Silicon Laboratories (NASDAQ:SLAB) Issues Quarterly Earnings Results

Silicon Laboratories (NASDAQ:SLAB) issued its quarterly earnings results on Tuesday. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02, FiscalAI reports. Silicon Laboratories had a negative return on equity of 2.18% and a negative net margin of 6.13%.The firm had revenue of $228.19 million during the quarter, compared to analyst estimates of $227.99 million.

Silicon Laboratories Stock Performance

Shares of SLAB stock traded up $0.51 on Tuesday, hitting $218.94. 175,404 shares of the company’s stock traded hands, compared to its average volume of 545,413. The stock has a market capitalization of $7.22 billion, a price-to-earnings ratio of -143.10 and a beta of 1.37. The company’s fifty day simple moving average is $218.30 and its 200 day simple moving average is $208.36. Silicon Laboratories has a one year low of $115.50 and a one year high of $220.90.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 8,024 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $216.83, for a total transaction of $1,739,843.92. Following the completion of the sale, the chief executive officer directly owned 80,519 shares in the company, valued at $17,458,934.77. This represents a 9.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Vident Advisory LLC lifted its stake in shares of Silicon Laboratories by 2.5% in the 4th quarter. Vident Advisory LLC now owns 3,018 shares of the semiconductor company’s stock valued at $394,000 after acquiring an additional 74 shares during the last quarter. Bank of Montreal Can grew its position in Silicon Laboratories by 2.9% during the 4th quarter. Bank of Montreal Can now owns 3,355 shares of the semiconductor company’s stock worth $438,000 after acquiring an additional 96 shares during the last quarter. Inspire Investing LLC increased its stake in Silicon Laboratories by 3.1% in the 4th quarter. Inspire Investing LLC now owns 3,585 shares of the semiconductor company’s stock worth $469,000 after purchasing an additional 109 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in Silicon Laboratories by 0.5% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 33,417 shares of the semiconductor company’s stock worth $4,302,000 after purchasing an additional 159 shares during the period. Finally, New York State Common Retirement Fund lifted its position in Silicon Laboratories by 1.5% in the fourth quarter. New York State Common Retirement Fund now owns 11,381 shares of the semiconductor company’s stock valued at $1,487,000 after purchasing an additional 165 shares during the last quarter.

About Silicon Laboratories

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.