Silicon Laboratories (SLAB) reported quarterly earnings results on Wednesday, Apr-27-2016. The company said it had a profit of $0.51 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $0.45. The company posted revenue of $162.00 million in the period, compared to analysts expectations of $159.78 million. The company’s revenue was down -1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS.
Many Wall Street Analysts have commented on Silicon Laboratories. Drexel Hamilton Initiated Silicon Laboratories on Mar 2, 2016 to “Buy”, Price Target of the shares are set at $49.Shares were Reiterated by Topeka Capital Markets on Feb 4, 2016 to “Buy” and Lowered the Price Target to $ 47 from a previous price target of $55 .Shares were Reiterated by MKM Partners on Feb 3, 2016 to “Neutral” and Lowered the Price Target to $ 51 from a previous price target of $52 .
Silicon Laboratories opened for trading at $44.66 and hit $46.1 on the upside on Friday, eventually ending the session at $45.79, with a gain of 1.89% or 0.85 points. The heightened volatility saw the trading volume jump to 2,09,390 shares. Company has a market cap of $1,903 M.
In a different news, on Nov 5, 2015, William P Wood (director) sold 5,000 shares at $50.25 per share price. According to the SEC, on Oct 20, 2015, Kurt W Hoff (Sr VP of Worldwide Sales) sold 665 shares at $46.03 per share price. On Aug 24, 2015, Jack R Lazar (director) purchased 3,500 shares at $42.04 per share price, according to the Form-4 filing with the securities and exchange commission.
Silicon Laboratories Inc. is a provider of silicon software and solutions for the Internet of things (IoT) Internet infrastructure industrial control consumer and automotive markets. The Company provides customers with advantages in performance energy savings connectivity and design simplicity. It provides developers with the tools and technologies they need to advance from initial idea to final product. The Company operates through mixed-signal analog intensive products consisting of numerous product areas segment. It serves IoT market including connected home smart lighting and smart energy applications. It provides a range of timing and isolation products for infrastructure applications including high-performance clocks and oscillators. It also provides broadcast products such as television tuners and demodulators and automotive radio tuners and access products including subscriber line interface circuits for voice over Internet Protocol and embedded modems.