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. develops low-power wireless connectivity and embedded technology for device makers building edge applications. Its news commonly covers integrated SoCs, development ecosystems and security features used in smart home, industrial IoT, smart cities, connected access, tire monitoring and fleet-related applications.
Company updates also address customer selections and partner deployments for products such as BG22 Bluetooth LE SoCs, MG24 multiprotocol wireless SoCs and Secure Vault technology, along with wireless R&D expansion, technical leadership, operating results, shareholder voting matters and capital-structure disclosures.
Silicon Labs (NASDAQ: SLAB) will release its fourth quarter 2022 financial results on February 1, 2023. An earnings conference call is scheduled for 7:30 a.m. Central Time on the same day, which will be available via webcast on the company’s investor relations page. A replay of the call will be accessible until February 8, 2023.
Silicon Labs specializes in secure, intelligent wireless technology, offering hardware, software platforms, and tools to assist developers in creating advanced applications.
Silicon Labs (NASDAQ: SLAB) has announced a $50 million increase in its stock repurchase program, raising the total authorized buyback amount to $300 million, effective until December 30, 2023. This decision highlights the company’s strong cash generation capabilities and commitment to returning capital to shareholders. The board's confidence in investing for future growth while actively managing shareholder value is evident, especially as this repurchase plan builds on previous increases announced in July and August 2022.
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.