Silicon Laboratories (NASDAQ:SLAB) Posts Earnings Results, Beats Expectations By $0.07 EPS

Silicon Laboratories (NASDAQ:SLAB) released its quarterly earnings data on Monday. The semiconductor company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.07, Briefing.com reports. The firm had revenue of $166.00 million for the quarter, compared to the consensus estimate of $165.50 million. Silicon Laboratories had a negative net margin of 36.53% and a negative return on equity of 9.13%. The company’s quarterly revenue was down 18.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.48 earnings per share. Silicon Laboratories updated its Q4 guidance to ($0.21)-($0.01) EPS and its Q4 2024 guidance to -0.210–0.010 EPS.

Silicon Laboratories Stock Performance

Shares of Silicon Laboratories stock traded down $2.21 during trading hours on Tuesday, hitting $102.53. The company’s stock had a trading volume of 115,830 shares, compared to its average volume of 293,922. The business has a 50 day moving average price of $112.84 and a two-hundred day moving average price of $115.65. Silicon Laboratories has a 12-month low of $90.65 and a 12-month high of $154.91. The company has a market cap of $3.31 billion, a PE ratio of -14.84 and a beta of 1.20.

Insider Buying and Selling

In related news, SVP Brandon Tolany sold 845 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $115.00, for a total transaction of $97,175.00. Following the completion of the sale, the senior vice president now directly owns 43,615 shares of the company’s stock, valued at approximately $5,015,725. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.72% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SLAB. Needham & Company LLC reaffirmed a “buy” rating and set a $150.00 price target on shares of Silicon Laboratories in a research note on Thursday, July 25th. Barclays reduced their price target on shares of Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating for the company in a report on Tuesday. StockNews.com upgraded shares of Silicon Laboratories to a “sell” rating in a report on Wednesday, October 30th. Finally, KeyCorp dropped their price target on shares of Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Silicon Laboratories has a consensus rating of “Hold” and an average target price of $130.00.

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.