Silicon Labs Stock Price, News & Analysis

Silicon Labs (NASDAQ: SLAB), a leading provider of silicon, software, and solutions, announced its participation in three upcoming investor conferences. The company will present at the J.P. Morgan Global Technology, Media and Communications Conference on May 26 at 5:55 p.m. ET, the Cowen Technology, Media and Telecom Conference on June 2 at 9:50 a.m. ET, and the Stifel Cross Sector Insight Conference on June 9. All presentations will be available via webcast on the company's Investor Relations page.

Silicon Labs (NASDAQ: SLAB) announced its new wireless solutions for Matter end products, supporting Thread, Wi-Fi, and Bluetooth protocols. Matter aims to create a unified standard for IoT connectivity, enhancing user experience across smart home and commercial applications, including security, HVAC, and lighting. The company contributes over 20% of Matter's source code, focusing on secure, reliable, and simple IoT communication. Their Secure Vault technology bolsters security measures against breaches. The company leverages two decades of expertise in wireless solutions to aid developers in innovating connected products.

Silicon Labs (NASDAQ: SLAB) reported strong Q1 2021 results with revenue hitting $255.5 million, surpassing the forecast and up from $242.9 million in Q4 2020. IoT revenue reached $158.2 million, a 34% year-on-year increase. GAAP diluted EPS stood at $0.29, while non-GAAP EPS was $0.91. The company announced the sale of its Infrastructure & Automotive business to Skyworks Solutions (NASDAQ: SWKS) for $2.75 billion in cash, focusing on IoT growth. Expected Q2 revenue ranges between $262 to $272 million.

Silicon Labs (NASDAQ: SLAB) has appointed Daniel Cooley as its new Chief Technology Officer. Cooley, who has been with the company since 2005, previously served as chief strategy officer and has a strong background in IoT technology. In his new role, he will lead the company's research and development strategy, focusing on wireless connectivity and IoT market opportunities. Cooley takes over from Alessandro Piovaccari, who transitions to a technical advisory role after 18 years of service. This leadership change is expected to accelerate Silicon Labs' growth in the expanding IoT market.

Silicon Labs has entered into a definitive agreement to sell its Infrastructure and Automotive (I&A) business to Skyworks Solutions for $2.75 billion in cash. This strategic move is aimed at enhancing Silicon Labs' focus on the IoT market, anticipated to accelerate growth opportunities. Following the transaction, the company plans to return approximately $2.0 billion to shareholders through dividends and share repurchases. Additionally, Silicon Labs reported expected Q1 revenue of $255 million, a 19% increase year-over-year.

Silicon Labs (NASDAQ: SLAB) has promoted Matt Johnson to president, effective immediately. Johnson, who previously served as senior vice president and general manager of IoT Products, is expected to bolster the company's growth in intelligent connectivity and the Internet of Things (IoT) sector. Under his leadership, the organization aims to capitalize on a $10 billion market opportunity by 2023. CEO Tyson Tuttle expressed confidence in Johnson's ability to manage day-to-day operations and enhance the company's product development initiatives.

Skyworks Solutions (Nasdaq: SWKS) has announced an all-cash acquisition of Silicon Laboratories’ (Nasdaq: SLAB) Infrastructure & Automotive business for $2.75 billion. This strategic move enhances Skyworks' capabilities in high-growth sectors such as electric vehicles, industrial control, and 5G infrastructure, aiming to tap into a combined market opportunity of nearly $20 billion annually. The acquisition is expected to close in Q3 2021, subject to regulatory approvals, and will bolster Skyworks' revenue and margin growth by integrating approximately 350 new employees and technologies into its operations.

Silicon Labs (NASDAQ: SLAB) has announced its new Wi-SUN technology, aimed at enhancing IoT applications and smart city development. This solution integrates the EFR32 hardware platform with an advanced IPv6 mesh stack, promoting secure wireless connectivity for various applications including advanced metering and street lighting. Certified by the Wi-SUN Alliance, the technology is designed for large-scale, long-range networks, allowing for greater scalability and resilience. General availability is expected in early Summer 2021.

Silicon Labs (NASDAQ: SLAB) has announced that it will release its financial results for the first quarter of 2021 on April 28, 2021. This will be followed by an earnings conference call at 7:30 a.m. Central Time. Investors can access the webcast on the company's website. A replay of the call will be available until May 5, 2021. Silicon Labs focuses on providing innovative silicon, software, and solutions for various markets, including the Internet of Things and industrial automation.