Silicon Laboratories (NASDAQ:SLAB) Announces Earnings Results

Silicon Laboratories (NASDAQ:SLAB) released its earnings results on Tuesday. The semiconductor company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.20, FiscalAI reports. The firm had revenue of $250.89 million during the quarter, compared to analyst estimates of $242.00 million. Silicon Laboratories had a negative net margin of 2.26% and a positive return on equity of 1.52%. The business’s revenue was up 21.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.32 EPS.

Silicon Laboratories Stock Performance

NASDAQ:SLAB opened at $221.61 on Thursday. The firm’s 50-day moving average is $221.26 and its 200-day moving average is $213.14. The company has a market cap of $7.39 billion, a price-to-earnings ratio of -357.44 and a beta of 1.20. Silicon Laboratories has a 52-week low of $115.50 and a 52-week high of $223.50.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Monday, September 21st. Zacks Research raised Silicon Laboratories from a “strong sell” rating to a “hold” rating in a report on Monday, October 12th. Finally, Wall Street Zen raised Silicon Laboratories to a “hold” rating in a research report on Saturday, October 10th. Six equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $218.00.

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.