Zacks: Brokerages Expect Silicon Laboratories, Inc. (SLAB) to Post $0.50 EPS
Brokerages expect Silicon Laboratories, Inc. (NASDAQ:SLAB) to post earnings of $0.50 per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Silicon Laboratories’ earnings, with the lowest EPS estimate coming in at $0.49 and the highest estimate coming in at $0.51. Silicon Laboratories posted earnings per share of $0.52 during the same quarter last year, which suggests a negative year-over-year growth rate of 3.8%. The business is scheduled to report its next quarterly earnings report before the market opens 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 year, with EPS estimates ranging from $1.98 to $2.07. For the next year, analysts forecast that the company will report earnings of $2.47 per share. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Silicon Laboratories.
Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings results on Wednesday, April 26th. The semiconductor company reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.23. Silicon Laboratories had a return on equity of 11.36% and a net margin of 9.95%. The business had revenue of $179 million for the quarter, compared to analysts’ expectations of $176.89 million. During the same quarter in the previous year, the firm posted $0.51 earnings per share. The company’s revenue was up 10.5% compared to the same quarter last year.
SLAB has been the subject of several research reports. Zacks Investment Research cut shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a research note on Friday, April 28th. DA Davidson increased their target price on shares of Silicon Laboratories from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, April 26th. Canaccord Genuity reiterated a “buy” rating and issued a $83.00 target price on shares of Silicon Laboratories in a research note on Thursday, April 27th. BidaskClub cut shares of Silicon Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 16th. Finally, Stifel Nicolaus increased their target price on shares of Silicon Laboratories from $80.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, May 1st. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $77.18.
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In related news, Director Nina Richardson sold 1,669 shares of the stock in a transaction dated Friday, April 21st. The shares were sold at an average price of $72.35, for a total value of $120,752.15. Following the completion of the transaction, the director now owns 4,371 shares of the company’s stock, valued at $316,241.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John C. Hollister sold 2,000 shares of the stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $68.25, for a total transaction of $136,500.00. Following the completion of the transaction, the chief financial officer now directly owns 70,767 shares of the company’s stock, valued at approximately $4,829,847.75. The disclosure for this sale can be found here. Insiders sold 126,995 shares of company stock valued at $9,327,839 in the last three months. Company insiders own 34.82% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. raised its position in Silicon Laboratories by 3.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,685 shares of the semiconductor company’s stock valued at $124,000 after buying an additional 49 shares during the period. Pier 88 Investment Partners LLC acquired a new position in Silicon Laboratories during the second quarter valued at about $187,000. Capstone Asset Management Co. acquired a new position in Silicon Laboratories during the first quarter valued at about $222,000. Oppenheimer Asset Management Inc. acquired a new position in Silicon Laboratories during the first quarter valued at about $224,000. Finally, LS Investment Advisors LLC raised its stake in Silicon Laboratories by 18.0% in the second quarter. LS Investment Advisors LLC now owns 3,355 shares of the semiconductor company’s stock valued at $229,000 after buying an additional 512 shares during the last quarter. 90.62% of the stock is owned by hedge funds and other institutional investors.
Silicon Laboratories (NASDAQ:SLAB) traded up 0.92% on Thursday, hitting $71.50. The company had a trading volume of 180,325 shares. The stock has a market cap of $3.03 billion, a P/E ratio of 42.87 and a beta of 1.23. Silicon Laboratories has a 12-month low of $50.10 and a 12-month high of $78.45. The firm’s 50 day moving average price is $71.05 and its 200 day moving average price is $70.91.
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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