Zacks: Brokerages Expect Silicon Laboratories (NASDAQ:SLAB) Will Announce Quarterly Sales of $218.32 Million

Equities analysts predict that Silicon Laboratories (NASDAQ:SLAB) will report sales of $218.32 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Silicon Laboratories’ earnings. The lowest sales estimate is $218.00 million and the highest is $219.58 million. Silicon Laboratories reported sales of $230.24 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 5.2%. The company is expected to announce its next quarterly earnings report on Wednesday, October 23rd.

On average, analysts expect that Silicon Laboratories will report full-year sales of $834.28 million for the current year, with estimates ranging from $831.17 million to $837.90 million. For the next financial year, analysts forecast that the firm will post sales of $918.52 million, with estimates ranging from $908.24 million to $925.00 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Silicon Laboratories.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.03. The business had revenue of $206.71 million during the quarter, compared to analyst estimates of $206.57 million. Silicon Laboratories had a net margin of 3.84% and a return on equity of 9.97%. The company’s revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.92 earnings per share.

A number of research analysts have recently weighed in on the company. BidaskClub cut Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Benchmark assumed coverage on Silicon Laboratories in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $120.00 price target for the company. Roth Capital raised their price target on Silicon Laboratories from $120.00 to $130.00 in a research report on Thursday, July 25th. Zacks Investment Research cut Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday, July 13th. Finally, Wells Fargo & Co assumed coverage on Silicon Laboratories in a research note on Tuesday, June 25th. They set an “outperform” rating and a $125.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Silicon Laboratories currently has a consensus rating of “Hold” and a consensus target price of $109.70.

In other Silicon Laboratories news, Director William G. Bock sold 1,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $103.35, for a total transaction of $103,350.00. Following the sale, the director now owns 38,791 shares of the company’s stock, valued at $4,009,049.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.10% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of SLAB. Victory Capital Management Inc. increased its position in shares of Silicon Laboratories by 137.8% in the first quarter. Victory Capital Management Inc. now owns 658,038 shares of the semiconductor company’s stock valued at $53,209,000 after acquiring an additional 381,340 shares during the last quarter. Jennison Associates LLC acquired a new stake in shares of Silicon Laboratories in the first quarter valued at approximately $15,704,000. Nuveen Asset Management LLC lifted its position in shares of Silicon Laboratories by 1,696.8% in the second quarter. Nuveen Asset Management LLC now owns 203,367 shares of the semiconductor company’s stock valued at $21,028,000 after buying an additional 192,049 shares during the last quarter. Price Wealth Management Inc. lifted its position in shares of Silicon Laboratories by 709.2% in the second quarter. Price Wealth Management Inc. now owns 114,100 shares of the semiconductor company’s stock valued at $11,798,000 after buying an additional 100,000 shares during the last quarter. Finally, Castleark Management LLC acquired a new stake in shares of Silicon Laboratories in the second quarter valued at approximately $8,659,000. 91.80% of the stock is currently owned by institutional investors and hedge funds.

Shares of SLAB stock opened at $104.52 on Tuesday. Silicon Laboratories has a fifty-two week low of $73.13 and a fifty-two week high of $115.29. The stock has a market cap of $4.76 billion, a P/E ratio of 45.75, a P/E/G ratio of 3.31 and a beta of 1.57. The business has a fifty day simple moving average of $106.85 and a 200-day simple moving average of $95.43. The company has a quick ratio of 5.91, a current ratio of 6.47 and a debt-to-equity ratio of 0.34.

Silicon Laboratories Company Profile

Silicon Laboratories Inc, a fabless semiconductor company, designs, develops, and markets mixed-signal integrated circuits (ICs) in the United States, China, and internationally. The company offers Internet of things products, including 8-bit mixed-signal, 32-bit wireless, and ultra-low-power 32-bit microcontrollers; wireless connectivity devices, such as multiprotocol wireless Gecko system-on-chip devices; real-time operating systems; sensor products comprising optical, relative humidity/temperature, and hall effect magnetic sensors.

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Earnings History and Estimates for Silicon Laboratories (NASDAQ:SLAB)

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