Silicon Laboratories (NASDAQ:SLAB) Issues Earnings Results, Beats Expectations By $0.12 EPS

Silicon Laboratories (NASDAQ:SLAB) issued its earnings results on Wednesday. The semiconductor company reported $0.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.12, Briefing.com reports. The firm had revenue of $223.30 million during the quarter, compared to analysts’ expectations of $217.97 million. Silicon Laboratories had a net margin of 3.84% and a return on equity of 9.97%. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period last year, the firm posted $1.01 earnings per share. Silicon Laboratories updated its Q4 2019 guidance to $0.84-0.94 EPS and its Q4 guidance to $0.84-0.94 EPS.

Shares of NASDAQ:SLAB traded down $0.89 during mid-day trading on Thursday, hitting $109.32. The stock had a trading volume of 130,975 shares, compared to its average volume of 287,835. The company has a debt-to-equity ratio of 0.34, a quick ratio of 5.91 and a current ratio of 6.47. The company has a market cap of $4.63 billion, a PE ratio of 38.22, a P/E/G ratio of 3.23 and a beta of 1.52. Silicon Laboratories has a 12-month low of $73.13 and a 12-month high of $115.29. The company’s 50 day moving average is $110.64 and its 200-day moving average is $103.54.

A number of brokerages recently weighed in on SLAB. TheStreet cut shares of Silicon Laboratories from a “b” rating to a “c+” rating in a report on Wednesday, July 24th. ValuEngine cut shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Benchmark began coverage on shares of Silicon Laboratories in a report on Tuesday, July 23rd. They set a “buy” rating and a $120.00 target price for the company. Roth Capital raised their target price on shares of Silicon Laboratories from $120.00 to $130.00 in a report on Thursday, July 25th. Finally, Zacks Investment Research cut shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $109.70.

In other Silicon Laboratories news, SVP Brandon Tolany sold 1,000 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $113.94, for a total value of $113,940.00. Following the completion of the sale, the senior vice president now owns 48,758 shares in the company, valued at approximately $5,555,486.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO John C. Hollister sold 10,000 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $110.00, for a total transaction of $1,100,000.00. Following the completion of the sale, the chief financial officer now owns 69,423 shares of the company’s stock, valued at approximately $7,636,530. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,813 shares of company stock valued at $5,472,005. 2.10% of the stock is owned by insiders.

About Silicon Laboratories

Silicon Laboratories Inc, a fabless semiconductor company, designs, develops, and markets mixed-signal integrated circuits (ICs) in the United States, China, and internationally. The company offers Internet of things products, including 8-bit mixed-signal, 32-bit wireless, and ultra-low-power 32-bit microcontrollers; wireless connectivity devices, such as multiprotocol wireless Gecko system-on-chip devices; real-time operating systems; sensor products comprising optical, relative humidity/temperature, and hall effect magnetic sensors.

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Earnings History for Silicon Laboratories (NASDAQ:SLAB)

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