Silicon Labs 'Still In Early Stages Of Recovery,' CEO Says Citing Sharp Revenue Drop
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 24 2024
0mins
Should l Buy SLAB?
Source: Benzinga
- Financial Performance: Silicon Laboratories reported a 56.9% decrease in sales for the fiscal first quarter of 2024, beating the consensus expectations.
- Margins and Revenue: The company's adjusted gross margin and operating margin fell from a year ago, with Industrial & Commercial revenue at $65 million and Home & Life revenue at $41 million for the quarter.
- CFO Transition: Dean Butler will become the CFO on May 15, 2024, succeeding Mark Mauldin, who is currently the interim CFO.
- Outlook: Silicon Labs expects second-quarter revenue of $135 million - $145 million and projects an adjusted EPS loss of $(0.58) - $(0.70).
- Stock Performance: Silicon Laboratories stock has declined by 24% in the last 12 months, with shares trading lower premarket at $123.89. Investors can access the stock through specific ETFs.
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Analyst Views on SLAB
Wall Street analysts forecast SLAB stock price to fall
4 Analyst Rating
2 Buy
2 Hold
0 Sell
Moderate Buy
Current: 207.000
Low
130.00
Averages
143.75
High
160.00
Current: 207.000
Low
130.00
Averages
143.75
High
160.00
About SLAB
Silicon Laboratories Inc. is engaged in secure, intelligent wireless technology for a connected world. Its integrated hardware and software platform, intuitive development tools, ecosystem, and robust support help customers build advanced industrial, commercial, home, and life applications. It enables developers to solve complex wireless challenges throughout the product lifecycle. Its platform, purpose-built for the Internet of Things (IoT), helps customers create secure, intelligent, connected devices. Its semiconductor devices leverage standard complementary metal oxide semiconductor (CMOS), a widely available process technology. It provides analog-intensive, mixed-signal solutions for use in a variety of electronic products in a range of applications for the IoT. It has built a wireless development platform and product portfolio for the IoT based on Bluetooth, sub-GHz technologies, Wi - SUN, Thread, Wi-Fi, Zigbee and Z-Wave. It offers wireless microcontrollers and sensor products.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Cash Acquisition Proposal: Silicon Laboratories is expected to be sold to Texas Instruments for $231.00 per share, reflecting market recognition of Silicon's value, which may influence its shareholders' investment strategies.
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- Segment Performance: Industrial & Commercial revenue reached $122 million, up 37% year-over-year, while Home & Life revenue was $87 million, up 12%, showcasing the success of its diversified product lines.
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- Merger Investigation: Halper Sadeh LLC is investigating the merger between MasterCraft Boat Holdings, Inc. and Marine Products Corporation, where MasterCraft shareholders will own 66.5% of the combined entity upon completion, potentially impacting shareholder rights and future earnings.
- Acquisition Price Analysis: Silicon Laboratories Inc. is set to be sold to Texas Instruments for $231.00 per share in cash, a transaction that could significantly affect shareholder financial interests, prompting Halper Sadeh LLC to encourage shareholders to understand their legal rights.
- Cash and Stock Transaction: Webster Financial Corporation is being sold to Banco Santander for $48.75 in cash and 2.0548 Santander American Depository Shares per Webster common share, with terms that may limit competing offers, leading Halper Sadeh LLC to remind shareholders to be aware of their rights.
- Stock Exchange Transaction: Two Harbors Investment Corp. will sell to UWM Holdings Corporation for 2.3328 shares of UWM Class A Common Stock for each share of Two Harbors common stock, with Halper Sadeh LLC representing shareholders in seeking increased consideration and other relief measures to protect their interests.
See More
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- Investigation Focus: Halper Sadeh LLC is investigating Silicon Laboratories Inc. (NASDAQ: SLAB) regarding its sale to Texas Instruments for $231.00 per share, which may impact shareholder rights.
- Merger Details: Devon Energy Corporation (NYSE: DVN) is merging with Coterra Energy Inc., resulting in Devon shareholders owning approximately 54% of the combined entity, potentially affecting shareholder decision-making.
