Welcome to our dedicated page for Silicon Labs news (Ticker: SLAB), a resource for investors and traders seeking the latest updates and insights on Silicon Labs 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) announced a modified Dutch auction tender offer to buy back up to $1.0 billion in shares at a price between $140.00 and $160.00 per share. The offer, aimed at returning capital to shareholders, commenced on August 3, 2021, and will expire on August 30, 2021. The closing stock price on August 2, 2021, was $155.03 per share. Stockholders can tender shares at their preferred price within the specified range, which may provide liquidity without affecting the market price.
Silicon Labs (SLAB) announced a modified Dutch auction tender offer to repurchase up to $1.0 billion in shares, ranging from $140.00 to $160.00 per share. This move follows the completion of its $2.75 billion divestiture of infrastructure and automotive divisions, aiming to return capital to shareholders. The offer will start on August 3, 2021 and is set to expire on August 30, 2021, although it may be extended. Shareholders are encouraged to consult financial advisors regarding participation.
Silicon Labs (NASDAQ: SLAB) reported robust Q2 2021 financial results, with revenue hitting $278 million, surpassing guidance. The Internet of Things (IoT) revenue reached a record $169 million, up 48% year-on-year. Non-GAAP diluted EPS was $1.05, while GAAP EPS stood at $0.44. The divestiture of the Infrastructure and Automotive businesses to Skyworks Solutions (NASDAQ: SWKS) for $2.75 billion was completed, shifting focus to IoT operations. The company forecasts Q3 revenue between $170 to $180 million, with a GAAP loss per share estimated between $(0.56) and $(0.46).
Silicon Labs (NASDAQ: SLAB) announced a succession plan to appoint Matt Johnson as CEO following Tyson Tuttle's retirement on January 1, 2022. Tuttle, who has been with the company since 1997, will continue as a member of the Technical Advisory Board. Johnson, who has been with Silicon Labs since 2018, previously managed the IoT division. The leadership transition comes amid record-breaking financial results and a strong focus on growth in the global IoT market.
Silicon Labs (NASDAQ: SLAB) has finalized the sale of its Infrastructure & Automotive business to Skyworks Solutions (NASDAQ: SWKH) for $2.75 billion in cash. This divestiture marks a pivotal shift, allowing Silicon Labs to focus solely on secure, intelligent wireless connectivity, a critical area in the growing global IoT market. The company plans to return approximately $2.0 billion to shareholders post-transaction through special dividends and share buybacks, with net proceeds estimated at $2.3 billion after costs.
Skyworks Solutions, Inc. (Nasdaq: SWKS) has finalized its acquisition of Silicon Laboratories Inc.'s (Nasdaq: SLAB) Infrastructure & Automotive business for $2.75 billion in cash. This strategic move aims to enhance Skyworks' portfolio in key sectors like electric vehicles and 5G infrastructure.
CEO Liam K. Griffin expressed confidence in the acquisition, emphasizing the diverse customer base it brings. The deal is expected to accelerate growth in various critical segments, while integrating the new assets and workforce will be crucial for realizing anticipated benefits.
Silicon Labs (NASDAQ: SLAB) has announced its plans to release financial results for the second quarter of 2021 on July 28, 2021, accompanied by an earnings conference call at 7:30 a.m. Central Time. The call will be accessible via webcast on the company’s investor relations page. A replay of the call will be available until August 5, 2021.
With a focus on solutions for the Internet of Things, Silicon Labs continues to shape connectivity and performance across various markets, including consumer and automotive sectors.
Silicon Labs (NASDAQ: SLAB) will host its second annual Works With 2021 Conference from September 14-15, focusing on IoT advancements in smart home, smart cities, and IIoT. Following the success of 2020's event, which attracted over 6,000 global attendees, this year’s conference will feature industry leaders and over 60 workshops aimed at developers and business leaders. The event emphasizes practical training and insights into future IoT trends. Registration is free and now open.
AUSTIN, Texas, June 3, 2021 /PRNewswire/ -- A panel of smart home experts, moderated by Stacey Higginbotham, will analyze Matter (formerly Project CHIP) on June 8, 2021. The discussion will cover Matter's role in enhancing connectivity, interoperability, and security in IoT. The Connectivity Standards Alliance emphasizes Matter's potential to unify IoT ecosystems, simplifying product development for smart home applications. Experts from relevant companies including Silicon Labs will participate, highlighting both advantages and challenges of adopting this new standard.
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.