Zacks: Analysts Anticipate Silicon Laboratories, Inc. (SLAB) Will Announce Quarterly Sales of $197.89 Million

Brokerages expect Silicon Laboratories, Inc. (NASDAQ:SLAB) to announce sales of $197.89 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Silicon Laboratories’ earnings, with the highest sales estimate coming in at $198.45 million and the lowest estimate coming in at $197.10 million. Silicon Laboratories reported sales of $182.61 million in the same quarter last year, which indicates a positive year over year growth rate of 8.4%. The firm is expected to report its next earnings report before the market opens on Wednesday, January 31st.

On average, analysts expect that Silicon Laboratories will report full-year sales of $197.89 million for the current financial year, with estimates ranging from $764.90 million to $766.30 million. For the next financial year, analysts forecast that the firm will post sales of $827.63 million per share, with estimates ranging from $823.00 million to $835.30 million. Zacks Investment Research’s sales calculations 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, October 25th. The semiconductor company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.09. Silicon Laboratories had a return on equity of 11.06% and a net margin of 9.60%. The business had revenue of $198.70 million for the quarter, compared to the consensus estimate of $196.20 million. During the same quarter in the prior year, the company earned $0.77 EPS. The business’s revenue was up 11.6% compared to the same quarter last year.

A number of equities analysts have recently issued reports on the company. Drexel Hamilton reissued a “buy” rating and set a $103.00 price target (up previously from $85.00) on shares of Silicon Laboratories in a research report on Wednesday, October 25th. Roth Capital increased their price target on Silicon Laboratories from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, October 24th. BidaskClub downgraded Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Needham & Company LLC reissued a “buy” rating and set a $110.00 price target on shares of Silicon Laboratories in a research report on Monday, December 11th. Finally, Canaccord Genuity increased their price target on Silicon Laboratories from $95.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $100.89.

In other Silicon Laboratories news, Director William G. Bock sold 2,500 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $89.24, for a total value of $223,100.00. Following the completion of the sale, the director now directly owns 43,426 shares in the company, valued at $3,875,336.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director William P. Wood sold 5,000 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $91.30, for a total value of $456,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,700 shares of company stock worth $1,160,750. 34.82% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in SLAB. Wells Fargo & Company MN raised its stake in Silicon Laboratories by 32.9% in the second quarter. Wells Fargo & Company MN now owns 107,484 shares of the semiconductor company’s stock valued at $7,346,000 after buying an additional 26,635 shares during the last quarter. Riverhead Capital Management LLC raised its stake in Silicon Laboratories by 76.7% in the second quarter. Riverhead Capital Management LLC now owns 2,297 shares of the semiconductor company’s stock valued at $157,000 after buying an additional 997 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Silicon Laboratories by 29.4% in the second quarter. Ameriprise Financial Inc. now owns 261,658 shares of the semiconductor company’s stock valued at $17,886,000 after buying an additional 59,520 shares during the last quarter. Nationwide Fund Advisors raised its stake in Silicon Laboratories by 1.5% in the second quarter. Nationwide Fund Advisors now owns 120,727 shares of the semiconductor company’s stock valued at $8,252,000 after buying an additional 1,751 shares during the last quarter. Finally, Amalgamated Bank raised its stake in Silicon Laboratories by 6.0% in the second quarter. Amalgamated Bank now owns 6,019 shares of the semiconductor company’s stock valued at $411,000 after buying an additional 342 shares during the last quarter. Institutional investors own 90.86% of the company’s stock.

Silicon Laboratories (NASDAQ:SLAB) traded up $0.35 on Tuesday, hitting $98.65. The stock had a trading volume of 179,400 shares, compared to its average volume of 222,971. Silicon Laboratories has a fifty-two week low of $63.75 and a fifty-two week high of $99.43. The company has a quick ratio of 5.20, a current ratio of 5.66 and a debt-to-equity ratio of 0.40. The company has a market cap of $4,184.15, a P/E ratio of 59.07, a price-to-earnings-growth ratio of 2.53 and a beta of 1.37.

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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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