Silicon Laboratories (NASDAQ:SLAB) Releases Quarterly Earnings Results, Beats Expectations By $0.21 EPS

Silicon Laboratories (NASDAQ:SLAB) posted its quarterly earnings results on Tuesday. The semiconductor company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.21, FiscalAI reports. Silicon Laboratories had a negative return on equity of 0.66% and a negative net margin of 4.57%. The firm had revenue of $250.89 million for the quarter, compared to the consensus estimate of $242.00 million.

Silicon Laboratories Price Performance

SLAB stock traded down $0.19 during midday trading on Tuesday, hitting $221.61. The stock had a trading volume of 350,030 shares, compared to its average volume of 479,109. The firm has a market cap of $7.40 billion, a PE ratio of -187.81 and a beta of 1.20. Silicon Laboratories has a 12-month low of $115.50 and a 12-month high of $223.50. The company’s 50-day moving average price is $221.16 and its 200 day moving average price is $212.41.

Analyst Upgrades and Downgrades

SLAB has been the subject of a number of research reports. Wall Street Zen upgraded shares of Silicon Laboratories to a “hold” rating in a research report on Saturday, October 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Monday, September 21st. Finally, Zacks Research raised shares of Silicon Laboratories from a “strong sell” rating to a “hold” rating in a research note on Monday, October 12th. Six investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $218.00.

About Silicon Laboratories

Silicon Laboratories (NASDAQ: SLAB), also known as Silicon Labs, is a fabless semiconductor company headquartered in Austin, Texas. Founded in 1996, the company focuses on wireless connectivity and embedded technologies for the Internet of Things (IoT). Its products include wireless system-on-chips, microcontrollers, modules, software and development tools. These solutions support technologies such as Bluetooth, Wi-Fi, Zigbee, Thread and Matter, helping devices communicate and operate in applications across smart homes, commercial buildings and industrial settings.