$196.00 Million in Sales Expected for Silicon Laboratories, Inc. (SLAB) This Quarter
Brokerages expect Silicon Laboratories, Inc. (NASDAQ:SLAB) to announce sales of $196.00 million for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Silicon Laboratories’ earnings, with the highest sales estimate coming in at $196.50 million and the lowest estimate coming in at $195.50 million. Silicon Laboratories reported sales of $178.08 million during the same quarter last year, which indicates a positive year over year growth rate of 10.1%. The business is scheduled to issue its next quarterly earnings results on Wednesday, October 25th.
On average, analysts expect that Silicon Laboratories will report full year sales of $196.00 million for the current fiscal year, with estimates ranging from $753.40 million to $763.12 million. For the next financial year, analysts expect that the business will report sales of $822.14 million per share, with estimates ranging from $816.60 million to $828.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Silicon Laboratories.
Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results on Wednesday, July 26th. The semiconductor company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.08. Silicon Laboratories had a net margin of 9.88% and a return on equity of 11.15%. The company had revenue of $190.10 million during the quarter, compared to analyst estimates of $186.46 million. During the same period in the previous year, the business earned $0.75 earnings per share. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year.
A number of analysts have issued reports on SLAB shares. Canaccord Genuity reiterated a “buy” rating and issued a $83.00 price target on shares of Silicon Laboratories in a report on Thursday, April 27th. B. Riley reiterated a “buy” rating and issued a $81.00 price target on shares of Silicon Laboratories in a report on Wednesday, April 26th. DA Davidson lifted their price target on shares of Silicon Laboratories from $80.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, April 26th. BidaskClub downgraded shares of Silicon Laboratories from a “strong-buy” rating to a “buy” rating in a report on Friday, June 16th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $82.00 price target on shares of Silicon Laboratories in a report on Tuesday, June 6th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $80.70.
Silicon Laboratories (NASDAQ SLAB) opened at 74.10 on Friday. The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of 44.19 and a beta of 1.25. Silicon Laboratories has a 12 month low of $52.00 and a 12 month high of $79.15. The company has a 50-day moving average of $71.42 and a 200 day moving average of $71.78.
In related news, CEO George Tyson Tuttle sold 75,000 shares of Silicon Laboratories stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $74.89, for a total transaction of $5,616,750.00. Following the completion of the transaction, the chief executive officer now directly owns 208,592 shares of the company’s stock, valued at approximately $15,621,454.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William P. Wood sold 5,000 shares of Silicon Laboratories stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $76.35, for a total transaction of $381,750.00. Following the transaction, the director now directly owns 30,526 shares of the company’s stock, valued at $2,330,660.10. The disclosure for this sale can be found here. Insiders sold a total of 98,500 shares of company stock valued at $7,322,125 over the last three months. Corporate insiders own 34.82% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. State Treasurer State of Michigan boosted its position in Silicon Laboratories by 1.2% in the first quarter. State Treasurer State of Michigan now owns 17,000 shares of the semiconductor company’s stock worth $1,250,000 after buying an additional 200 shares in the last quarter. Geneva Advisors LLC purchased a new position in Silicon Laboratories during the first quarter worth approximately $634,000. Capstone Asset Management Co. purchased a new position in Silicon Laboratories during the first quarter worth approximately $222,000. Profund Advisors LLC boosted its position in Silicon Laboratories by 10.0% in the first quarter. Profund Advisors LLC now owns 14,242 shares of the semiconductor company’s stock worth $1,047,000 after buying an additional 1,296 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Silicon Laboratories by 5.1% in the first quarter. Vanguard Group Inc. now owns 3,292,023 shares of the semiconductor company’s stock worth $242,129,000 after buying an additional 160,997 shares in the last quarter. 88.64% of the stock is owned by hedge funds and other institutional investors.
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About Silicon Laboratories
Silicon Laboratories Inc is a provider of silicon, software and solutions for the Internet of Things (IoT), Internet infrastructure, industrial, consumer and automotive markets. The Company operates through mixed-signal analog intensive products segment. It provides analog-intensive, mixed-signal solutions for use in a range of electronic products in various applications for the IoT market.
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