$242.26 Million in Sales Expected for Silicon Laboratories Inc. (NASDAQ:SLAB) This Quarter


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Analysts forecast that Silicon Laboratories Inc. (NASDAQ:SLAB) will report sales of $242.26 million for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Silicon Laboratories’ earnings. The lowest sales estimate is $242.00 million and the highest is $243.05 million. Silicon Laboratories reported sales of $214.88 million in the same quarter last year, which indicates a positive year over year growth rate of 12.7%. The company is expected to issue its next quarterly earnings report before the market opens on Wednesday, April 28th.

According to Zacks, analysts expect that Silicon Laboratories will report full-year sales of $1.01 billion for the current fiscal year, with estimates ranging from $994.80 million to $1.02 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $1.09 billion, with estimates ranging from $1.06 billion to $1.10 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Silicon Laboratories.

Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results on Wednesday, February 3rd. The semiconductor company reported $0.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.11. The firm had revenue of $242.90 million during the quarter, compared to analyst estimates of $226.33 million. Silicon Laboratories had a net margin of 1.54% and a return on equity of 7.34%. Silicon Laboratories’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.84 EPS.

SLAB has been the subject of a number of research reports. Barclays increased their price target on Silicon Laboratories from $135.00 to $150.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 26th. They noted that the move was a valuation call. Needham & Company LLC boosted their price target on shares of Silicon Laboratories from $150.00 to $195.00 and gave the stock a “buy” rating in a research report on Monday, March 1st. Wells Fargo & Company upped their price target on shares of Silicon Laboratories from $165.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, March 2nd. Loop Capital lifted their price objective on shares of Silicon Laboratories from $108.00 to $140.00 and gave the stock a “hold” rating in a research note on Thursday, February 4th. Finally, Benchmark increased their target price on shares of Silicon Laboratories from $155.00 to $190.00 and gave the company a “buy” rating in a research note on Monday, March 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. Silicon Laboratories presently has an average rating of “Buy” and an average price target of $154.27.

NASDAQ:SLAB traded down $3.48 during midday trading on Wednesday, hitting $145.88. 238,944 shares of the stock were exchanged, compared to its average volume of 333,540. The company has a market capitalization of $6.45 billion, a price-to-earnings ratio of 486.27, a P/E/G ratio of 4.33 and a beta of 1.06. The company has a current ratio of 6.20, a quick ratio of 5.77 and a debt-to-equity ratio of 0.48. Silicon Laboratories has a one year low of $83.33 and a one year high of $163.43. The business has a 50-day moving average price of $146.06 and a two-hundred day moving average price of $129.84.

In related news, SVP Brandon Tolany sold 379 shares of the firm’s stock in a transaction that occurred on Monday, February 1st. The shares were sold at an average price of $132.30, for a total transaction of $50,141.70. Following the completion of the sale, the senior vice president now directly owns 39,536 shares in the company, valued at $5,230,612.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William G. Bock sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 16th. The shares were sold at an average price of $153.19, for a total transaction of $153,190.00. Following the transaction, the director now directly owns 34,976 shares in the company, valued at $5,357,973.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,300 shares of company stock worth $497,091. Company insiders own 2.33% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of SLAB. Lazard Asset Management LLC bought a new stake in shares of Silicon Laboratories in the 4th quarter valued at approximately $122,000. Twin Tree Management LP bought a new stake in Silicon Laboratories in the fourth quarter worth approximately $172,000. CIBC Asset Management Inc acquired a new position in shares of Silicon Laboratories during the 4th quarter worth $209,000. World Asset Management Inc bought a new position in shares of Silicon Laboratories during the 4th quarter valued at $217,000. Finally, Phoenix Holdings Ltd. acquired a new stake in shares of Silicon Laboratories in the 4th quarter valued at $239,000. 92.96% of the stock is currently owned by institutional investors and hedge funds.

About Silicon Laboratories

Silicon Laboratories Inc, a fabless semiconductor company, provides mixed-signal integrated circuits (ICs) in the United States, China, and internationally. The company offers microcontrollers and wireless products, including 8-bit mixed-signal and ultra-low-power 32-bit microcontrollers (MCU); wireless MCU connectivity solutions; single and multi-protocol system-on-chip (SoC) devices and modules; wireless protocols, MCUs, and SoCs; in-house protocol stacks; Micrium, a real-time operating system that helps simplify software development for IoT developers.It also provides sensor products comprising optical, relative humidity/temperature, and hall effect magnetic sensors; timing devices; multi-channel isolators, isolated drivers, isolated power converters, and mixed-signal devices; broadcast products, which include single-chip hybrid TV tuners and digital video demodulators, as well as AM/FM, HD radio, and DAB/DAB+ receivers; and hybrid software defined radio tuners, data receivers, and digital radio coprocessors.

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