Silicon Laboratories (NASDAQ:SLAB) Issues Earnings Results, Beats Expectations By $0.07 EPS

Silicon Laboratories (NASDAQ:SLAB) released its quarterly earnings data on Monday. The semiconductor company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.07, Briefing.com reports. The business had revenue of $166.00 million for the quarter, compared to the consensus estimate of $165.50 million. Silicon Laboratories had a negative net margin of 46.93% and a negative return on equity of 12.40%. The company’s revenue was down 18.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.48 earnings per share. 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 during trading hours on Wednesday, reaching $115.70. 690,998 shares of the company’s stock traded hands, compared to its average volume of 299,747. Silicon Laboratories has a 12 month low of $91.37 and a 12 month high of $154.91. The stock has a market cap of $3.74 billion, a PE ratio of -14.12 and a beta of 1.20. The firm’s 50 day simple moving average is $112.29 and its 200-day simple moving average is $115.48.

Analysts Set New Price Targets

A number of analysts recently commented on SLAB shares. Morgan Stanley dropped their price target on shares of Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. dropped their target price on Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday. Barclays reduced their price target on Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating for the company in a research report on Tuesday. Stifel Nicolaus dropped their price objective on Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, KeyCorp reduced their target price on Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating for the company in a report on Tuesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $121.50.

Insider Buying and Selling

In other Silicon Laboratories news, SVP Brandon Tolany sold 845 shares of Silicon Laboratories stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 43,615 shares in the company, valued at $5,015,725. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.72% of the stock is 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.