Silicon Laboratories (NASDAQ:SLAB) Announces Quarterly Earnings Results

Silicon Laboratories (NASDAQ:SLAB) posted its quarterly earnings results on Monday. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.07, Briefing.com reports. Silicon Laboratories had a negative net margin of 46.93% and a negative return on equity of 12.40%. The company had revenue of $166.00 million for the quarter, compared to analyst estimates of $165.50 million. During the same period last year, the business posted $0.48 EPS. The business’s quarterly revenue was down 18.5% on a year-over-year basis. Silicon Laboratories updated its Q4 guidance to ($0.21)-($0.01) EPS and its Q4 2024 guidance to -0.210–0.010 EPS.

Silicon Laboratories Stock Down 2.0 %

Shares of Silicon Laboratories stock traded down $2.35 on Thursday, hitting $113.35. The stock had a trading volume of 60,438 shares, compared to its average volume of 298,623. The stock’s 50-day simple moving average is $112.32 and its two-hundred day simple moving average is $115.49. Silicon Laboratories has a one year low of $92.55 and a one year high of $154.91. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of -15.64 and a beta of 1.20.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Stifel Nicolaus dropped their target price on shares of Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. dropped their target price on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday. Barclays dropped their target price on shares of Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating for the company in a research note on Tuesday. Morgan Stanley lowered their price target on shares of Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, KeyCorp lowered their price target on shares of Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating for the company in a research report on Tuesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Silicon Laboratories presently has a consensus rating of “Hold” and an average price target of $121.50.

Insider Buying and Selling

In other Silicon Laboratories news, SVP Brandon Tolany sold 845 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $115.00, for a total transaction of $97,175.00. Following the completion of the transaction, the senior vice president now owns 43,615 shares of the company’s stock, valued at approximately $5,015,725. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.72% of the stock is currently owned by insiders.

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.