Silicon Laboratories (NASDAQ:SLAB) Updates 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.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. StockNews.com upgraded Silicon Laboratories to a sell rating in a report on Tuesday. Summit Insights downgraded shares of Silicon Laboratories from a buy rating to a hold rating in a research report on Wednesday, April 24th. Barclays decreased their target price on shares of Silicon Laboratories from $140.00 to $120.00 and set an equal weight rating for the company in a research report on Thursday, April 25th. TD Cowen reduced their price target on Silicon Laboratories from $155.00 to $145.00 and set a buy rating on the stock in a research report on Thursday, April 25th. Finally, JPMorgan Chase & Co. lowered their price objective on Silicon Laboratories from $165.00 to $150.00 and set an overweight rating for the company in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $135.00.

Silicon Laboratories Trading Up 3.2 %

NASDAQ SLAB opened at $120.32 on Friday. The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of -36.35 and a beta of 1.20. The stock has a 50-day moving average of $118.50 and a 200 day moving average of $126.50. Silicon Laboratories has a twelve month low of $74.56 and a twelve month high of $154.91.

Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results on Wednesday, July 24th. The semiconductor company reported ($0.56) earnings per share for the quarter, topping the consensus estimate of ($0.64) by $0.08. 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 the consensus estimate of $140.18 million. During the same period in the prior year, the company posted $0.59 EPS. The business’s quarterly revenue was down 40.6% on a year-over-year basis. Equities analysts predict that Silicon Laboratories will post -3.21 EPS for the current fiscal year.

Insider Activity

In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 7,230 shares of the stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company 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.