Silicon Laboratories (NASDAQ:SLAB) Posts Earnings Results, Beats Expectations By $0.02 EPS

Silicon Laboratories (NASDAQ:SLABGet Free Report) posted its earnings results on Tuesday. The semiconductor company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02, FiscalAI reports. The company had revenue of $228.19 million for the quarter, compared to the consensus estimate of $227.99 million. Silicon Laboratories had a negative return on equity of 0.66% and a negative net margin of 4.57%.The firm’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.11 earnings per share.

Silicon Laboratories Stock Performance

NASDAQ:SLAB opened at $218.83 on Thursday. The company has a market cap of $7.22 billion, a price-to-earnings ratio of -185.45 and a beta of 1.37. Silicon Laboratories has a fifty-two week low of $115.50 and a fifty-two week high of $220.90. The stock has a fifty day moving average price of $218.30 and a 200-day moving average price of $209.31.

Insider Buying and Selling

In related news, CEO Robert Matthew Johnson sold 8,024 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $216.83, for a total value of $1,739,843.92. Following the completion of the transaction, the chief executive officer owned 80,519 shares of the company’s stock, valued at $17,458,934.77. The trade was a 9.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Silicon Laboratories

Hedge funds have recently bought and sold shares of the company. State Street Corp lifted its holdings in shares of Silicon Laboratories by 0.5% during the 2nd quarter. State Street Corp now owns 1,517,813 shares of the semiconductor company’s stock worth $223,665,000 after acquiring an additional 7,139 shares during the period. Invesco Ltd. raised its position in Silicon Laboratories by 12.9% during the fourth quarter. Invesco Ltd. now owns 852,493 shares of the semiconductor company’s stock valued at $111,421,000 after purchasing an additional 97,351 shares in the last quarter. AQR Capital Management LLC raised its position in Silicon Laboratories by 89.5% during the third quarter. AQR Capital Management LLC now owns 701,919 shares of the semiconductor company’s stock valued at $91,109,000 after purchasing an additional 331,427 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in Silicon Laboratories by 32.6% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 616,475 shares of the semiconductor company’s stock worth $80,573,000 after purchasing an additional 151,664 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Silicon Laboratories by 25.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 592,236 shares of the semiconductor company’s stock valued at $77,405,000 after purchasing an additional 119,138 shares in the last quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Silicon Laboratories in a report on Wednesday, June 24th. Five research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $218.00.

Check Out Our Latest Research Report on Silicon Laboratories

Silicon Laboratories Company Profile

(Get Free Report)

Silicon Laboratories (NASDAQ:SLAB) is a global semiconductor company that develops high-performance analog and mixed-signal integrated circuits, wireless system-on-chips (SoCs), microcontrollers, and radio frequency (RF) solutions. Its product portfolio is tailored to support the Internet of Things (IoT), infrastructure, industrial automation, consumer electronics, automotive, and energy markets. By combining silicon, software, and tools, Silicon Labs aims to accelerate development cycles and deliver low-power, highly integrated solutions that address demanding application requirements.

Founded in 1996 and headquartered in Austin, Texas, Silicon Labs has grown into a multinational organization with engineering and sales operations across North America, Europe, and Asia.

See Also

Earnings History for Silicon Laboratories (NASDAQ:SLAB)

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