Silicon Laboratories (NASDAQ:SLAB) Issues Quarterly Earnings Results

Silicon Laboratories (NASDAQ:SLAB) announced its quarterly earnings data on Tuesday. The semiconductor company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.21, FiscalAI reports. Silicon Laboratories had a negative net margin of 4.57% and a negative return on equity of 0.66%. The business had revenue of $250.89 million for the quarter, compared to analyst estimates of $242.00 million.

Silicon Laboratories Price Performance

Shares of NASDAQ:SLAB traded down $0.19 during trading on Tuesday, reaching $221.61. 375,771 shares of the company’s stock traded hands, compared to its average volume of 479,789. The stock has a market capitalization of $7.40 billion, a P/E ratio of -187.81 and a beta of 1.20. Silicon Laboratories has a 12 month low of $115.50 and a 12 month high of $223.50. The company has a 50 day moving average of $221.16 and a 200-day moving average of $212.41.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SLAB. Zacks Research upgraded Silicon Laboratories from a “strong sell” rating to a “hold” rating in a report on Monday, October 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Silicon Laboratories in a research note on Monday, September 21st. Finally, Wall Street Zen raised shares of Silicon Laboratories to a “hold” rating in a report on Saturday, October 10th. Six equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $218.00.

Silicon Laboratories Company Profile

Silicon Laboratories (NASDAQ: SLAB), also known as Silicon Labs, is a fabless semiconductor company headquartered in Austin, Texas. Founded in 1996, the company focuses on wireless connectivity and embedded technologies for the Internet of Things (IoT). Its products include wireless system-on-chips, microcontrollers, modules, software and development tools. These solutions support technologies such as Bluetooth, Wi-Fi, Zigbee, Thread and Matter, helping devices communicate and operate in applications across smart homes, commercial buildings and industrial settings.