Silicon Laboratories Inc. (NASDAQ:SLAB) Expected to Post Quarterly Sales of $267.10 Million

Equities analysts expect Silicon Laboratories Inc. (NASDAQ:SLAB) to post $267.10 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Silicon Laboratories’ earnings, with the lowest sales estimate coming in at $267.00 million and the highest estimate coming in at $267.29 million. Silicon Laboratories posted sales of $207.53 million during the same quarter last year, which suggests a positive year over year growth rate of 28.7%. The firm is scheduled to announce its next earnings report before the market opens on Wednesday, July 28th.

On average, analysts expect that Silicon Laboratories will report full year sales of $1.07 billion for the current year, with estimates ranging from $1.06 billion to $1.08 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.18 billion, with estimates ranging from $1.15 billion to $1.22 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that follow Silicon Laboratories.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings data on Wednesday, April 28th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.29. Silicon Laboratories had a return on equity of 8.14% and a net margin of 2.57%. The business had revenue of $255.50 million for the quarter, compared to analysts’ expectations of $242.11 million. During the same period in the previous year, the business posted $0.71 EPS. The firm’s quarterly revenue was up 18.8% compared to the same quarter last year.

Several equities research analysts have recently weighed in on the company. Citigroup cut Silicon Laboratories from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 19th. KeyCorp upgraded Silicon Laboratories from a “sector weight” rating to an “overweight” rating and set a $185.00 price target on the stock in a research report on Thursday, April 29th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $155.00 price target on shares of Silicon Laboratories in a research report on Wednesday, May 5th. Morgan Stanley upped their price target on Silicon Laboratories from $156.00 to $160.00 and gave the company an “equal weight” rating in a research report on Thursday, April 29th. Finally, Barclays upped their price target on Silicon Laboratories from $140.00 to $150.00 in a research report on Friday, April 23rd. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $164.92.

Silicon Laboratories stock traded down $3.65 during midday trading on Friday, reaching $144.01. The stock had a trading volume of 15,723 shares, compared to its average volume of 248,978. Silicon Laboratories has a 12 month low of $92.19 and a 12 month high of $163.43. The business has a 50-day moving average of $140.26. The firm has a market cap of $6.44 billion, a price-to-earnings ratio of 283.97, a PEG ratio of 8.12 and a beta of 0.99. The company has a debt-to-equity ratio of 0.36, a current ratio of 5.71 and a quick ratio of 5.18.

In other Silicon Laboratories news, Director William G. Bock sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, May 17th. The stock was sold at an average price of $123.29, for a total value of $123,290.00. Following the completion of the sale, the director now owns 35,219 shares of the company’s stock, valued at $4,342,150.51. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.12% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of SLAB. BlackRock Inc. boosted its stake in shares of Silicon Laboratories by 0.9% during the first quarter. BlackRock Inc. now owns 5,911,010 shares of the semiconductor company’s stock valued at $833,866,000 after purchasing an additional 49,919 shares during the period. Federated Hermes Inc. boosted its stake in shares of Silicon Laboratories by 3.9% during the first quarter. Federated Hermes Inc. now owns 788,210 shares of the semiconductor company’s stock valued at $111,193,000 after purchasing an additional 29,869 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Silicon Laboratories by 3.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 785,476 shares of the semiconductor company’s stock valued at $110,807,000 after purchasing an additional 27,262 shares during the period. Geode Capital Management LLC boosted its stake in shares of Silicon Laboratories by 8.7% during the first quarter. Geode Capital Management LLC now owns 770,696 shares of the semiconductor company’s stock valued at $108,722,000 after purchasing an additional 61,605 shares during the period. Finally, Millennium Management LLC boosted its stake in shares of Silicon Laboratories by 333.8% during the first quarter. Millennium Management LLC now owns 554,021 shares of the semiconductor company’s stock valued at $78,156,000 after purchasing an additional 426,321 shares during the period. 92.48% of the stock is owned by institutional investors and hedge funds.

About Silicon Laboratories

Silicon Laboratories, Inc designs and develops analog-intensive and mixed-signal integrated circuits. The firm offers microcontrollers, wireless, sensors, USB bridges, analog, clocks and oscillators, isolators, power, audio and radio, modems and TV and video product categories. It provides solutions for automotive, communications, data centers, healthcare & fitness, home automation & entertainment, industrial automation & power and retail industries.

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