With the exception of companies highly leveraged to large tech companies throwing money hand over fist at AI, a great many semiconductor companies have languished as end-market demand and customer destocking have slowed in recent quarters. Again, apart from AI, not manyAnalyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opin ...

Silicon Laboratories Inc. (NASDAQ:SLAB) Q3 2024 Earnings Conference Call November 4, 2024 4:30 PM ET Company Participants Giovanni Pacelli - Senior Director, Finance Matt Johnson - President and CEO Dean Butler - Chief Financial Officer Conference Call Participants Srini Pajjuri - Raymond Nick Doyle - Needham Cody Acree - The Benchmark Company Peter Peng - JP Morgan Operator My name is Michelle, and I will be your conference operator today. Welcome to the Silicon Labs Third Quarter Fiscal 2024 Earnings Call ...

Silicon Laboratories (SLAB) came out with a quarterly loss of $0.13 per share versus the Zacks Consensus Estimate of a loss of $0.21. This compares to earnings of $0.62 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 38.10%. A quarter ago, it was expected that this chipmaker would post a loss of $0.64 per share when it actually produced a loss of $0.56, delivering a surprise of 12.50%.Over the last four quarters, the company h ...

Financial Performance - Revenue for Q3 2024 was $166 million, with Industrial & Commercial revenue at $96 million (up 10% sequentially) and Home & Life revenue at $70 million (up 22% sequentially) [2] - GAAP gross margin was 54.3%, while non-GAAP gross margin was slightly higher at 54.5% [2] - The company reported a GAAP operating loss of $30 million and a non-GAAP operating loss of $8 million for the quarter [2] - GAAP diluted loss per share for Q3 2024 was $(0.88), while non-GAAP diluted loss per share was $(0.13) [2] - For Q4 2024, Silicon Labs expects revenue to be between $161 million and $171 million, with GAAP gross margin projected between 54% and 55% [7] Awards and Product Launches - The company announced the general availability of its first Wi-Fi 6 solution, the SiWx917, designed for ultra-low-power applications [4] - Silicon Labs' MG26 device received the IoT Evolution's Product of the Year award, highlighting its multiprotocol capabilities [6] - The 5th annual IoT developers conference attracted over 500 companies, with over 60% of attendees being new to Silicon Labs [3] Assets and Equity - Total assets as of September 28, 2024, were $1.249 billion, a decrease from $1.443 billion at the end of 2023 [18] - Total stockholders' equity decreased to $1,081,386 thousand as of September 28, 2024, down from $1,208,682 thousand at December 30, 2023 [19] - The total liabilities and stockholders' equity amounted to $1,249,242 thousand as of September 28, 2024 [19] Cash Flow and Expenses - Net income for the nine months ended September 28, 2024, was a loss of $167,187 thousand, compared to a profit of $35,271 thousand for the same period in 2023 [20] - Net cash used in operating activities improved to $(24,039) thousand for the nine months ended September 28, 2024, compared to $(48,885) thousand for the same period in 2023 [20] - Net cash provided by investing activities was $151,299 thousand for the nine months ended September 28, 2024, down from $426,418 thousand for the same period in 2023 [20] - Cash and cash equivalents at the end of the period increased to $303,082 thousand from $159,928 thousand year-over-year [20] - The company anticipates GAAP operating expenses for Q4 2024 to be approximately $118 million to $122 million [7] Inventory and Receivables - Accounts receivable showed an improvement with a decrease of $(19,585) thousand in the current period, compared to $(30,706) thousand in the previous year [20] - The company experienced a significant increase in inventories, with a change of $54,724 thousand compared to a decrease of $(66,971) thousand in the previous year [20] Depreciation and Compensation - The company reported a depreciation of property and equipment of $19,302 thousand, slightly up from $18,992 thousand in the previous year [20] - Stock-based compensation expense rose to $45,358 thousand for the nine months ended September 28, 2024, compared to $37,167 thousand in the prior year [20]

Wireless IoT leader delivers third-quarter results above the midpoint of its guidance  AUSTIN, Texas, Nov. 4, 2024 /PRNewswire/ -- Silicon Labs (NASDAQ: SLAB), a leader in secure, intelligent wireless technology for a more connected world, reported financial results for the third quarter, which ended September 28, 2024."Silicon Labs delivered solid sequential revenue growth as several key design wins began ramping in the quarter," said Matt Johnson, President and Chief Executive Officer at Silicon Labs. "Lo ...

AUSTIN, Texas, Oct. 17, 2024 /PRNewswire/ -- Silicon Labs (NASDAQ: SLAB), a leader in secure, intelligent wireless technology for a more connected world, today announced that it plans to release third quarter 2024 financial results on Monday, November 4, 2024. An earnings conference call will follow the release at 3:30 p.m. Central Time. The call will be streamed from the Investor Relations section of the company's website at silabs.com. A replay will be available after the call on the investor page of the ...

Silicon Laboratories (NASDAQ: SLAB ), a solutions provider for the Internet of Things or IoT, has tried to narrow the losses for the year in recent months. The stock has rebounded off the recent low in August, but it appears to be having trouble Welcome to my author's site. As an avid follower of SeekingAlpha, I take great interest in articles posted as the subject matter is often something that appeals to me. However, I will sometimes encounter an article that I might not agree with. My purpose is to prese ...

New Custom Part Manufacturing Service (CPMS) and Device Attestation Certificates (DAC) Injection Streamline Security Implementation for Matter-Certified IoT Devices AUSTIN, Texas, Oct. 9, 2024 /PRNewswire/ -- Silicon Labs (NASDAQ: SLAB), a leader in secure, intelligent wireless technology, in partnership with Kudelski IoT, a division of the Kudelski Group (SIX: KUD.S) and a global leader in digital security and IoT solutions, today announced a new solution to accelerate the time to market for Matter-certifi ...

AUSTIN, Texas, Aug. 19, 2024 /PRNewswire/ -- Silicon Labs (NASDAQ: SLAB), a leader in secure, intelligent wireless technology for a more connected world, today announced that Chief Financial Officer Dean Butler will participate in the following upcoming investor conferences later this month: August 22, 2024: Needham Virtual Semiconductor & SemiCap 1x1 Conference August 27, 2024: Jefferies Semiconductor, IT Hardware & Communications Technology Conference in Chicago, IL August 28, 2024: Evercore ISI Semicondu ...

EFR32MG21 SoC Tailored for Zigbee Applications Offers Several Advantages for ZBMicro AUSTIN, Texas, Aug. 1, 2024 /PRNewswire/ -- Silicon Labs (NASDAQ: SLAB), a leader in secure, intelligent wireless technology for a more connected world, today announced that its MG21 2.4 GHz wireless SoC had been selected by SONOFF for its new ZBMicro smart switch, SONOFF's Micro Zigbee USB Smart Adaptor. ZBMicro is a groundbreaking addition to the realm of smart home technology. From its role as a smart switch for USB devi ...