Silicon Laboratories (NASDAQ:SLAB) Updates Q2 Earnings Guidance

Silicon Laboratories (NASDAQ:SLABGet Rating) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.85-0.95 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.59.

Shares of NASDAQ SLAB opened at $127.28 on Wednesday. Silicon Laboratories has a twelve month low of $120.15 and a twelve month high of $211.98. The firm has a market cap of $4.86 billion, a P/E ratio of 2.68 and a beta of 1.24. The company has a 50 day moving average of $143.92 and a 200 day moving average of $169.29.

Silicon Laboratories (NASDAQ:SLABGet Rating) last announced its quarterly earnings data on Wednesday, February 2nd. The semiconductor company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.20. Silicon Laboratories had a net margin of 258.69% and a return on equity of 4.49%. The company had revenue of $208.68 million during the quarter, compared to analyst estimates of $200.15 million. During the same period in the previous year, the business earned $0.56 EPS. The firm’s revenue for the quarter was up 43.1% on a year-over-year basis. Equities research analysts predict that Silicon Laboratories will post 1.56 earnings per share for the current year.

A number of equities analysts recently weighed in on SLAB shares. Morgan Stanley decreased their price objective on shares of Silicon Laboratories from $208.00 to $156.00 and set an equal weight rating for the company in a report on Monday. Zacks Investment Research lowered shares of Silicon Laboratories from a buy rating to a hold rating in a research note on Wednesday, April 6th. StockNews.com began coverage on shares of Silicon Laboratories in a research note on Thursday, March 31st. They set a hold rating for the company. Barclays boosted their target price on shares of Silicon Laboratories from $160.00 to $185.00 in a research note on Wednesday, January 12th. Finally, Needham & Company LLC boosted their target price on shares of Silicon Laboratories from $210.00 to $230.00 and gave the company a buy rating in a research note on Monday, March 7th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $188.89.

In related news, Director Nina Richardson sold 473 shares of the company’s stock in a transaction on Friday, April 22nd. The shares were sold at an average price of $129.60, for a total value of $61,300.80. Following the completion of the transaction, the director now owns 8,171 shares of the company’s stock, valued at approximately $1,058,961.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director William G. Bock sold 1,000 shares of the company’s stock in a transaction on Tuesday, February 15th. The stock was sold at an average price of $155.31, for a total transaction of $155,310.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,459 shares of company stock valued at $372,379. Insiders own 1.61% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLAB. Barclays PLC boosted its holdings in shares of Silicon Laboratories by 20.6% during the 4th quarter. Barclays PLC now owns 87,202 shares of the semiconductor company’s stock valued at $18,001,000 after purchasing an additional 14,886 shares during the last quarter. Parametric Portfolio Associates LLC boosted its holdings in shares of Silicon Laboratories by 17.5% during the 4th quarter. Parametric Portfolio Associates LLC now owns 82,830 shares of the semiconductor company’s stock valued at $17,098,000 after purchasing an additional 12,329 shares during the last quarter. Comerica Bank boosted its holdings in shares of Silicon Laboratories by 27.7% during the 4th quarter. Comerica Bank now owns 25,283 shares of the semiconductor company’s stock valued at $3,961,000 after purchasing an additional 5,487 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of Silicon Laboratories by 142.1% during the 3rd quarter. LPL Financial LLC now owns 6,253 shares of the semiconductor company’s stock valued at $868,000 after purchasing an additional 3,670 shares during the last quarter. Finally, NewEdge Advisors LLC bought a new position in shares of Silicon Laboratories during the 4th quarter valued at about $506,000. 95.97% of the stock is owned by institutional investors and hedge funds.

About Silicon Laboratories (Get Rating)

Silicon Laboratories Inc, a fabless semiconductor company, provides mixed-signal integrated circuits (ICs) in the United States, China, and internationally. The company offers microcontrollers and wireless products, including 8-bit mixed-signal and ultra-low-power 32-bit microcontrollers (MCU); wireless MCU connectivity solutions; single and multi-protocol system-on-chip (SoC) devices and modules; wireless protocols, MCUs, and SoCs; in-house protocol stacks; Micrium, a real-time operating system that helps simplify software development for IoT developers.It also provides sensor products comprising optical, relative humidity/temperature, and hall effect magnetic sensors; timing devices; multi-channel isolators, isolated drivers, isolated power converters, and mixed-signal devices; broadcast products, which include single-chip hybrid TV tuners and digital video demodulators, as well as AM/FM, HD radio, and DAB/DAB+ receivers; and hybrid software defined radio tuners, data receivers, and digital radio coprocessors.

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