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Silicon Laboratories Inc. (NASDAQ: SLAB) is a prominent player in the semiconductor industry, recognized worldwide for its innovative silicon, software, and system solutions. The company is renowned for fostering a smarter, more connected world through its secure, intelligent wireless technology.
Headquartered in Austin, Texas, Silicon Labs employs over 1,400 team members spread across more than 20 countries. Their focus spans several high-growth markets, including the Internet of Things (IoT), Internet infrastructure, industrial automation, consumer electronics, and automotive sectors. The company operates through a single segment that specializes in mixed-signal analog-intensive products, categorized into Industrial & Commercial, and Home & Life segments, with the Industrial & Commercial category being the primary revenue driver.
Silicon Labs’ award-winning technologies have earned it significant accolades, including being voted the most respected public semiconductor company by the Global Semiconductor Alliance for three of the last four years. This success is driven by their commitment to performance, energy efficiency, and simplicity in their product designs.
Among the company’s recent milestones, a notable partnership with Arduino aims to streamline the development of Matter over Thread applications. This collaboration enables Arduino's 33 million-strong developer community to leverage Silicon Labs' advanced hardware for enhanced security, energy efficiency, and processing power.
On the financial front, Silicon Labs reported strong results for the first quarter ending March 30, 2024, indicating sequential growth driven by progress in end-customer inventory destocking. Despite volatile market conditions, the company continues to anticipate revenue growth, supported by improving bookings and ramping design wins.
Further emphasizing its leadership, Silicon Labs has recently launched the xG26 family of Wireless SoCs and MCUs, designed to support the most demanding emerging IoT applications with enhanced Flash and RAM capacities, and the xG22E family, tailored for energy harvesting applications to enable battery-free IoT devices.
Silicon Labs continues to push the boundaries of IoT innovation, making it easier for developers worldwide to tackle complex wireless challenges and bring advanced industrial, commercial, home, and life applications to market efficiently. For more information, visit their official website at www.silabs.com.
Silicon Labs (Nasdaq: SLAB) announced a modified Dutch auction tender offer to buy back up to $1.0 billion in shares at a price between $140.00 and $160.00 per share. The offer, aimed at returning capital to shareholders, commenced on August 3, 2021, and will expire on August 30, 2021. The closing stock price on August 2, 2021, was $155.03 per share. Stockholders can tender shares at their preferred price within the specified range, which may provide liquidity without affecting the market price.
Silicon Labs (SLAB) announced a modified Dutch auction tender offer to repurchase up to $1.0 billion in shares, ranging from $140.00 to $160.00 per share. This move follows the completion of its $2.75 billion divestiture of infrastructure and automotive divisions, aiming to return capital to shareholders. The offer will start on August 3, 2021 and is set to expire on August 30, 2021, although it may be extended. Shareholders are encouraged to consult financial advisors regarding participation.
Silicon Labs (NASDAQ: SLAB) reported robust Q2 2021 financial results, with revenue hitting $278 million, surpassing guidance. The Internet of Things (IoT) revenue reached a record $169 million, up 48% year-on-year. Non-GAAP diluted EPS was $1.05, while GAAP EPS stood at $0.44. The divestiture of the Infrastructure and Automotive businesses to Skyworks Solutions (NASDAQ: SWKS) for $2.75 billion was completed, shifting focus to IoT operations. The company forecasts Q3 revenue between $170 to $180 million, with a GAAP loss per share estimated between $(0.56) and $(0.46).
Silicon Labs (NASDAQ: SLAB) announced a succession plan to appoint Matt Johnson as CEO following Tyson Tuttle's retirement on January 1, 2022. Tuttle, who has been with the company since 1997, will continue as a member of the Technical Advisory Board. Johnson, who has been with Silicon Labs since 2018, previously managed the IoT division. The leadership transition comes amid record-breaking financial results and a strong focus on growth in the global IoT market.
Silicon Labs (NASDAQ: SLAB) has finalized the sale of its Infrastructure & Automotive business to Skyworks Solutions (NASDAQ: SWKH) for $2.75 billion in cash. This divestiture marks a pivotal shift, allowing Silicon Labs to focus solely on secure, intelligent wireless connectivity, a critical area in the growing global IoT market. The company plans to return approximately $2.0 billion to shareholders post-transaction through special dividends and share buybacks, with net proceeds estimated at $2.3 billion after costs.
Skyworks Solutions, Inc. (Nasdaq: SWKS) has finalized its acquisition of Silicon Laboratories Inc.'s (Nasdaq: SLAB) Infrastructure & Automotive business for $2.75 billion in cash. This strategic move aims to enhance Skyworks' portfolio in key sectors like electric vehicles and 5G infrastructure.
CEO Liam K. Griffin expressed confidence in the acquisition, emphasizing the diverse customer base it brings. The deal is expected to accelerate growth in various critical segments, while integrating the new assets and workforce will be crucial for realizing anticipated benefits.
Silicon Labs (NASDAQ: SLAB) has announced its plans to release financial results for the second quarter of 2021 on July 28, 2021, accompanied by an earnings conference call at 7:30 a.m. Central Time. The call will be accessible via webcast on the company’s investor relations page. A replay of the call will be available until August 5, 2021.
With a focus on solutions for the Internet of Things, Silicon Labs continues to shape connectivity and performance across various markets, including consumer and automotive sectors.
Silicon Labs (NASDAQ: SLAB) will host its second annual Works With 2021 Conference from September 14-15, focusing on IoT advancements in smart home, smart cities, and IIoT. Following the success of 2020's event, which attracted over 6,000 global attendees, this year’s conference will feature industry leaders and over 60 workshops aimed at developers and business leaders. The event emphasizes practical training and insights into future IoT trends. Registration is free and now open.
AUSTIN, Texas, June 3, 2021 /PRNewswire/ -- A panel of smart home experts, moderated by Stacey Higginbotham, will analyze Matter (formerly Project CHIP) on June 8, 2021. The discussion will cover Matter's role in enhancing connectivity, interoperability, and security in IoT. The Connectivity Standards Alliance emphasizes Matter's potential to unify IoT ecosystems, simplifying product development for smart home applications. Experts from relevant companies including Silicon Labs will participate, highlighting both advantages and challenges of adopting this new standard.
Silicon Labs (NASDAQ: SLAB), a leading provider of silicon, software, and solutions, announced its participation in three upcoming investor conferences. The company will present at the J.P. Morgan Global Technology, Media and Communications Conference on May 26 at 5:55 p.m. ET, the Cowen Technology, Media and Telecom Conference on June 2 at 9:50 a.m. ET, and the Stifel Cross Sector Insight Conference on June 9. All presentations will be available via webcast on the company's Investor Relations page.
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