Zacks: Analysts Expect Silicon Laboratories (NASDAQ:SLAB) Will Announce Quarterly Sales of $200.07 Million

Equities research analysts predict that Silicon Laboratories (NASDAQ:SLAB) will report $200.07 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Silicon Laboratories’ earnings. The lowest sales estimate is $200.00 million and the highest is $200.26 million. Silicon Laboratories reported sales of $206.71 million in the same quarter last year, which indicates a negative year over year growth rate of 3.2%. The company is expected to issue its next quarterly earnings report before the market opens on Wednesday, July 22nd.

According to Zacks, analysts expect that Silicon Laboratories will report full year sales of $831.47 million for the current fiscal year, with estimates ranging from $820.00 million to $839.20 million. For the next financial year, analysts expect that the firm will report sales of $911.24 million, with estimates ranging from $873.24 million to $943.20 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Silicon Laboratories.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings results on Wednesday, April 29th. The semiconductor company reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.17. Silicon Laboratories had a return on equity of 8.89% and a net margin of 1.86%. The company had revenue of $214.90 million during the quarter, compared to analysts’ expectations of $202.21 million. During the same period in the prior year, the company earned $0.59 EPS. Silicon Laboratories’s revenue was up 14.2% compared to the same quarter last year.

A number of research firms have issued reports on SLAB. Needham & Company LLC began coverage on Silicon Laboratories in a research note on Wednesday, April 29th. They set a “buy” rating and a $120.00 price target for the company. Benchmark lifted their price target on Silicon Laboratories from $100.00 to $118.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. ValuEngine downgraded Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, May 1st. Cowen lifted their price target on Silicon Laboratories from $100.00 to $115.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Finally, BidaskClub upgraded Silicon Laboratories from a “sell” rating to a “hold” rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. Silicon Laboratories has a consensus rating of “Hold” and a consensus price target of $114.13.

In related news, Director Nina Richardson sold 775 shares of Silicon Laboratories stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $86.56, for a total value of $67,084.00. Following the sale, the director now owns 5,197 shares of the company’s stock, valued at approximately $449,852.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John C. Hollister sold 10,000 shares of Silicon Laboratories stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $96.38, for a total transaction of $963,800.00. Following the completion of the sale, the chief financial officer now directly owns 61,555 shares in the company, valued at approximately $5,932,670.90. The disclosure for this sale can be found here. 2.33% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of SLAB. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Silicon Laboratories by 222.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 271 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 187 shares during the period. Asset Management One Co. Ltd. bought a new stake in Silicon Laboratories during the 1st quarter valued at $53,000. Robecosam AG raised its holdings in Silicon Laboratories by 3.7% during the 4th quarter. Robecosam AG now owns 223,000 shares of the semiconductor company’s stock valued at $116,000 after acquiring an additional 8,000 shares during the period. Pendal Group Ltd raised its holdings in Silicon Laboratories by 432.6% during the 1st quarter. Pendal Group Ltd now owns 1,731 shares of the semiconductor company’s stock valued at $148,000 after acquiring an additional 1,406 shares during the period. Finally, Chicago Equity Partners LLC bought a new stake in Silicon Laboratories during the 4th quarter valued at $219,000. 91.98% of the stock is currently owned by institutional investors.

Shares of SLAB traded up $0.28 during trading hours on Friday, hitting $102.55. The stock had a trading volume of 268,900 shares, compared to its average volume of 324,653. The firm has a market capitalization of $4.48 billion, a P/E ratio of 47.26, a price-to-earnings-growth ratio of 5.43 and a beta of 1.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.79 and a quick ratio of 2.64. Silicon Laboratories has a 1-year low of $65.09 and a 1-year high of $122.90. The firm has a 50 day simple moving average of $96.73 and a 200-day simple moving average of $97.73.

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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