Silicon Laboratories (SLAB) Set to Announce Earnings on Wednesday

Silicon Laboratories (NASDAQ:SLAB) is scheduled to announce its earnings results before the market opens on Wednesday, April 24th. Analysts expect the company to announce earnings of ($0.98) per share for the quarter. Silicon Laboratories has set its Q1 2024 guidance at -1.040–0.920 EPS.Investors that are interested in participating in the company’s conference call can do so using this link.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings results on Wednesday, February 7th. The semiconductor company reported ($1.46) EPS for the quarter, topping the consensus estimate of ($1.91) by $0.45. Silicon Laboratories had a negative net margin of 4.41% and a positive return on equity of 0.97%. The company had revenue of $86.85 million during the quarter, compared to analysts’ expectations of $85.32 million. On average, analysts expect Silicon Laboratories to post $-2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Silicon Laboratories Price Performance

Shares of NASDAQ:SLAB opened at $115.19 on Monday. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of -101.94 and a beta of 1.27. The company has a 50 day moving average of $135.65 and a 200-day moving average of $122.06. Silicon Laboratories has a one year low of $74.56 and a one year high of $169.76.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. StockNews.com lowered shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. Stifel Nicolaus lifted their price target on shares of Silicon Laboratories from $136.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, January 2nd. TD Cowen boosted their price objective on shares of Silicon Laboratories from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. Barclays boosted their price objective on shares of Silicon Laboratories from $120.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Silicon Laboratories from $145.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Silicon Laboratories presently has a consensus rating of “Hold” and an average price target of $143.29.

Hedge Funds Weigh In On Silicon Laboratories

Several institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank acquired a new stake in Silicon Laboratories during the fourth quarter worth about $34,161,000. Renaissance Technologies LLC raised its holdings in Silicon Laboratories by 338.0% in the 1st quarter. Renaissance Technologies LLC now owns 232,998 shares of the semiconductor company’s stock valued at $34,996,000 after buying an additional 179,800 shares during the last quarter. Vanguard Group Inc. increased its position in Silicon Laboratories by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 3,464,163 shares of the semiconductor company’s stock valued at $458,205,000 after purchasing an additional 179,131 shares during the period. Cubist Systematic Strategies LLC increased its position in Silicon Laboratories by 601.7% during the 1st quarter. Cubist Systematic Strategies LLC now owns 154,600 shares of the semiconductor company’s stock valued at $27,069,000 after purchasing an additional 132,567 shares during the period. Finally, Balyasny Asset Management L.P. increased its position in Silicon Laboratories by 157.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 178,677 shares of the semiconductor company’s stock valued at $23,634,000 after purchasing an additional 109,383 shares during the period.

Silicon Laboratories Company Profile

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.