Overview
Silicon Labs Q3 revenue grows to $206 mln, beating analyst expectations
Adjusted EPS for Q3 was $0.32, reflecting operational performance
Company missed analyst estimates for net income and operating income
Outlook
Company expects Q4 revenue between $200 mln and $215 mln
Silicon Labs sees Q4 GAAP EPS between $(0.22) and $0.08
Company projects Q4 non-GAAP EPS between $0.40 and $0.70
Result Drivers
INDUSTRIAL & COMMERCIAL GROWTH - Revenue in this segment increased 22% year-over-year, contributing to overall sales growth
HOME & LIFE SEGMENT - Revenue in this segment rose 26% year-over-year, aiding overall performance
STRATEGIC PARTNERSHIP - Expanded partnership with GlobalFoundries to enhance U.S.-based semiconductor manufacturing
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$205.99 mln
$205.10 mln (8 Analysts)
Q3 Adjusted EPS
$0.32
Q3 Net Income
Miss
-$9.93 mln
$10.10 mln (8 Analysts)
Q3 Operating Income
Miss
-$12.34 mln
$9.43 mln (7 Analysts)
Q3 Gross Profit
$119.01 mln
Q3 Operating Expenses
$131.36 mln
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 5 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the semiconductors peer group is "buy."
Wall Street's median 12-month price target for Silicon Laboratories Inc is $147.00, about 13% above its November 3 closing price of $127.96
The stock recently traded at 60 times the next 12-month earnings vs. a P/E of 78 three months ago
Press Release: ID:nPn7SDKX9a
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)