Silicon Laboratories (NASDAQ:SLAB) announced its earnings results on Wednesday, January 30th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.03), MarketWatch Earnings reports. The firm had revenue of $215.50 million during the quarter, compared to analyst estimates of $224.21 million. Silicon Laboratories had a net margin of 9.63% and a return on equity of 12.13%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the company earned $0.93 earnings per share. Silicon Laboratories updated its Q1 2019 guidance to $0.42-0.52 EPS and its Q1 guidance to $0.42-0.52 EPS.
Silicon Laboratories stock traded down $1.17 during midday trading on Thursday, hitting $85.46. The stock had a trading volume of 221,123 shares, compared to its average volume of 404,484. The company has a quick ratio of 5.19, a current ratio of 5.71 and a debt-to-equity ratio of 0.33. Silicon Laboratories has a 12 month low of $73.13 and a 12 month high of $110.70. The firm has a market cap of $3.74 billion, a P/E ratio of 29.88, a P/E/G ratio of 3.18 and a beta of 1.49.
Several equities research analysts have recently issued reports on the company. Zacks Investment Research cut Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, January 29th. BidaskClub upgraded Silicon Laboratories from a “hold” rating to a “buy” rating in a report on Friday, February 8th. Roth Capital reduced their target price on Silicon Laboratories from $100.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, January 31st. Barclays reiterated a “hold” rating and issued a $80.00 target price on shares of Silicon Laboratories in a report on Thursday, January 31st. Finally, MKM Partners cut their price objective on Silicon Laboratories to $85.00 and set a “neutral” rating on the stock in a research report on Friday, October 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $99.60.
In other news, Director William G. Bock sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $87.74, for a total transaction of $87,740.00. Following the completion of the transaction, the director now directly owns 38,751 shares in the company, valued at $3,400,012.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Alessandro Piovaccari sold 1,121 shares of the company’s stock in a transaction that occurred on Friday, December 14th. The stock was sold at an average price of $82.52, for a total value of $92,504.92. Following the completion of the sale, the senior vice president now owns 26,222 shares of the company’s stock, valued at $2,163,839.44. The disclosure for this sale can be found here. Insiders own 1.96% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisor Group Inc. lifted its position in Silicon Laboratories by 13.9% in the fourth quarter. Advisor Group Inc. now owns 1,345 shares of the semiconductor company’s stock worth $106,000 after purchasing an additional 164 shares during the period. Arizona State Retirement System increased its holdings in shares of Silicon Laboratories by 0.6% in the fourth quarter. Arizona State Retirement System now owns 30,969 shares of the semiconductor company’s stock valued at $2,441,000 after buying an additional 188 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Silicon Laboratories by 9.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,923 shares of the semiconductor company’s stock valued at $230,000 after buying an additional 241 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Silicon Laboratories by 1.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 17,230 shares of the semiconductor company’s stock valued at $1,358,000 after buying an additional 305 shares in the last quarter. Finally, Xact Kapitalforvaltning AB increased its holdings in shares of Silicon Laboratories by 6.0% in the fourth quarter. Xact Kapitalforvaltning AB now owns 7,037 shares of the semiconductor company’s stock valued at $555,000 after buying an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 91.29% of the company’s stock.
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About Silicon Laboratories
Silicon Laboratories Inc, a fabless semiconductor company, designs, develops, and markets mixed-signal integrated circuits (ICs) in the United States, China, and internationally. The company offers Internet of things products, including 8-bit mixed-signal, 32-bit wireless, and ultra-low-power 32-bit microcontrollers; wireless connectivity devices, such as multiprotocol wireless Gecko system-on-chip devices; real-time operating systems; sensor products comprising optical, relative humidity/temperature, and hall effect magnetic sensors.
Further Reading: Cost of Capital
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