Austrian smart lock manufacturer Nuki is using Silicon Labs solutions in the fourth-generation Nuki Smart Lock, the world's first smart lock with native Matter-over-Thread support that adds smart capabilities to European-style door knobs. Silicon Valley-based smart lock manufacturer U-tec uses Silicon Labs solutions in its newly announced Ultraloq Bolt Fingerprint Matter, the first-ever biometric smart deadbolt lock with Matter-over-Thread. "The companies leading IoT industry trends and setting the curve wi ...

AUSTIN, Texas, Feb. 28, 2024 /PRNewswire/ -- Silicon Labs (NASDAQ: SLAB), a leader in secure, intelligent wireless technology for a more connected world, today announced that the company will present at the Morgan Stanley Technology, Media & Telecom Conference on Tuesday, March 5, 2024 at The Palace Hotel in San Francisco, CA. Matt Johnson, President and CEO, and Giovanni Pacelli, Senior Director of Finance, are scheduled to participate in a fireside chat at 3:35 p.m. PST.The fireside chat will be webcast o ...

AUSTIN, Texas, Feb. 27, 2024 /PRNewswire/ -- Silicon Labs (NASDAQ: SLAB), a leader in secure, intelligent wireless technology for a more connected world, today announced that Dean Butler will join the company as Senior Vice President and Chief Financial Officer (CFO), effective May 15, 2024. Butler will be responsible for Silicon Labs' financial strategy and lead the global finance organization. Butler will succeed Mark Mauldin, currently serving as interim CFO. Dean Butler will be joining Silicon Labs a ...

Financial Performance - Revenues decreased by $241.8 million in fiscal 2023, totaling $782.3 million, a decline of 23.6% compared to fiscal 2022[178] - Gross margin fell to 58.9% in fiscal 2023 from 62.7% in fiscal 2022, primarily due to variations in product mix and costs[178] - Operating loss for fiscal 2023 was $24.2 million, a significant decline from operating income of $119.3 million in fiscal 2022[178] - Selling, general and administrative expenses decreased by $44.0 million to $147.0 million in fiscal 2023, a 23.0% reduction compared to fiscal 2022[196] - Equity-method loss was $16.0 million in fiscal 2023, a significant decline from earnings of $3.4 million in fiscal 2022, mainly due to a loss on the sale of an equity-method investment[200] Research and Development - Research and development expenses increased to $337.7 million in fiscal 2023, representing 43.2% of revenues, up from 32.5% in fiscal 2022[195] - The company introduced new products in fiscal 2023, including a new family of microcontroller units and integrated Bluetooth SoCs, aimed at expanding market opportunities[180] Cash Flow and Investments - Cash, cash equivalents, and short-term investments at the end of fiscal 2023 totaled $439.2 million, with net cash used in operating activities amounting to $30.3 million[179] - Net cash used in operating activities was $30.3 million in fiscal 2023, a decrease from net cash provided of $141.3 million in fiscal 2022[204] - Net cash provided by investing activities was $469.8 million in fiscal 2023, up from $240.5 million in fiscal 2022, primarily due to marketable securities transactions[207] - Net cash used in financing activities decreased to $711.9 million in fiscal 2023 from $887.1 million in fiscal 2022, mainly due to reduced stock repurchases[208] Inventory and Demand - The overall demand environment for the company's products is weak, with customers reducing inventory levels and frequently requesting cancellations and changes[192] - Inventory increased to $194.3 million at December 30, 2023, from $100.4 million at December 31, 2022, reflecting efforts to minimize supply disruptions[206] Tax and Interest - Provision for income taxes decreased to $7.9 million in fiscal 2023 from $38.5 million in fiscal 2022, with an effective tax rate of (29.9)% compared to 29.6% in the previous year[199] - Interest income increased to $19.2 million in fiscal 2023 from $13.9 million in fiscal 2022, primarily due to higher market interest rates[197] Future Projections - Estimated revenues for the first quarter of fiscal 2024 are projected to be between $100 million and $110 million, with a gross margin of 52%[202] Currency and Risk Management - The company is exposed to foreign currency exchange rate risk primarily through assets, liabilities, and operating expenses of subsidiaries denominated in currencies other than the U.S. dollar[228] - Gains and losses from foreign currency forward contracts are recognized in earnings in the same period during which the hedged transaction is recognized[228] Employee Costs - Total employee separation costs incurred during fiscal 2023 were $9.1 million due to a workforce reduction of approximately 10%[178]

Silicon Laboratories Inc. (NASDAQ:SLAB) Q4 2023 Results Conference Call February 7, 2024 8:30 AM ET Company Participants Giovanni Pacelli - Senior Director of Finance Matt Johnson - President & CEO Mark Mauldin - Interim CFO Conference Call Participants Cody Acree - Benchmark Company Gary Mobley - Wells Fargo Matt Ramsay - TD Cowen Quinn Bolton - Needham & Company Thomas O'Malley - Barclays Tore Svanberg - Stifel Operator Thank you for standing by. My name is Jonathan, and I will be your conference operato ...

Silicon Laboratories (SLAB) came out with a quarterly loss of $1.19 per share versus the Zacks Consensus Estimate of a loss of $1.44. This compares to earnings of $1.31 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 17.36%. A quarter ago, it was expected that this chipmaker would post earnings of $0.61 per share when it actually produced earnings of $0.62, delivering a surprise of 1.64%.Over the last four quarters, the compan ...

"Arduino's simplicity, ease of use, and powerful development environment is what makes them so appealing to their community of over 33 million users, whether they be Makers just getting started, or Pros with a wealth of development experience," said Rob Shane, Vice President of Mass Market Sales and Applications at Silicon Labs. "By combining Arduino's software libraries with Silicon Labs-based hardware, developers get the best of both worlds with our leading security, energy efficiency, and processing powe ...

NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP is investigating potential claims against Silicon Laboratories Inc. (“Silicon Labs” or the “Company”) (NASDAQ: SLAB). The investigation concerns whether Silicon Labs and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices. [Click here for more information about the investigation] On January 29, 2024, Silicon Labs issued a press release “ announc[ing] a one-week delay to its s ...

ATLANTA, Feb. 01, 2024 (GLOBE NEWSWIRE) -- Holzer & Holzer, LLC is investigating whether Silicon Laboratories Inc. ("Silicon Labs" or the "Company") (NASDAQ:SLAB) complied with federal securities laws. On January 29, 2024, the Company postponed its scheduled earnings conference call, disclosing that it "determined that a material weakness in internal control related to the operation and documentation of certain inventory controls existed as of December 30, 2023. The delay in reporting allows additional time ...

BOSTON, Jan. 30, 2024 (GLOBE NEWSWIRE) --  Block & Leviton is investigating Silicon Laboratories, Inc. (NASDAQ:SLAB) for potential securities law violations. Investors who have lost money in their Silicon Laboratories, Inc. investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://www.blockleviton.com/cases/slab. What is this all about? On January 30, 2024 Silicon Laboratories announced that the Company was delaying its scheduled earnings cal ...