Silicon Laboratories (NASDAQ:SLAB) Announces Earnings Results

Silicon Laboratories (NASDAQ:SLAB) announced its quarterly earnings results on Tuesday. The semiconductor company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02, FiscalAI reports. Silicon Laboratories had a negative net margin of 6.13% and a negative return on equity of 2.18%. The business had revenue of $228.19 million for the quarter, compared to analysts’ expectations of $227.99 million. During the same quarter in the previous year, the company earned $0.11 EPS. The business’s quarterly revenue was up 18.3% compared to the same quarter last year.

Silicon Laboratories Trading Up 0.2%

SLAB stock opened at $218.94 on Wednesday. Silicon Laboratories has a 12 month low of $115.50 and a 12 month high of $220.90. The company has a 50-day moving average price of $218.30 and a 200 day moving average price of $208.83. The stock has a market cap of $7.22 billion, a PE ratio of -143.10 and a beta of 1.37.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Wednesday, June 24th. Five analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $218.00.

Insider Transactions at Silicon Laboratories

In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 8,024 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $216.83, for a total value of $1,739,843.92. Following the completion of the sale, the chief executive officer owned 80,519 shares of the company’s stock, valued at $17,458,934.77. This trade represents a 9.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Silicon Laboratories

Large investors have recently bought and sold shares of the business. AQR Capital Management LLC grew its holdings in shares of Silicon Laboratories by 43.7% in the first quarter. AQR Capital Management LLC now owns 17,892 shares of the semiconductor company’s stock worth $2,001,000 after purchasing an additional 5,439 shares during the last quarter. Millennium Management LLC grew its holdings in Silicon Laboratories by 2,804.1% in the first quarter. Millennium Management LLC now owns 99,842 shares of the semiconductor company’s stock worth $11,239,000 after purchasing an additional 96,404 shares during the last quarter. Jones Financial Companies Lllp increased its position in Silicon Laboratories by 121.4% during the 1st quarter. Jones Financial Companies Lllp now owns 496 shares of the semiconductor company’s stock valued at $56,000 after buying an additional 272 shares in the last quarter. United Services Automobile Association acquired a new position in shares of Silicon Laboratories during the first quarter valued at about $235,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Silicon Laboratories by 1.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 97,156 shares of the semiconductor company’s stock valued at $10,937,000 after purchasing an additional 1,679 shares in the last quarter.

Silicon Laboratories Company Profile

Silicon Laboratories (NASDAQ:SLAB) is a global semiconductor company that develops high-performance analog and mixed-signal integrated circuits, wireless system-on-chips (SoCs), microcontrollers, and radio frequency (RF) solutions. Its product portfolio is tailored to support the Internet of Things (IoT), infrastructure, industrial automation, consumer electronics, automotive, and energy markets. By combining silicon, software, and tools, Silicon Labs aims to accelerate development cycles and deliver low-power, highly integrated solutions that address demanding application requirements.

Founded in 1996 and headquartered in Austin, Texas, Silicon Labs has grown into a multinational organization with engineering and sales operations across North America, Europe, and Asia.