- Shareholder Rights Protection: Halper Sadeh LLC encourages shareholders to consult about their rights and options at no cost, highlighting the firm's commitment to protecting shareholder interests.
- Legal Service Commitment: The law firm operates on a contingent fee basis, ensuring shareholders do not incur upfront legal costs, thereby enhancing legal protections for investors.
See More
Investor Rights Law Firm Investigates Merger Transactions
- Merger Investigation: Halper Sadeh LLC is investigating the merger between MasterCraft Boat Holdings, Inc. and Marine Products Corporation, where MasterCraft shareholders are expected to own 66.5% of the combined entity, potentially impacting shareholder rights and future earnings.
- Acquisition Price Analysis: Silicon Laboratories Inc. is set to be sold to Texas Instruments for $231.00 per share in cash, a transaction that could significantly affect shareholder financial interests, prompting Halper Sadeh LLC to seek increased consideration.
- Shareholder Rights Protection: Marine Products Corporation shareholders will receive $2.43 in cash and 0.232 shares of MasterCraft common stock per share, with Halper Sadeh LLC encouraging shareholders to understand their legal rights and options to safeguard their interests.
- Legal Fee Arrangement: Halper Sadeh LLC offers legal services on a contingency fee basis, meaning shareholders will not incur out-of-pocket legal fees when addressing related matters, thereby reducing the financial burden on shareholders and enhancing accessibility to legal support.
See More
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- Legal Investigation: Halper Sadeh LLC is investigating Silicon Laboratories Inc. (NASDAQ: SLAB) regarding its sale to Texas Instruments for $231.00 per share, which may involve breaches of shareholder rights.
- Merger Impact Analysis: Devon Energy Corporation (NYSE: DVN) is merging with Coterra Energy Inc., resulting in Devon shareholders owning approximately 54% of the combined entity, potentially affecting their decision-making power and interests.
- Shareholder Rights Protection: The merger between Columbia Financial, Inc. (NASDAQ: CLBK) and Northfield Bancorp, Inc. is also under scrutiny, with Halper Sadeh LLC encouraging shareholders to understand their rights and options to safeguard their interests.
- Legal Fee Arrangement: Halper Sadeh LLC offers legal services on a contingency fee basis, meaning shareholders do not incur upfront legal costs when addressing these matters, aiming to alleviate financial burdens while protecting their rights.
See More
Monteverde Law Firm Investigates Multiple Mergers
- Merger Investigations: Monteverde & Associates is investigating the merger between Devon Energy and Coterra Energy, where Devon shareholders will own approximately 54% of the combined entity, indicating Devon's significant influence in the merger, which may affect shareholder investment decisions.
- Shareholder Rights Protection: The firm has recovered millions for shareholders, showcasing its success in securities class actions, which is likely to attract more shareholders to its merger investigations and enhance its market reputation.
- Cash Acquisition Proposal: Silicon Laboratories is expected to be sold to Texas Instruments for $231.00 per share, reflecting market recognition of Silicon's value, which may influence its shareholders' investment strategies.
- Legal Service Transparency: Monteverde emphasizes its no-cost legal consultation services, aiming to attract more shareholders to participate in legal actions related to mergers, thereby strengthening its competitive position in the securities legal services market.
See More
Silicon Laboratories Q4 Earnings Exceed Expectations
- Earnings Beat: Silicon Laboratories reported a Q4 Non-GAAP EPS of $0.56, beating expectations by $0.01, indicating stable profitability amidst market fluctuations.
- Significant Revenue Growth: The company achieved $208 million in revenue for Q4, a 25.3% year-over-year increase, surpassing market expectations by $632.13K, reflecting strong market demand.
- Segment Performance: Industrial & Commercial revenue reached $122 million, up 37% year-over-year, while Home & Life revenue was $87 million, up 12%, showcasing the success of its diversified product lines.
- Acquisition Impact: Due to the pending acquisition by Texas Instruments, Silicon Labs has canceled its previously scheduled earnings call for February 10, 2026, and suspended forward-looking guidance, indicating a strategic shift in focus.
See More
