Silicon Laboratories (NASDAQ:SLAB) Posts Quarterly Earnings Results, Beats Estimates By $0.07 EPS

by · The Markets Daily

Silicon Laboratories (NASDAQ:SLAB – Get Free Report) released its quarterly earnings data on Monday. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.07, Briefing.com reports. Silicon Laboratories had a negative net margin of 46.93% and a negative return on equity of 12.40%. The company had revenue of $166.00 million for the quarter, compared to analysts’ expectations of $165.50 million. During the same quarter in the prior year, the firm earned $0.48 EPS. The business’s revenue was down 18.5% on a year-over-year basis. Silicon Laboratories updated its Q4 guidance to ($0.21)-($0.01) EPS and its Q4 2024 guidance to -0.210–0.010 EPS.

Silicon Laboratories Trading Up 10.8 %

Shares of SLAB traded up $11.24 on Wednesday, reaching $115.70. 690,998 shares of the company’s stock traded hands, compared to its average volume of 299,747. The stock’s 50 day simple moving average is $112.29 and its two-hundred day simple moving average is $115.48. The stock has a market cap of $3.74 billion, a PE ratio of -14.12 and a beta of 1.20. Silicon Laboratories has a 52-week low of $91.37 and a 52-week high of $154.91.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. StockNews.com raised Silicon Laboratories to a “sell” rating in a research note on Wednesday, October 30th. Benchmark restated a “hold” rating on shares of Silicon Laboratories in a research note on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $150.00 price objective on shares of Silicon Laboratories in a research note on Thursday, July 25th. Stifel Nicolaus decreased their target price on shares of Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, KeyCorp dropped their price target on shares of Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Silicon Laboratories currently has a consensus rating of “Hold” and an average price target of $121.50.

Check Out Our Latest Research Report on SLAB

Insiders Place Their Bets

In related news, SVP Brandon Tolany sold 845 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $115.00, for a total transaction of $97,175.00. Following the completion of the transaction, the senior vice president now owns 43,615 shares in the company, valued at approximately $5,015,725. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.72% of the company’s stock.

Silicon Laboratories Company Profile

(Get Free Report)

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.

Further Reading