Silicon Laboratories (NASDAQ:SLAB – Get Free Report) posted its quarterly earnings results on Tuesday. The semiconductor company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.21, FiscalAI reports. The firm had revenue of $250.89 million during the quarter, compared to the consensus estimate of $242.00 million. Silicon Laboratories had a negative return on equity of 0.66% and a negative net margin of 4.57%.
Silicon Laboratories Trading Down 0.1%
NASDAQ:SLAB traded down $0.19 during mid-day trading on Tuesday, hitting $221.61. The company had a trading volume of 350,030 shares, compared to its average volume of 479,109. The business has a fifty day simple moving average of $221.16 and a 200-day simple moving average of $212.41. Silicon Laboratories has a 1 year low of $115.50 and a 1 year high of $223.50. The firm has a market capitalization of $7.40 billion, a price-to-earnings ratio of -187.81 and a beta of 1.20.
Wall Street Analyst Weigh In
A number of research firms have recently commented on SLAB. Weiss Ratings restated a “sell (d-)” rating on shares of Silicon Laboratories in a report on Monday, September 21st. Wall Street Zen upgraded Silicon Laboratories to a “hold” rating in a report on Saturday, October 10th. Finally, Zacks Research upgraded Silicon Laboratories from a “strong sell” rating to a “hold” rating in a report on Monday, October 12th. Six investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $218.00.
Read Our Latest Stock Report on Silicon Laboratories
About Silicon Laboratories
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.
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