Silicon Laboratories (NASDAQ:SLAB) Posts Earnings Results, Beats Estimates By $0.17 EPS

Silicon Laboratories (NASDAQ:SLAB) released its quarterly earnings results on Wednesday. The semiconductor company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.17, MarketWatch Earnings reports. The firm had revenue of $207.53 million for the quarter, compared to the consensus estimate of $199.52 million. Silicon Laboratories had a net margin of 3.50% and a return on equity of 8.55%. The firm’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.83 EPS. Silicon Laboratories updated its Q3 2020
Pre-Market guidance to 0.67-0.77 EPS and its Q3 guidance to $0.67-0.77 EPS.

SLAB traded down $2.23 on Friday, hitting $100.51. 364,923 shares of the company’s stock were exchanged, compared to its average volume of 253,081. The company has a current ratio of 6.80, a quick ratio of 2.64 and a debt-to-equity ratio of 0.49. The stock has a fifty day moving average of $99.95 and a two-hundred day moving average of $96.33. Silicon Laboratories has a twelve month low of $65.09 and a twelve month high of $122.90. The firm has a market cap of $4.49 billion, a PE ratio of 48.01, a P/E/G ratio of 5.44 and a beta of 1.18.

Several research analysts recently commented on SLAB shares. ValuEngine cut Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, May 1st. Benchmark raised their price target on shares of Silicon Laboratories from $100.00 to $118.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. BidaskClub upgraded shares of Silicon Laboratories from a “sell” rating to a “hold” rating in a research note on Wednesday, April 29th. Barclays upped their target price on shares of Silicon Laboratories from $90.00 to $105.00 and gave the company an “equal weight” rating in a research note on Monday, July 20th. Finally, Citigroup lifted their price target on Silicon Laboratories from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $119.71.

In other Silicon Laboratories news, SVP Brandon Tolany sold 16,170 shares of the firm’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $105.13, for a total value of $1,699,952.10. Following the sale, the senior vice president now directly owns 54,776 shares in the company, valued at $5,758,600.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO John C. Hollister sold 10,000 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $96.38, for a total transaction of $963,800.00. Following the transaction, the chief financial officer now directly owns 61,555 shares of the company’s stock, valued at approximately $5,932,670.90. The disclosure for this sale can be found here. Insiders sold 37,170 shares of company stock worth $3,822,650 in the last three months. 2.33% of the stock is currently owned by corporate insiders.

About Silicon Laboratories

Silicon Laboratories Inc, a fabless semiconductor company, designs, develops, and markets mixed-signal integrated circuits (ICs) in the United States, China, and internationally. The company offers Internet of things products, including 8-bit mixed-signal, 32-bit wireless, and ultra-low-power 32-bit microcontrollers; wireless connectivity devices, such as multiprotocol wireless Gecko system-on-chip devices; real-time operating systems; sensor products comprising optical, relative humidity/temperature, and hall effect magnetic sensors.

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Earnings History for Silicon Laboratories (NASDAQ:SLAB)

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