Silicon Laboratories (NASDAQ:SLAB) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Silicon Laboratories (NASDAQ:SLAB) announced its quarterly earnings results on Tuesday. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02, FiscalAI reports. Silicon Laboratories had a negative net margin of 6.13% and a negative return on equity of 2.18%. The firm had revenue of $228.19 million for the quarter, compared to the consensus estimate of $227.99 million.

Silicon Laboratories Price Performance

Shares of NASDAQ:SLAB traded up $0.51 on Tuesday, hitting $218.94. The company’s stock had a trading volume of 175,304 shares, compared to its average volume of 545,273. The company has a market capitalization of $7.22 billion, a PE ratio of -143.10 and a beta of 1.37. The company has a 50-day simple moving average of $218.30 and a 200 day simple moving average of $208.36. Silicon Laboratories has a 1 year low of $115.50 and a 1 year high of $220.90.

Insiders Place Their Bets

In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 8,024 shares of Silicon Laboratories stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $216.83, for a total transaction of $1,739,843.92. Following the completion of the sale, the chief executive officer directly owned 80,519 shares in the company, valued at $17,458,934.77. The trade was a 9.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of Silicon Laboratories

Several institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp lifted its holdings in shares of Silicon Laboratories by 0.5% during the 2nd quarter. State Street Corp now owns 1,517,813 shares of the semiconductor company’s stock worth $223,665,000 after acquiring an additional 7,139 shares during the last quarter. Invesco Ltd. increased its stake in Silicon Laboratories by 12.9% in the fourth quarter. Invesco Ltd. now owns 852,493 shares of the semiconductor company’s stock valued at $111,421,000 after acquiring an additional 97,351 shares during the last quarter. AQR Capital Management LLC increased its stake in Silicon Laboratories by 89.5% in the third quarter. AQR Capital Management LLC now owns 701,919 shares of the semiconductor company’s stock valued at $91,109,000 after acquiring an additional 331,427 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its position in Silicon Laboratories by 32.6% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 616,475 shares of the semiconductor company’s stock valued at $80,573,000 after purchasing an additional 151,664 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Silicon Laboratories by 25.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 592,236 shares of the semiconductor company’s stock valued at $77,405,000 after purchasing an additional 119,138 shares in the last quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Silicon Laboratories in a report on Wednesday, June 24th. Five equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $218.00.

About Silicon Laboratories

Silicon Laboratories (NASDAQ:SLAB) is a global semiconductor company that develops high-performance analog and mixed-signal integrated circuits, wireless system-on-chips (SoCs), microcontrollers, and radio frequency (RF) solutions. Its product portfolio is tailored to support the Internet of Things (IoT), infrastructure, industrial automation, consumer electronics, automotive, and energy markets. By combining silicon, software, and tools, Silicon Labs aims to accelerate development cycles and deliver low-power, highly integrated solutions that address demanding application requirements.

Founded in 1996 and headquartered in Austin, Texas, Silicon Labs has grown into a multinational organization with engineering and sales operations across North America, Europe, and Asia.