Silicon Laboratories (NASDAQ:SLAB) Releases Earnings Results

Silicon Laboratories (NASDAQ:SLAB) announced its quarterly earnings data on Wednesday. The semiconductor company reported ($1.34) EPS for the quarter, missing analysts’ consensus estimates of ($1.29) by ($0.05), reports. Silicon Laboratories had a negative net margin of 16.36% and a negative return on equity of 4.45%. The firm had revenue of $106.38 million during the quarter, compared to analysts’ expectations of $104.45 million. Silicon Laboratories updated its Q2 guidance to ($0.58)-($0.70) EPS and its Q2 2024 guidance to -0.700–0.580 EPS.

Silicon Laboratories Price Performance

NASDAQ SLAB opened at $122.13 on Friday. The firm’s fifty day moving average price is $133.57 and its 200 day moving average price is $122.15. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of -36.90 and a beta of 1.27. Silicon Laboratories has a 12 month low of $74.56 and a 12 month high of $166.94.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SLAB shares. JPMorgan Chase & Co. dropped their price objective on shares of Silicon Laboratories from $165.00 to $150.00 and set an “overweight” rating on the stock in a research report on Thursday. Stifel Nicolaus increased their price objective on shares of Silicon Laboratories from $136.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, January 2nd. Barclays dropped their price objective on shares of Silicon Laboratories from $140.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Thursday. TD Cowen dropped their target price on shares of Silicon Laboratories from $155.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Citigroup dropped their target price on shares of Silicon Laboratories from $137.00 to $120.00 and set a “neutral” rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $135.00.

Institutional Trading of Silicon Laboratories

A number of large investors have recently bought and sold shares of the business. Pathstone Holdings LLC acquired a new stake in shares of Silicon Laboratories in the 4th quarter worth $58,205,000. Capital Research Global Investors lifted its stake in shares of Silicon Laboratories by 73.9% in the 4th quarter. Capital Research Global Investors now owns 937,939 shares of the semiconductor company’s stock worth $124,061,000 after acquiring an additional 398,489 shares during the period. Norges Bank acquired a new stake in shares of Silicon Laboratories in the 4th quarter worth $28,907,000. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Silicon Laboratories in the 3rd quarter worth $24,453,000. Finally, Vanguard Group Inc. lifted its stake in shares of Silicon Laboratories by 5.5% in the 4th quarter. Vanguard Group Inc. now owns 3,464,163 shares of the semiconductor company’s stock worth $458,205,000 after acquiring an additional 179,131 shares during the period.

Silicon Laboratories Company Profile

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.