Silicon Labs - SLAB STOCK NEWS

Silicon Labs (NASDAQ: SLAB) concluded 2020 with notable achievements amid global challenges, particularly the COVID-19 pandemic. The company introduced its Secure Vault, enhancing IoT security, and launched Bluetooth Low Energy 5.2 SoCs. Silicon Labs also expanded its wireless offerings through the acquisition of Redpine Signals and facilitated 5G small cell rollouts. The company garnered multiple awards, including a Gold Medal for Secure Vault and was recognized for its commitment to community support during the pandemic. Executive leadership also received accolades, affirming the company's strategic direction.

Silicon Labs (NASDAQ: SLAB) reported strong Q3 2020 results, with revenues of $221.3 million, surpassing guidance. IoT revenue hit $133.2 million, reflecting a 16% quarter-over-quarter increase. GAAP EPS was $0.07, while non-GAAP EPS reached $0.73. The company launched new products, including the compact BGM220S Bluetooth module and secured partnerships, notably with Amazon for the Sidewalk initiative. For Q4, revenue guidance is set between $221-$231 million, with expected GAAP EPS between $0.02 and $0.12.

Silicon Labs (NASDAQ: SLAB) has announced a strategic partnership with Teledyne e2v HiRel to develop a new line of high reliability isolation products aimed at the aerospace and defense sectors. The collaboration will utilize Silicon Labs’ Si827x isolated gate driver technology, enhancing power systems for satellite communications and other demanding applications. The new product line is expected to launch in Q4 2020, offering robust solutions that improve performance and noise immunity for advanced systems.

Silicon Labs (NASDAQ: SLAB) has scheduled its third quarter 2020 financial results release for October 28, 2020. The release will be followed by an earnings conference call at 7:30 a.m. Central Time, which will be accessible via webcast on their Investor Relations page. A replay of the call will be available until November 28, 2020, through specified phone numbers and the investor page.

Silicon Labs (NASDAQ: SLAB) has announced the promotion of Serena Townsend to senior vice president and chief people officer, effective immediately. Townsend, who joined in February 2017, will oversee the company's global talent strategy and inclusive culture. Lori Knowlton, the outgoing chief people officer, is leaving to focus on family and personal interests. CEO Tyson Tuttle expressed gratitude for Knowlton's contributions to the company's culture. Townsend's leadership is expected to enhance employee initiatives and diversity efforts amid ongoing challenges.

On September 21, 2020, Silicon Labs (NASDAQ: SLAB) announced a collaboration with Amazon to enhance IoT connectivity through the Amazon Sidewalk network. This shared network allows devices to communicate over Wi-Fi, improving their functionality both at home and in the neighborhood. Silicon Labs will provide wireless solutions that support various protocols, ensuring secure communication for IoT products. Future enhancements aim to offer improved device experiences while prioritizing user privacy and security. The collaboration supports the growing demand for connected devices and smart home solutions.

Silicon Labs has launched Simplicity Studio 5, a major upgrade to its Integrated Developer Environment (IDE), enhancing support for multiple wireless protocols. This update aims to simplify and accelerate the development of IoT devices, significantly reducing development time and optimizing resource accessibility. Key features include a modern user interface, improved performance, and advanced security measures. Simplicity Studio 5 was introduced during the Works With conference held on September 9-10, 2020, showcasing its capabilities for smart home and other IoT applications.

Silicon Labs (NASDAQ: SLAB) has expanded its Bluetooth Low Energy portfolio with the launch of the BGM220S and BGM220P modules, enhancing performance and flexibility for IoT developers. The BGM220S is one of the smallest SiPs globally, offering low cost and up to ten years of battery life. Silicon Labs emphasizes its leadership in Bluetooth 5.2 solutions, which have gained significant market adoption in various applications. Furthermore, their products feature advanced security protections and are optimized for power efficiency, making them ideal for battery-operated devices.

Silicon Labs (NASDAQ: SLAB) has announced that its Secure Vault technologies, aimed at enhancing IoT device security, have received third-party certifications from PSA Certified and ioXt Alliance. The EFR32MG21B multiprotocol wireless SoCs are the first to achieve PSA Certified Level 2 accreditation, ensuring robust security against scalable software attacks. The new Secure Vault suite features advanced security mechanisms designed to protect connected devices amid rising cyber threats. The xG22 Thunderboard development kit also earned SmartCert status, streamlining certification for manufacturers.