Silicon Laboratories (NASDAQ:SLAB) Issues Q3 2024 Earnings Guidance

Silicon Laboratories (NASDAQ:SLAB) updated its third quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of -0.300–0.100 for the period, compared to the consensus EPS estimate of -0.180. The company issued revenue guidance of $160.0 million-$170.0 million, compared to the consensus revenue estimate of $172.8 million. Silicon Laboratories also updated its Q3 guidance to ($0.10)-($0.30) EPS.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Benchmark restated a hold rating on shares of Silicon Laboratories in a research note on Thursday, April 25th. Barclays cut their price target on shares of Silicon Laboratories from $140.00 to $120.00 and set an equal weight rating for the company in a report on Thursday, April 25th. Summit Insights cut shares of Silicon Laboratories from a buy rating to a hold rating in a report on Wednesday, April 24th. Citigroup lowered their price target on shares of Silicon Laboratories from $137.00 to $120.00 and set a neutral rating on the stock in a research report on Thursday, April 25th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Silicon Laboratories from $165.00 to $150.00 and set an overweight rating on the stock in a research report on Thursday, April 25th. One investment 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. According to MarketBeat, the stock currently has an average rating of Hold and an average target price of $135.00.

Silicon Laboratories Stock Performance

Shares of SLAB stock traded down $0.81 during mid-day trading on Wednesday, hitting $115.43. 621,105 shares of the stock traded hands, compared to its average volume of 314,416. Silicon Laboratories has a twelve month low of $74.56 and a twelve month high of $160.23. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of -35.70 and a beta of 1.20. The company’s 50-day simple moving average is $119.29 and its 200-day simple moving average is $126.68.

Silicon Laboratories (NASDAQ:SLAB) last issued its earnings results on Wednesday, April 24th. The semiconductor company reported ($1.34) EPS for the quarter, missing the consensus estimate of ($1.29) by ($0.05). The business had revenue of $106.38 million during the quarter, compared to analyst estimates of $104.45 million. Silicon Laboratories had a negative return on equity of 4.45% and a negative net margin of 16.36%. Analysts forecast that Silicon Laboratories will post -3.21 earnings per share for the current year.

Insider Activity at Silicon Laboratories

In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 7,230 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $123.80, for a total value of $895,074.00. Following the completion of the sale, the chief executive officer now owns 47,910 shares of the company’s stock, valued at $5,931,258. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.72% of the company’s stock.

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.