Silicon Laboratories (NASDAQ:SLAB) Posts Earnings Results, Beats Expectations By $0.04 EPS

Silicon Laboratories (NASDAQ:SLAB) issued its quarterly earnings data on Tuesday. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04, FiscalAI reports. Silicon Laboratories had a negative return on equity of 4.07% and a negative net margin of 8.27%.The company had revenue of $213.50 million for the quarter, compared to the consensus estimate of $214.02 million.

Silicon Laboratories Trading Up 0.6%

Shares of NASDAQ:SLAB traded up $1.27 on Tuesday, reaching $218.27. 477,116 shares of the company traded hands, compared to its average volume of 657,772. The stock has a market capitalization of $7.20 billion, a P/E ratio of -109.68 and a beta of 1.40. Silicon Laboratories has a 52 week low of $102.82 and a 52 week high of $218.68. The business’s 50-day simple moving average is $208.19 and its 200 day simple moving average is $166.94.

Institutional Trading of Silicon Laboratories

Large investors have recently modified their holdings of the business. Kestra Advisory Services LLC bought a new stake in shares of Silicon Laboratories in the fourth quarter worth about $32,000. Kemnay Advisory Services Inc. bought a new stake in shares of Silicon Laboratories in the fourth quarter worth about $44,000. Jones Financial Companies Lllp grew its stake in shares of Silicon Laboratories by 121.4% in the first quarter. Jones Financial Companies Lllp now owns 496 shares of the semiconductor company’s stock worth $56,000 after purchasing an additional 272 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Silicon Laboratories by 75.0% in the second quarter. Canada Pension Plan Investment Board now owns 700 shares of the semiconductor company’s stock worth $103,000 after purchasing an additional 300 shares during the last quarter. Finally, First Growth Capital LLC bought a new stake in shares of Silicon Laboratories in the fourth quarter worth about $130,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Friday, March 27th. Benchmark downgraded Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Needham & Company LLC downgraded Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, February 4th. KeyCorp downgraded Silicon Laboratories from an “overweight” rating to a “hold” rating in a research report on Wednesday, February 4th. Finally, Royal Bank Of Canada raised their price objective on Silicon Laboratories from $160.00 to $205.00 and gave the company a “sector perform” rating in a research note on Thursday, February 5th. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $167.78.

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.