Silicon Laboratories (NASDAQ:SLAB) Announces Earnings Results

Silicon Laboratories (NASDAQ:SLAB) announced its quarterly earnings results on Monday. The semiconductor company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.07, Briefing.com reports. The company had revenue of $166.00 million for the quarter, compared to analyst estimates of $165.50 million. Silicon Laboratories had a negative net margin of 46.93% and a negative return on equity of 12.40%. Silicon Laboratories’s revenue for the quarter was down 18.5% on a year-over-year basis. During the same quarter last year, the business earned $0.48 EPS. 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 Stock Performance

Shares of NASDAQ SLAB traded up $7.32 during midday trading on Wednesday, reaching $111.78. 74,317 shares of the company’s stock were exchanged, compared to its average volume of 296,786. Silicon Laboratories has a 52-week low of $91.37 and a 52-week high of $154.91. The business’s fifty day moving average price is $112.29 and its two-hundred day moving average price is $115.48. The stock has a market capitalization of $3.61 billion, a PE ratio of -14.12 and a beta of 1.20.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SLAB shares. StockNews.com raised Silicon Laboratories to a “sell” rating in a research report on Wednesday, October 30th. Stifel Nicolaus dropped 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. Barclays reduced their price target on shares of Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Benchmark reissued a “hold” rating on shares of Silicon Laboratories in a research note on Tuesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $150.00 price target on shares of Silicon Laboratories in a research report on Thursday, July 25th. One investment 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $121.50.

Insider Activity at Silicon Laboratories

In other news, SVP Brandon Tolany sold 845 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 directly owns 43,615 shares in the company, valued at approximately $5,015,725. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.72% of the stock is currently owned by company insiders.

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.