Silicon Laboratories, Inc. (SLAB) Expected to Announce Quarterly Sales of $196.00 Million
Equities analysts expect Silicon Laboratories, Inc. (NASDAQ:SLAB) to post $196.00 million in sales for the current fiscal quarter, according to Zacks Investment Research. 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 company is expected to issue its next earnings results on Wednesday, October 25th.
According to Zacks, analysts expect that Silicon Laboratories will report full year sales of $196.00 million for the current financial year, with estimates ranging from $753.40 million to $763.12 million. For the next financial year, analysts anticipate that the firm will post 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 research analysts that follow Silicon Laboratories.
Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.08. The firm had revenue of $190.10 million during the quarter, compared to the consensus estimate of $186.46 million. Silicon Laboratories had a return on equity of 11.15% and a net margin of 9.88%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the company posted $0.75 EPS.
Several analysts have weighed in on the company. B. Riley reiterated a “buy” rating and issued a $81.00 price objective on shares of Silicon Laboratories in a research report on Tuesday, May 2nd. Zacks Investment Research downgraded Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, August 25th. Stifel Nicolaus reiterated a “buy” rating and issued a $85.00 price objective (up previously from $82.00) on shares of Silicon Laboratories in a research report on Thursday, July 27th. BidaskClub upgraded Silicon Laboratories from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $85.00 price objective (up previously from $80.00) on shares of Silicon Laboratories in a research report on Thursday, July 27th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Silicon Laboratories has an average rating of “Buy” and a consensus target price of $80.10.
Shares of Silicon Laboratories (NASDAQ SLAB) traded up 1.16% during mid-day trading on Wednesday, hitting $74.30. The stock had a trading volume of 25,262 shares. The stock’s 50-day moving average is $73.06 and its 200 day moving average is $72.23. The company has a market cap of $3.16 billion, a PE ratio of 44.31 and a beta of 1.25. Silicon Laboratories has a 12 month low of $54.30 and a 12 month high of $79.15.
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In related news, CEO George Tyson Tuttle sold 75,000 shares of the company’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $74.89, for a total value of $5,616,750.00. Following the sale, the chief executive officer now directly owns 208,592 shares of the company’s stock, valued at $15,621,454.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO John C. Hollister sold 2,000 shares of the company’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $71.20, for a total value of $142,400.00. Following the completion of the sale, the chief financial officer now directly owns 72,767 shares in the company, valued at $5,181,010.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,000 shares of company stock worth $7,515,875. 34.82% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of SLAB. State Treasurer State of Michigan boosted its stake 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. Vanguard Group Inc. boosted its stake 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. Geneva Advisors LLC bought a new stake in Silicon Laboratories during the first quarter worth approximately $634,000. BlackRock Inc. boosted its stake in Silicon Laboratories by 25,072.0% in the first quarter. BlackRock Inc. now owns 4,558,402 shares of the semiconductor company’s stock worth $335,271,000 after buying an additional 4,540,293 shares in the last quarter. Finally, Profund Advisors LLC boosted its stake 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. 89.01% of the stock is currently owned by institutional investors.
Silicon Laboratories Company Profile
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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