Analysts Expect Silicon Laboratories, Inc. (SLAB) to Announce $0.50 Earnings Per Share
Analysts predict that Silicon Laboratories, Inc. (NASDAQ:SLAB) will announce earnings per share of $0.50 for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Silicon Laboratories’ earnings, with the highest EPS estimate coming in at $0.51 and the lowest estimate coming in at $0.49. Silicon Laboratories reported earnings per share of $0.52 in the same quarter last year, which suggests a negative year over year growth rate of 3.8%. The company is scheduled to issue its next quarterly earnings results on Wednesday, July 26th.
According to Zacks, analysts expect that Silicon Laboratories will report full year earnings of $2.03 per share for the current financial year, with EPS estimates ranging from $1.98 to $2.07. For the next fiscal year, analysts forecast that the business will report earnings of $2.47 per share. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Silicon Laboratories.
Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings data on Wednesday, April 26th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.23. The business had revenue of $179 million for the quarter, compared to analysts’ expectations of $176.89 million. Silicon Laboratories had a net margin of 9.95% and a return on equity of 11.36%. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period last year, the firm posted $0.51 earnings per share.
A number of brokerages have recently commented on SLAB. Canaccord Genuity reissued a “buy” rating and issued a $83.00 price target on shares of Silicon Laboratories in a report on Thursday, April 27th. B. Riley reaffirmed a “buy” rating and set a $81.00 target price on shares of Silicon Laboratories in a report on Wednesday, April 26th. Zacks Investment Research lowered shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a report on Friday, April 28th. DA Davidson raised their price target on shares of Silicon Laboratories from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, April 26th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $82.00 price target on shares of Silicon Laboratories in a report on Tuesday, June 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $77.18.
In other Silicon Laboratories news, Director William P. Wood sold 5,000 shares of Silicon Laboratories stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $73.60, for a total transaction of $368,000.00. Following the transaction, the director now owns 32,824 shares of the company’s stock, valued at $2,415,846.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nina Richardson sold 1,669 shares of Silicon Laboratories stock in a transaction that occurred on Friday, April 21st. The shares were sold at an average price of $72.35, for a total transaction of $120,752.15. Following the transaction, the director now directly owns 4,371 shares in the company, valued at approximately $316,241.85. The disclosure for this sale can be found here. Insiders have sold 124,995 shares of company stock valued at $9,216,589 over the last 90 days. 34.82% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the stock. State Treasurer State of Michigan increased its position in shares of Silicon Laboratories by 1.2% in the first quarter. State Treasurer State of Michigan now owns 17,000 shares of the semiconductor company’s stock valued at $1,250,000 after buying an additional 200 shares in the last quarter. Geneva Advisors LLC purchased a new position in shares of Silicon Laboratories during the first quarter valued at $634,000. Profund Advisors LLC increased its position in shares of Silicon Laboratories by 10.0% in the first quarter. Profund Advisors LLC now owns 14,242 shares of the semiconductor company’s stock valued at $1,047,000 after buying an additional 1,296 shares in the last quarter. Comerica Bank increased its position in shares of Silicon Laboratories by 5.8% in the fourth quarter. Comerica Bank now owns 31,407 shares of the semiconductor company’s stock valued at $2,144,000 after buying an additional 1,713 shares in the last quarter. Finally, Capstone Asset Management Co. purchased a new position in shares of Silicon Laboratories during the first quarter valued at $222,000. 89.84% of the stock is currently owned by institutional investors and hedge funds.
Shares of Silicon Laboratories (NASDAQ SLAB) traded down 1.960% on Monday, reaching $68.775. 149,479 shares of the company were exchanged. The stock has a market capitalization of $2.91 billion, a PE ratio of 41.232 and a beta of 1.25. The firm has a 50 day moving average price of $73.39 and a 200-day moving average price of $70.56. Silicon Laboratories has a 12-month low of $44.52 and a 12-month high of $78.45.
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About Silicon Laboratories
Silicon Laboratories Inc is a provider of silicon, software and solutions for the Internet of Things (IoT), Internet infrastructure, industrial, consumer and automotive markets. The Company operates through mixed-signal analog intensive products segment. It provides analog-intensive, mixed-signal solutions for use in a range of electronic products in various applications for the IoT market.
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