Welcome to our dedicated page for Silicon Laboratories news (Ticker: SLAB), a resource for investors and traders seeking the latest updates and insights on Silicon Laboratories stock.
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 strong Q3 2022 results with revenue of $270 million, increasing 3% sequentially and 46% year-on-year, reflecting growth in both Industrial & Commercial and Home & Life segments. Operating income was 11% with GAAP diluted EPS at $0.60, while non-GAAP diluted EPS reached $1.21. The company hosted its third Works With Conference, attracting over 7,000 registrants. Looking ahead, Q4 revenue is projected between $245-$255 million, with GAAP diluted EPS expected to be between $0.35 to $0.45.
Silicon Labs (NASDAQ: SLAB) announced plans to release its third-quarter 2022 financial results on October 26, 2022. The earnings conference call will occur at 7:30 a.m. Central Time and will be available via webcast on the company's investor relations website. A replay will be accessible until November 02, 2022. Silicon Labs continues to lead in secure, intelligent wireless technology, providing integrated hardware and software solutions aimed at innovative applications across various industries.
Silicon Labs inaugurated its largest global center for engineering and wireless connectivity innovation in Hyderabad on September 28, 2022. This facility is aimed at enhancing the development of IoT wireless products. The company plans to grow its workforce from nearly 500 employees to 1,500 by 2025. Additionally, Silicon Labs will launch India's first campus-wide Wi-SUN network in collaboration with IIIT-Hyderabad. This initiative supports the Indian Government's Smart Cities Mission, enhancing safety and sustainability in urban environments.
On September 13, 2022, Silicon Labs announced new IoT products at its Works With Developer Conference, enhancing its portfolio for Matter, Wi-SUN, Amazon Sidewalk, and Wi-Fi 6. The company reported doubling IoT revenue since 2019. Key new offerings include complete Matter development solutions, the FG25 SoC for Wi-SUN, and the SiWx917 Wi-Fi 6 and Bluetooth LE SoC. CEO Matt Johnson highlighted the expectation of 27 billion connected IoT devices by 2025, positioning Silicon Labs to be integral in this growth with robust security and interoperability across platforms.
Silicon Labs (NASDAQ: SLAB) announced its participation in Citi's 2022 Global Technology Conference on September 7 at the New York Hilton Midtown. CFO John Hollister will engage in a fireside chat at 1:00 p.m. ET. The session will be available via webcast on the company's Investor Relations page. Silicon Labs specializes in secure, intelligent wireless technology, providing integrated hardware and software platforms designed to simplify development and accelerate market entry for advanced applications.
On August 29, 2022, Silicon Labs (NASDAQ: SLAB) announced an increase in its stock repurchase program by $200 million, resulting in a total authorization of $450 million. This initiative reinforces the company's commitment to enhancing shareholder value. Originally introduced on July 27, 2022, the buyback program aims to return capital to shareholders and support the stock price, reflecting confidence in the company's future prospects.
Silicon Labs reported a strong Q2 2022, with revenue reaching $263 million, a 13% sequential increase and a 55% year-on-year growth. The Industrial & Commercial segment grew 61% to $144 million, while Home & Life revenue climbed 49% to $119 million. The company maintained a 62% gross margin, and GAAP diluted EPS was $0.60. A new Bluetooth Location Services solution was announced, and the board approved a new $250 million share buyback program. Q3 revenue guidance is between $265 million to $275 million.
Silicon Labs (NASDAQ: SLAB) announced the appointment of Robert "Bob" Conrad to its board of directors. Conrad, with nearly 40 years in the semiconductor industry, previously served as Senior Vice President at NXP Semiconductors. His expertise is expected to enhance Silicon Labs' strategic focus and operational growth. Concurrently, Bill Wood will retire after 25 years of service. CEO Matt Johnson expressed gratitude for Wood's contributions, while stating that Conrad's experience will be crucial for Silicon Labs' future innovation and market positioning.
Silicon Labs will host its annual Works With Conference from September 13-15, featuring leaders from major tech companies like Amazon and Google. This virtual event aims to advance IoT technology by focusing on the upcoming Matter standard and its implications for smart devices. Participants will access over 75 technical sessions and 10 hands-on workshops, designed to enhance skills in developing connected devices. Registration for the conference is free, highlighting Silicon Labs' commitment to fostering innovation in wireless technology.
Silicon Labs (NASDAQ: SLAB) announced it will release its Q2 2022 financial results on July 27, 2022, followed by an earnings conference call at 7:30 a.m. CT. The call will be accessible via webcast on the company's website. A replay will be available until August 3, 2022. Silicon Labs is recognized for its secure and intelligent wireless technology, providing integrated hardware and software platforms to support developers across various applications.
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