Silicon Laboratories (NASDAQ:SLAB) Posts Earnings Results

Silicon Laboratories (NASDAQ:SLAB) announced its earnings results on Wednesday. The semiconductor company reported ($1.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.29) by ($0.05), reports. Silicon Laboratories had a negative return on equity of 4.45% and a negative net margin of 16.36%. The business had revenue of $106.38 million for the quarter, compared to analyst estimates 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 Stock Performance

SLAB stock opened at $118.93 on Friday. The company has a fifty day moving average price of $134.38 and a 200-day moving average price of $122.12. The company has a market capitalization of $3.80 billion, a P/E ratio of -35.93 and a beta of 1.27. Silicon Laboratories has a 52-week low of $74.56 and a 52-week high of $166.94.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SLAB. StockNews.com downgraded shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a report on Friday, December 29th. Barclays dropped their price objective on shares of Silicon Laboratories from $140.00 to $120.00 and set an “equal weight” rating for the company in a research note on Thursday. Summit Insights downgraded shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday. Needham & Company LLC raised shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a research note on Thursday. Finally, Citigroup dropped their price objective on shares of Silicon Laboratories from $137.00 to $120.00 and set a “neutral” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $135.00.

Institutional Investors Weigh In On Silicon Laboratories

Large investors have recently modified their holdings of the company. Venturi Wealth Management LLC acquired a new stake in shares of Silicon Laboratories during the third quarter worth $30,000. GAMMA Investing LLC acquired a new stake in shares of Silicon Laboratories during the fourth quarter worth $36,000. Gladius Capital Management LP increased its position in shares of Silicon Laboratories by 328.7% during the fourth quarter. Gladius Capital Management LP now owns 373 shares of the semiconductor company’s stock worth $49,000 after buying an additional 286 shares during the period. CWM LLC increased its position in shares of Silicon Laboratories by 78.1% during the fourth quarter. CWM LLC now owns 374 shares of the semiconductor company’s stock worth $49,000 after buying an additional 164 shares during the period. Finally, Mather Group LLC. acquired a new stake in shares of Silicon Laboratories during the first quarter worth $63,000.

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.