Silicon Laboratories (NASDAQ:SLAB) Announces Quarterly Earnings Results, Beats Estimates By $0.20 EPS

Silicon Laboratories (NASDAQ:SLAB) posted its quarterly earnings results on Tuesday. The semiconductor company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.20, FiscalAI reports. The business had revenue of $250.89 million during the quarter, compared to analysts’ expectations of $242.00 million. Silicon Laboratories had a negative net margin of 4.57% and a negative return on equity of 0.66%. The business’s quarterly revenue was up 21.8% on a year-over-year basis. During the same period last year, the company posted $0.32 earnings per share.

Silicon Laboratories Price Performance

Shares of Silicon Laboratories stock opened at $221.61 on Wednesday. Silicon Laboratories has a 1 year low of $115.50 and a 1 year high of $223.50. The firm has a market cap of $7.40 billion, a PE ratio of -187.81 and a beta of 1.20. The stock has a fifty day moving average price of $221.21 and a 200-day moving average price of $212.76.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Zacks Research upgraded Silicon Laboratories from a “strong sell” rating to a “hold” rating in a research note on Monday, October 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Silicon Laboratories in a research note on Monday, September 21st. Finally, Wall Street Zen upgraded shares of Silicon Laboratories to a “hold” rating in a report on Saturday, October 10th. Six analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average 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.