Silicon Laboratories (NASDAQ:SLAB) Updates Q1 Earnings Guidance

Silicon Laboratories (NASDAQ:SLAB) updated its first quarter earnings guidance on Tuesday. The company provided earnings per share guidance of ($0.19)-0.01 for the period, compared to the consensus earnings per share estimate of ($0.09). The company issued revenue guidance of $175-180 million, compared to the consensus revenue estimate of $177.47 million.

Analysts Set New Price Targets

SLAB has been the subject of several research analyst reports. Barclays raised their target price on shares of Silicon Laboratories from $75.00 to $120.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. KeyCorp lifted their target price on Silicon Laboratories from $115.00 to $160.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Susquehanna started coverage on Silicon Laboratories in a research note on Tuesday, December 17th. They set a “neutral” rating and a $130.00 price target for the company. Benchmark raised Silicon Laboratories from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a research note on Wednesday, February 5th. Finally, Stifel Nicolaus increased their target price on Silicon Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $136.20.

Silicon Laboratories Trading Down 3.5 %

SLAB stock opened at $133.81 on Tuesday. The stock has a market cap of $4.35 billion, a PE ratio of -22.53 and a beta of 1.15. Silicon Laboratories has a 12 month low of $94.00 and a 12 month high of $160.00. The company has a 50-day moving average price of $138.72 and a 200 day moving average price of $122.73.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate of ($0.11). Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The firm had revenue of $166.25 million for the quarter, compared to the consensus estimate of $166.09 million. During the same period in the prior year, the business posted ($1.19) earnings per share. The company’s revenue for the quarter was up 91.4% on a year-over-year basis. Sell-side analysts forecast that Silicon Laboratories will post -0.97 EPS for the current year.

Insider Activity

In related news, Director William G. Bock sold 2,000 shares of Silicon Laboratories stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $140.77, for a total transaction of $281,540.00. Following the completion of the sale, the director now owns 32,115 shares in the company, valued at $4,520,828.55. This trade represents a 5.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Navdeep S. Sooch sold 2,360 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total transaction of $351,640.00. Following the completion of the transaction, the director now owns 400,567 shares in the company, valued at $59,684,483. This represents a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,360 shares of company stock valued at $782,610. 1.72% of the stock is currently owned by company insiders.

Silicon Laboratories Company Profile

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.