Silicon Laboratories (NASDAQ:SLAB) Issues Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Share on StockTwits

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.

ILLEGAL ACTIVITY NOTICE: This story was published by Highlight Press and is the sole property of of Highlight Press. If you are reading this story on another site, it was copied illegally and reposted in violation of U.S. and international copyright law. The legal version of this story can be read at https://highlightpress.com/2019/02/22/silicon-laboratories-slab-posts-earnings-results-misses-estimates-by-0-03-eps-2.html.

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

Earnings History for Silicon Laboratories (NASDAQ:SLAB)

Receive News & Ratings for Silicon Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silicon Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply