Silicon Laboratories (NASDAQ:SLAB) Releases Q1 Earnings Guidance

Silicon Laboratories (NASDAQ:SLAB) issued an update on its first quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of ($0.19)-0.01 for the period, compared to the consensus estimate of ($0.09). The company issued revenue guidance of $175-180 million, compared to the consensus revenue estimate of $177.47 million.

Silicon Laboratories Price Performance

SLAB opened at $121.68 on Thursday. The company’s 50 day simple moving average is $138.66 and its two-hundred day simple moving average is $122.76. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of -20.48 and a beta of 1.15. Silicon Laboratories has a 1-year low of $94.00 and a 1-year high of $160.00.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.11). The business had revenue of $166.25 million during the quarter, compared to the consensus estimate of $166.09 million. Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. The business’s revenue was up 91.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.19) EPS. On average, equities analysts anticipate that Silicon Laboratories will post -0.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SLAB. Barclays raised their price target on shares of Silicon Laboratories from $75.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. Stifel Nicolaus lifted their target price on shares of Silicon Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a report on Monday, January 6th. Benchmark reiterated a “buy” rating and issued a $160.00 target price on shares of Silicon Laboratories in a report on Wednesday. Susquehanna started coverage on shares of Silicon Laboratories in a report on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 target price for the company. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $150.00 target price on shares of Silicon Laboratories in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Silicon Laboratories has an average rating of “Hold” and a consensus target price of $136.20.

Insiders Place Their Bets

In other Silicon Laboratories news, Director William G. Bock sold 1,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $149.43, for a total value of $149,430.00. Following the completion of the transaction, the director now owns 31,115 shares in the company, valued at $4,649,514.45. The trade was a 3.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Navdeep S. Sooch sold 2,360 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total transaction of $351,640.00. Following the completion of the transaction, the director now owns 400,567 shares of the company’s stock, valued at approximately $59,684,483. This trade represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,360 shares of company stock worth $782,610 over the last 90 days. Corporate insiders own 1.72% of the company’s stock.

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.