$196.00 Million in Sales Expected for Silicon Laboratories, Inc. (SLAB) This Quarter
Brokerages forecast that Silicon Laboratories, Inc. (NASDAQ:SLAB) will announce $196.00 million in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Silicon Laboratories’ earnings. The lowest sales estimate is $195.50 million and the highest is $196.50 million. Silicon Laboratories posted sales of $178.08 million during the same quarter last year, which suggests a positive year-over-year growth rate of 10.1%. The company is scheduled to report its next quarterly earnings report on Wednesday, October 25th.
On average, analysts expect that Silicon Laboratories will report full year sales of $196.00 million for the current year, with estimates ranging from $753.40 million to $763.12 million. For the next year, analysts forecast that the business will report sales of $822.14 million per share, with estimates ranging from $816.60 million to $828.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow Silicon Laboratories.
Silicon Laboratories (NASDAQ:SLAB) last issued its earnings results on Wednesday, July 26th. The semiconductor company reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.08. The business had revenue of $190.10 million during the quarter, compared to analysts’ expectations of $186.46 million. Silicon Laboratories had a net margin of 9.88% and a return on equity of 11.15%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.75 earnings per share.
SLAB has been the subject of several analyst reports. Zacks Investment Research raised shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a research note on Saturday, August 26th. BidaskClub raised shares of Silicon Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday, August 16th. B. Riley reissued a “buy” rating and issued a $90.00 target price on shares of Silicon Laboratories in a research note on Friday, July 28th. Stifel Nicolaus reissued a “buy” rating and issued a $85.00 target price (up previously from $82.00) on shares of Silicon Laboratories in a research note on Thursday, July 27th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $85.00 target price (up previously from $80.00) on shares of Silicon Laboratories in a research note on Thursday, July 27th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $80.10.
Shares of Silicon Laboratories (NASDAQ SLAB) opened at 78.45 on Friday. The firm has a market capitalization of $3.34 billion, a PE ratio of 46.78 and a beta of 1.25. The stock has a 50 day moving average of $75.24 and a 200-day moving average of $72.55. Silicon Laboratories has a 12 month low of $55.04 and a 12 month high of $79.15.
In related news, CFO John C. Hollister sold 2,000 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $73.30, for a total transaction of $146,600.00. Following the completion of the sale, the chief financial officer now owns 68,767 shares of the company’s stock, valued at approximately $5,040,621.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William P. Wood sold 5,000 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $68.55, for a total transaction of $342,750.00. Following the sale, the director now directly owns 30,526 shares of the company’s stock, valued at approximately $2,092,557.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,500 shares of company stock valued at $1,720,650. Corporate insiders own 34.82% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd acquired a new stake in Silicon Laboratories during the 2nd quarter worth approximately $630,000. Verition Fund Management LLC acquired a new stake in Silicon Laboratories during the 2nd quarter worth approximately $1,299,000. Grandeur Peak Global Advisors LLC increased its position in Silicon Laboratories by 1.2% during the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 134,440 shares of the semiconductor company’s stock worth $9,189,000 after purchasing an additional 1,600 shares in the last quarter. Piedmont Investment Advisors LLC increased its position in Silicon Laboratories by 28.4% during the 2nd quarter. Piedmont Investment Advisors LLC now owns 25,055 shares of the semiconductor company’s stock worth $1,713,000 after purchasing an additional 5,541 shares in the last quarter. Finally, Ameritas Investment Partners Inc. increased its position in Silicon Laboratories by 0.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 16,220 shares of the semiconductor company’s stock worth $1,109,000 after purchasing an additional 119 shares in the last quarter. 88.98% of the stock is owned by hedge funds and other institutional investors.
Silicon Laboratories Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Silicon Laboratories Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silicon Laboratories Inc. and related companies with MarketBeat.com's FREE daily email newsletter.