Silicon Laboratories (NASDAQ:SLAB) Releases Q1 Earnings Guidance

Silicon Laboratories (NASDAQ:SLAB) updated its first quarter earnings guidance on Tuesday. The company provided EPS guidance of ($0.19)-0.01 for the period, compared to the consensus EPS estimate of ($0.09). The company issued revenue guidance of $175-180 million, compared to the consensus revenue estimate of $177.47 million.

Silicon Laboratories Price Performance

Silicon Laboratories stock opened at $123.80 on Wednesday. The company has a market cap of $4.02 billion, a price-to-earnings ratio of -20.84 and a beta of 1.15. The firm has a 50-day moving average of $138.71 and a 200-day moving average of $122.77. Silicon Laboratories has a one year low of $94.00 and a one year high of $160.00.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11). The firm had revenue of $166.25 million during the quarter, compared to analysts’ expectations of $166.09 million. Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The business’s quarterly revenue was up 91.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.19) earnings per share. As a group, sell-side analysts expect that Silicon Laboratories will post -0.97 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Barclays boosted their target price on shares of Silicon Laboratories from $75.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $150.00 price objective on shares of Silicon Laboratories in a research report on Wednesday. Susquehanna assumed coverage on Silicon Laboratories in a report on Tuesday, December 17th. They set a “neutral” rating and a $130.00 price target for the company. Benchmark reiterated a “buy” rating and issued a $160.00 price objective on shares of Silicon Laboratories in a report on Wednesday. Finally, KeyCorp increased their price objective on shares of Silicon Laboratories from $115.00 to $160.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $136.20.

Insider Activity at Silicon Laboratories

In other Silicon Laboratories news, Director William G. Bock sold 2,000 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $140.77, for a total transaction of $281,540.00. Following the transaction, the director now owns 32,115 shares in the company, valued at approximately $4,520,828.55. This represents a 5.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Navdeep S. Sooch sold 2,360 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total transaction of $351,640.00. Following the sale, the director now directly owns 400,567 shares of the company’s stock, valued at approximately $59,684,483. The trade was a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,360 shares of company stock valued at $782,610 in the last three months. Corporate insiders own 1.72% of the company’s stock.

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.