Silicon Laboratories (NASDAQ:SLAB) Posts Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) released its quarterly earnings data on Monday. The semiconductor company reported ($0.13) earnings per share for the quarter, beating analysts' consensus estimates of ($0.20) by $0.07, Briefing.com reports. Silicon Laboratories had a negative net margin of 36.53% and a negative return on equity of 9.13%. The company had revenue of $166.00 million during the quarter, compared to analysts' expectations of $165.50 million. During the same quarter in the previous year, the company earned $0.48 earnings per share. The firm's revenue for the quarter was down 18.5% on a year-over-year basis. Silicon Laboratories updated its Q4 guidance to ($0.21)-($0.01) EPS and its Q4 2024 guidance to -0.210--0.010 EPS.

Silicon Laboratories Stock Performance

Shares of NASDAQ:SLAB traded down $0.28 during midday trading on Tuesday, hitting $104.46. The company's stock had a trading volume of 953,558 shares, compared to its average volume of 297,919. Silicon Laboratories has a 12-month low of $90.65 and a 12-month high of $154.91. The company has a market cap of $3.37 billion, a P/E ratio of -17.30 and a beta of 1.20. The business's 50 day simple moving average is $112.56 and its 200 day simple moving average is $115.56.

Insider Buying and Selling at Silicon Laboratories

In other news, SVP Brandon Tolany sold 845 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $115.00, for a total transaction of $97,175.00. Following the transaction, the senior vice president now directly owns 43,615 shares in the company, valued at $5,015,725. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.72% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. cut their price target on Silicon Laboratories from $150.00 to $135.00 and set an "overweight" rating for the company in a research note on Tuesday. KeyCorp cut their price objective on Silicon Laboratories from $150.00 to $115.00 and set an "overweight" rating for the company in a research report on Tuesday. Needham & Company LLC reiterated a "buy" rating and set a $150.00 target price on shares of Silicon Laboratories in a research report on Thursday, July 25th. Stifel Nicolaus dropped their price target on shares of Silicon Laboratories from $160.00 to $135.00 and set a "buy" rating on the stock in a research note on Tuesday. Finally, StockNews.com upgraded shares of Silicon Laboratories to a "sell" rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $121.50.

About Silicon Laboratories

Silicon Laboratories Inc, a fabless semiconductor company, provides various analog-intensive mixed-signal solutions in the United States, China, Taiwan, and internationally. The company's products include wireless microcontrollers and sensor products. Its products are used in various electronic products in a range of applications for the industrial Internet of Things (IoT), including industrial automation and control, smart buildings, access control, HVAC control, and industrial wearables and power tools; smart cities applications, such as smart metering, smart street lighting, renewable energy, electric vehicle supply equipment, and smart agriculture; commercial IoT applications, including smart lighting, asset tracking, electronic shelf labels, theft protection, and enterprise access points; smart home applications, comprising home automation/security systems, smart speakers, smart lighting, HVAC control, smart cameras, smart appliances, smart home sensing, smart locks, and window/blind controls; and connected health applications, including diabetes management, consumer health and fitness, elderly care, patient monitoring, and activity tracking; as well as in commercial building automation, consumer electronics, and medical instrumentation.