Silicon Laboratories (NASDAQ:SLAB – Get Free Report) announced its quarterly earnings data on Wednesday. The semiconductor company reported ($0.56) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.08, Briefing.com reports. Silicon Laboratories had a negative net margin of 16.36% and a negative return on equity of 4.45%. The company had revenue of $145.40 million during the quarter, compared to analyst estimates of $140.18 million. During the same quarter last year, the business posted $0.59 EPS. The firm’s revenue for the quarter was down 40.6% on a year-over-year basis. Silicon Laboratories updated its Q3 guidance to ($0.10)-($0.30) EPS and its Q3 2024 guidance to -0.300–0.100 EPS.
Silicon Laboratories Price Performance
Shares of NASDAQ:SLAB traded up $1.18 during trading hours on Thursday, hitting $116.61. The company’s stock had a trading volume of 667,556 shares, compared to its average volume of 316,903. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of -35.23 and a beta of 1.20. The firm’s fifty day moving average price is $118.70 and its 200 day moving average price is $126.53. Silicon Laboratories has a 52 week low of $74.56 and a 52 week high of $154.91.
Insider Buying and Selling
In related news, CEO Robert Matthew Johnson sold 7,230 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $123.80, for a total transaction of $895,074.00. Following the completion of the transaction, the chief executive officer now owns 47,910 shares in the company, valued at approximately $5,931,258. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.72% of the stock is currently owned by company insiders.
Analyst Ratings Changes
View Our Latest Analysis on SLAB
About Silicon Laboratories
Silicon Laboratories Inc, a fabless semiconductor company, provides various analog-intensive mixed-signal solutions in the United States, China, Taiwan, and internationally. The company's products include wireless microcontrollers and sensor products. Its products are used in various electronic products in a range of applications for the industrial Internet of Things (IoT), including industrial automation and control, smart buildings, access control, HVAC control, and industrial wearables and power tools; smart cities applications, such as smart metering, smart street lighting, renewable energy, electric vehicle supply equipment, and smart agriculture; commercial IoT applications, including smart lighting, asset tracking, electronic shelf labels, theft protection, and enterprise access points; smart home applications, comprising home automation/security systems, smart speakers, smart lighting, HVAC control, smart cameras, smart appliances, smart home sensing, smart locks, and window/blind controls; and connected health applications, including diabetes management, consumer health and fitness, elderly care, patient monitoring, and activity tracking; as well as in commercial building automation, consumer electronics, and medical instrumentation.
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