Silicon Laboratories (NASDAQ:SLAB) Issues Quarterly Earnings Results

Silicon Laboratories (NASDAQ:SLAB) announced its quarterly earnings results on Tuesday. The semiconductor company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.21, FiscalAI reports. The company had revenue of $250.89 million for the quarter, compared to the consensus estimate of $242.00 million. Silicon Laboratories had a negative return on equity of 0.66% and a negative net margin of 4.57%.

Silicon Laboratories Trading Down 0.1%

NASDAQ SLAB opened at $221.61 on Wednesday. The stock has a market capitalization of $7.40 billion, a price-to-earnings ratio of -187.81 and a beta of 1.20. The stock has a 50-day moving average of $221.21 and a 200 day moving average of $212.76. Silicon Laboratories has a twelve month low of $115.50 and a twelve month high of $223.50.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SLAB. Wall Street Zen upgraded Silicon Laboratories to a “hold” rating in a research note on Saturday, October 10th. Zacks Research upgraded Silicon Laboratories from a “strong sell” rating to a “hold” rating in a research report on Monday, October 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Silicon Laboratories in a report on Monday, September 21st. 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 a consensus rating of “Reduce” and a consensus price target 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.