Silicon Laboratories (NASDAQ:SLAB) Issues Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Key Points

• Silicon Laboratories reported Q1 EPS of $0.53, beating estimates by $0.04, but revenue of $213.5M slightly missed expectations and the company still posted a negative net margin (-8.27%) and negative ROE.
• The stock rose about 0.6% to $218.27 (market cap ~$7.2B), trading near its 1-year high on below-average volume.
• Most analysts rate SLAB a "Hold" with an average price target of $167.78, even as major institutions (AQR, Squarepoint, Adage, Goldman, Mackenzie) recently increased their stakes.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) posted its earnings results on Tuesday. The semiconductor company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.49 by $0.04, FiscalAI reports. Silicon Laboratories had a negative net margin of 8.27% and a negative return on equity of 4.07%. The business had revenue of $213.50 million for the quarter, compared to the consensus estimate of $214.02 million.

Silicon Laboratories Trading Up 0.6%

NASDAQ:SLAB traded up $1.27 on Tuesday, reaching $218.27. 477,116 shares of the stock traded hands, compared to its average volume of 657,216. The firm has a market capitalization of $7.20 billion, a price-to-earnings ratio of -109.68 and a beta of 1.40. The company's 50 day moving average is $208.19 and its 200-day moving average is $166.94. Silicon Laboratories has a 1-year low of $102.82 and a 1-year high of $218.68.

Institutional Trading of Silicon Laboratories

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLAB. AQR Capital Management LLC increased its position in Silicon Laboratories by 1,970.7% during the 2nd quarter. AQR Capital Management LLC now owns 370,492 shares of the semiconductor company's stock valued at $54,516,000 after purchasing an additional 352,600 shares during the period. Squarepoint Ops LLC increased its position in Silicon Laboratories by 113.6% during the 3rd quarter. Squarepoint Ops LLC now owns 358,016 shares of the semiconductor company's stock valued at $46,947,000 after purchasing an additional 190,421 shares during the period. Adage Capital Partners GP L.L.C. increased its position in Silicon Laboratories by 32.6% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 616,475 shares of the semiconductor company's stock valued at $80,573,000 after purchasing an additional 151,664 shares during the period. Goldman Sachs Group Inc. increased its position in Silicon Laboratories by 25.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 592,236 shares of the semiconductor company's stock valued at $77,405,000 after purchasing an additional 119,138 shares during the period. Finally, Mackenzie Financial Corp increased its position in Silicon Laboratories by 84.1% during the 4th quarter. Mackenzie Financial Corp now owns 259,173 shares of the semiconductor company's stock valued at $34,374,000 after purchasing an additional 118,380 shares during the period.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SLAB. Needham & Company LLC downgraded shares of Silicon Laboratories from a "buy" rating to a "hold" rating in a research note on Wednesday, February 4th. Citigroup increased their price objective on Silicon Laboratories from $135.00 to $231.00 and gave the company a "neutral" rating in a report on Friday, February 6th. Benchmark lowered Silicon Laboratories from a "buy" rating to a "hold" rating in a research report on Wednesday, February 4th. Royal Bank Of Canada lifted their target price on Silicon Laboratories from $160.00 to $205.00 and gave the stock a "sector perform" rating in a report on Thursday, February 5th. Finally, KeyCorp lowered Silicon Laboratories from an "overweight" rating to a "hold" rating in a research report on Wednesday, February 4th. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Silicon Laboratories presently has an average rating of "Hold" and an average price target of $167.78.

About Silicon Laboratories

Silicon Laboratories NASDAQ: SLAB is a global semiconductor company that develops high-performance analog and mixed-signal integrated circuits, wireless system-on-chips (SoCs), microcontrollers, and radio frequency (RF) solutions. Its product portfolio is tailored to support the Internet of Things (IoT), infrastructure, industrial automation, consumer electronics, automotive, and energy markets. By combining silicon, software, and tools, Silicon Labs aims to accelerate development cycles and deliver low-power, highly integrated solutions that address demanding application requirements.

Founded in 1996 and headquartered in Austin, Texas, Silicon Labs has grown into a multinational organization with engineering and sales operations across North America, Europe, and Asia.

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