$267.10 Million in Sales Expected for Silicon Laboratories Inc. (NASDAQ:SLAB) This Quarter

Brokerages expect that Silicon Laboratories Inc. (NASDAQ:SLAB) will announce sales of $267.10 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Silicon Laboratories’ earnings, with the highest sales estimate coming in at $267.29 million and the lowest estimate coming in at $267.00 million. Silicon Laboratories reported sales of $207.53 million during the same quarter last year, which would suggest a positive year over year growth rate of 28.7%. The company is scheduled to issue its next earnings report before the market opens on Wednesday, July 28th.

On average, analysts expect that Silicon Laboratories will report full-year sales of $1.07 billion for the current year, with estimates ranging from $1.06 billion to $1.08 billion. For the next year, analysts anticipate that the company will report sales of $1.18 billion, with estimates ranging from $1.15 billion to $1.22 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Silicon Laboratories.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings data on Wednesday, April 28th. The semiconductor company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.29. Silicon Laboratories had a net margin of 2.57% and a return on equity of 8.14%. The firm had revenue of $255.50 million during the quarter, compared to analyst estimates of $242.11 million. During the same quarter last year, the business posted $0.71 EPS. The company’s revenue was up 18.8% on a year-over-year basis.

SLAB has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $155.00 price objective on shares of Silicon Laboratories in a research note on Wednesday, May 5th. Needham & Company LLC reaffirmed a “buy” rating on shares of Silicon Laboratories in a research note on Friday, April 23rd. Morgan Stanley lifted their target price on shares of Silicon Laboratories from $156.00 to $160.00 and gave the company an “equal weight” rating in a research note on Thursday, April 29th. Citigroup lowered shares of Silicon Laboratories from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 19th. Finally, Zacks Investment Research lowered shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Thursday, July 1st. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Silicon Laboratories has an average rating of “Hold” and a consensus target price of $164.92.

In other Silicon Laboratories news, Director Sumit Sadana purchased 1,000 shares of the business’s stock in a transaction dated Wednesday, May 26th. The shares were acquired at an average price of $132.80 per share, for a total transaction of $132,800.00. Following the acquisition, the director now owns 10,281 shares of the company’s stock, valued at $1,365,316.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.12% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its holdings in Silicon Laboratories by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 432,616 shares of the semiconductor company’s stock worth $55,090,000 after acquiring an additional 4,540 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Silicon Laboratories by 78.3% during the 1st quarter. Renaissance Technologies LLC now owns 64,198 shares of the semiconductor company’s stock worth $9,056,000 after purchasing an additional 28,200 shares during the period. Cresset Asset Management LLC increased its holdings in shares of Silicon Laboratories by 19.3% during the 1st quarter. Cresset Asset Management LLC now owns 3,838 shares of the semiconductor company’s stock worth $542,000 after purchasing an additional 622 shares during the period. Eqis Capital Management Inc. bought a new position in shares of Silicon Laboratories during the 1st quarter worth about $233,000. Finally, XTX Topco Ltd bought a new position in shares of Silicon Laboratories during the 1st quarter worth about $431,000. Hedge funds and other institutional investors own 92.48% of the company’s stock.

Silicon Laboratories stock traded down $3.65 during midday trading on Friday, reaching $144.01. The stock had a trading volume of 15,723 shares, compared to its average volume of 248,978. The firm has a fifty day moving average of $140.26. Silicon Laboratories has a twelve month low of $92.19 and a twelve month high of $163.43. The company has a debt-to-equity ratio of 0.36, a quick ratio of 5.18 and a current ratio of 5.71. The firm has a market cap of $6.44 billion, a price-to-earnings ratio of 283.97, a price-to-earnings-growth ratio of 8.12 and a beta of 0.99.

Silicon Laboratories Company Profile

Silicon Laboratories, Inc designs and develops analog-intensive and mixed-signal integrated circuits. The firm offers microcontrollers, wireless, sensors, USB bridges, analog, clocks and oscillators, isolators, power, audio and radio, modems and TV and video product categories. It provides solutions for automotive, communications, data centers, healthcare & fitness, home automation & entertainment, industrial automation & power and retail industries.

Further Reading: Beta

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