Silicon Laboratories (SLAB) Releases Quarterly Earnings, Beats Expectations By $0.06 EPS
Silicon Laboratories (NASDAQ:SLAB) announced its earnings results on Wednesday. The company reported $0.49 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.43 by $0.06, AnalystRatings.Net reports. The company had revenue of $146.20 million for the quarter, compared to the consensus estimate of $142.98 million. During the same quarter last year, the company posted $0.61 earnings per share.
In other Silicon Laboratories news, Director Navdeep Sooch unloaded 18,041 shares of the stock on the open market in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $45.01, for a total transaction of $812,025.41. Following the completion of the transaction, the director now directly owns 770,840 shares of the company’s stock, valued at approximately $34,695,508. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of Silicon Laboratories (NASDAQ:SLAB) opened at 43.04 on Wednesday. Silicon Laboratories has a one year low of $37.57 and a one year high of $47.41. The stock’s 50-day moving average is $42.72 and its 200-day moving average is $41.28. The company has a market cap of $1.856 billion and a P/E ratio of 32.63.
SLAB has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Silicon Laboratories from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, December 24th. They now have a $43.10 price target on the stock. On a related note, analysts at Stephens initiated coverage on shares of Silicon Laboratories in a research note to investors on Friday, December 20th. They set an “equal weight” rating on the stock. Finally, analysts at Needham & Company raised their price target on shares of Silicon Laboratories from $43.00 to $47.00 in a research note to investors on Wednesday, December 18th. They now have a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $46.42.
Silicon Laboratories Inc designs and develops analog-intensive, mixed-signal and integrated circuits (NASDAQ:SLAB) for a broad range of applications.
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