Silicon Laboratories (SLAB) Set to Announce Quarterly Earnings on Wednesday

Silicon Laboratories (NASDAQ:SLAB) is scheduled to post its quarterly earnings results before the market opens on Wednesday, April 24th. Analysts expect Silicon Laboratories to post earnings of ($0.98) per share for the quarter. Silicon Laboratories has set its Q1 2024 guidance at -1.040–0.920 EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Wednesday, February 7th. The semiconductor company reported ($1.46) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.91) by $0.45. The firm had revenue of $86.85 million during the quarter, compared to analyst estimates of $85.32 million. Silicon Laboratories had a positive return on equity of 0.97% and a negative net margin of 4.41%. On average, analysts expect Silicon Laboratories to post $-2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Silicon Laboratories Trading Up 0.3 %

NASDAQ:SLAB opened at $124.73 on Wednesday. The firm has a market cap of $3.98 billion, a PE ratio of -110.38 and a beta of 1.27. The stock has a fifty day moving average price of $136.84 and a 200 day moving average price of $121.98. Silicon Laboratories has a 12-month low of $74.56 and a 12-month high of $172.94.

Analyst Ratings Changes

SLAB has been the subject of a number of recent research reports. Barclays lifted their target price on Silicon Laboratories from $120.00 to $140.00 and gave the company an “equal weight” rating in a report on Thursday, February 8th. Stifel Nicolaus lifted their price target on Silicon Laboratories from $136.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, January 2nd. JPMorgan Chase & Co. lifted their price target on Silicon Laboratories from $145.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. StockNews.com downgraded Silicon Laboratories from a “hold” rating to a “sell” rating in a report on Friday, December 29th. Finally, TD Cowen lifted their price target on Silicon Laboratories from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $143.29.

Hedge Funds Weigh In On Silicon Laboratories

Institutional investors have recently added to or reduced their stakes in the stock. Belpointe Asset Management LLC increased its position in Silicon Laboratories by 72.5% in the 1st quarter. Belpointe Asset Management LLC now owns 207 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 87 shares during the period. Live Oak Investment Partners purchased a new stake in shares of Silicon Laboratories during the 4th quarter worth approximately $39,000. Public Employees Retirement System of Ohio boosted its stake in shares of Silicon Laboratories by 27.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 468 shares of the semiconductor company’s stock worth $62,000 after acquiring an additional 101 shares in the last quarter. KBC Group NV purchased a new stake in shares of Silicon Laboratories during the 4th quarter worth approximately $64,000. Finally, Covestor Ltd boosted its stake in shares of Silicon Laboratories by 214.8% during the 1st quarter. Covestor Ltd now owns 554 shares of the semiconductor company’s stock worth $83,000 after acquiring an additional 378 shares in the last quarter.

Silicon Laboratories Company Profile

Silicon Laboratories Inc, a fabless semiconductor company, provides various analog-intensive mixed-signal solutions in the United States, China, Taiwan, and internationally. The company's products include wireless microcontrollers and sensor products. Its products are used in various electronic products in a range of applications for the industrial Internet of Things (IoT), including industrial automation and control, smart buildings, access control, HVAC control, and industrial wearables and power tools; smart cities applications, such as smart metering, smart street lighting, renewable energy, electric vehicle supply equipment, and smart agriculture; commercial IoT applications, including smart lighting, asset tracking, electronic shelf labels, theft protection, and enterprise access points; smart home applications, comprising home automation/security systems, smart speakers, smart lighting, HVAC control, smart cameras, smart appliances, smart home sensing, smart locks, and window/blind controls; and connected health applications, including diabetes management, consumer health and fitness, elderly care, patient monitoring, and activity tracking; as well as in commercial building automation, consumer electronics, and medical instrumentation.