Silicon Laboratories (NASDAQ:SLAB – Get Free Report) released its quarterly earnings data on Wednesday. The semiconductor company reported ($0.56) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.08, Briefing.com reports. Silicon Laboratories had a negative return on equity of 9.13% and a negative net margin of 36.53%. The business had revenue of $145.40 million during the quarter, compared to analyst estimates of $140.18 million. During the same quarter in the previous year, the firm posted $0.59 EPS. The business’s revenue for the quarter was down 40.6% compared to the same quarter last year. Silicon Laboratories updated its Q3 guidance to ($0.10)-($0.30) EPS and its Q3 2024 guidance to -0.300–0.100 EPS.
Silicon Laboratories Stock Performance
Shares of NASDAQ SLAB opened at $116.61 on Friday. Silicon Laboratories has a 1 year low of $74.56 and a 1 year high of $154.91. The firm has a market cap of $3.72 billion, a P/E ratio of -35.23 and a beta of 1.20. The stock has a fifty day moving average price of $118.70 and a two-hundred day moving average price of $126.53.
Insider Activity
In related news, CEO Robert Matthew Johnson sold 7,230 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $123.80, for a total transaction of $895,074.00. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available at this link. 1.72% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
View Our Latest Stock Report on Silicon Laboratories
About Silicon Laboratories
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.
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