Silicon Laboratories (NASDAQ:SLAB) Posts Earnings Results, Beats Estimates By $0.08 EPS

Silicon Laboratories (NASDAQ:SLAB) issued its quarterly earnings data on Wednesday. The semiconductor company reported ($0.56) EPS for the quarter, beating the consensus estimate of ($0.64) by $0.08, Briefing.com reports. Silicon Laboratories had a negative return on equity of 9.13% and a negative net margin of 36.53%. The firm had revenue of $145.40 million during the quarter, compared to analyst estimates of $140.18 million. During the same quarter in the prior year, the business posted $0.59 EPS. The business’s revenue for the quarter was down 40.6% compared to the same quarter last year. Silicon Laboratories updated its Q3 guidance to ($0.10)-($0.30) EPS and its Q3 2024 guidance to -0.300–0.100 EPS.

Silicon Laboratories Price Performance

Shares of Silicon Laboratories stock opened at $116.61 on Friday. The stock has a market cap of $3.72 billion, a PE ratio of -35.23 and a beta of 1.20. The firm has a fifty day moving average price of $118.70 and a 200 day moving average price of $126.53. Silicon Laboratories has a 1 year low of $74.56 and a 1 year high of $154.91.

Analysts Set New Price Targets

SLAB has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $150.00 price target on shares of Silicon Laboratories in a research note on Thursday. Benchmark reaffirmed a “hold” rating on shares of Silicon Laboratories in a research report on Thursday, April 25th. Barclays dropped their target price on shares of Silicon Laboratories from $140.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 25th. TD Cowen decreased their price target on shares of Silicon Laboratories from $155.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Finally, StockNews.com raised shares of Silicon Laboratories to a “sell” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, Silicon Laboratories presently has a consensus rating of “Hold” and a consensus target price of $135.00.

Insider Buying and Selling at Silicon Laboratories

In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 7,230 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $123.80, for a total transaction of $895,074.00. Following the sale, the chief executive officer now directly owns 47,910 shares of the company’s stock, valued at approximately $5,931,258. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.72% of the stock is owned by corporate 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.