Brokerages expect Silicon Laboratories, Inc. (NASDAQ:SLAB) to report sales of $196.20 million for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Silicon Laboratories’ earnings. The highest sales estimate is $197.00 million and the lowest is $195.50 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 10.2%. The company is scheduled to report its next quarterly earnings results on Wednesday, October 25th.
On average, analysts expect that Silicon Laboratories will report full-year sales of $196.20 million for the current fiscal year, with estimates ranging from $760.73 million to $764.00 million. For the next fiscal year, analysts anticipate that the firm will post sales of $824.70 million per share, with estimates ranging from $816.60 million to $830.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Silicon Laboratories.
Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.08. The firm had revenue of $190.10 million for 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 business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the company posted $0.75 EPS.
SLAB has been the subject of a number of research reports. BidaskClub upgraded shares of Silicon Laboratories from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. Zacks Investment Research upgraded shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research report on Thursday, August 3rd. B. Riley restated a “buy” rating and set a $90.00 target price on shares of Silicon Laboratories in a research report on Friday, July 28th. Stifel Nicolaus restated a “buy” rating and set a $85.00 target price (up previously from $82.00) on shares of Silicon Laboratories in a research report on Thursday, July 27th. Finally, Needham & Company LLC restated a “buy” rating and set a $85.00 target price (up previously from $80.00) on shares of Silicon Laboratories in a research report on Thursday, July 27th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $82.44.
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In related news, Director William P. Wood sold 5,000 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $76.35, for a total transaction of $381,750.00. Following the sale, the director now owns 30,526 shares of the company’s stock, valued at $2,330,660.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO George Tyson Tuttle sold 13,594 shares of the company’s stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $80.07, for a total transaction of $1,088,471.58. Following the sale, the chief executive officer now directly owns 183,592 shares in the company, valued at approximately $14,700,211.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,500 shares of company stock worth $3,800,679. 34.82% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in SLAB. Quantbot Technologies LP purchased a new stake in Silicon Laboratories during the second quarter valued at $102,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Silicon Laboratories by 10.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,623 shares of the semiconductor company’s stock valued at $111,000 after purchasing an additional 148 shares in the last quarter. Riverhead Capital Management LLC raised its stake in Silicon Laboratories by 76.7% during the second quarter. Riverhead Capital Management LLC now owns 2,297 shares of the semiconductor company’s stock valued at $157,000 after purchasing an additional 997 shares in the last quarter. Pier 88 Investment Partners LLC purchased a new stake in Silicon Laboratories during the second quarter valued at $187,000. Finally, BT Investment Management Ltd purchased a new stake in Silicon Laboratories during the second quarter valued at $202,000. 88.99% of the stock is currently owned by institutional investors.
Silicon Laboratories (NASDAQ:SLAB) traded up 0.48% during mid-day trading on Friday, hitting $83.85. 83,901 shares of the stock traded hands. Silicon Laboratories has a 12 month low of $55.97 and a 12 month high of $84.05. The company’s 50 day moving average is $77.75 and its 200 day moving average is $73.77. The company has a market cap of $3.57 billion, a P/E ratio of 50.00 and a beta of 1.28.
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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