboratories has a fifty-two week low of $94.00 and a fifty-two week high of $160.00.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate of ($0.11). The company had revenue of $166.25 million for the quarter, compared to the consensus estimate of $166.09 million. Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The firm’s revenue for the quarter was up 91.4% compared to the same quarter last year. During the same period last year, the firm earned ($1.19) EPS. Analysts forecast that Silicon Laboratories will post -0.97 EPS for the current year.

Insiders Place Their Bets

In other news, Director Navdeep S. Sooch sold 2,360 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $149.00, for a total transaction of $351,640.00. Following the sale, the director now directly owns 400,567 shares of the company’s stock, valued at $59,684,483. This represents a 0.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William G. Bock sold 1,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $149.43, for a total transaction of $149,430.00. Following the sale, the director now directly owns 31,115 shares in the company, valued at approximately $4,649,514.45. The trade was a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,360 shares of company stock valued at $782,610. Company insiders own 1.72% of the company’s stock.

About Silicon Laboratories

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.