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) announced the preliminary results of its modified Dutch auction tender offer, which concluded on August 30, 2021. Approximately 4,148,034 shares were tendered at or below the purchase price of $160.00 per share, totaling about $663.7 million. This buyback represents 9.3% of outstanding shares. Following this, Silicon Labs plans to return around $1.34 billion from its divestiture of its infrastructure and automotive lines to shareholders via special dividends and share repurchases. The final number of shares and purchase price are subject to confirmation.
Silicon Labs (NASDAQ: SLAB) announced keynotes for the upcoming Works With 2021 IoT conference on September 14-15. The session titled "The Future of Smart Cities Powered by IoT" will explore innovative solutions for smart city infrastructure, energy efficiency, and climate resilience. Notable speakers include Austin's Mayor Steve Adler and City Manager Spencer Cronk, alongside experts from Landis + Gyr and Google's X. The discussion will highlight IoT's role in enhancing critical infrastructure amidst climate challenges.
Silicon Labs (NASDAQ: SLAB) announced a panel on IoT security at the virtual Works With 2021 conference. The session titled Smart Home Security and the User Experience will include experts from ioXt Alliance and X-Force Red IBM Security. They will discuss the growing number of smart home security solutions, interoperability issues, and the technology securing these devices. With over 40% of smart homes having at least one vulnerable device, this panel aims to enhance consumer safety. The session will take place on September 14, 2021, at 1:45 PM CDT.
Silicon Labs (NASDAQ: SLAB) announced a virtual panel titled "IoT is Changing Healthcare – Now Adoption is Critical" on September 15, 2021. Moderated by IoT expert Stacey Higginbotham, the panel features leaders in IoT and healthcare discussing the integration of IoT in healthcare, its challenges, and its transformative potential during the pandemic. Participants will explore the impact of the Internet of Medical Things (IoMT) and the need for tech companies to adapt to healthcare demands. Registration details are available online.
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 (NASDAQ: SLAB) will participate in KeyBanc's Technology Leadership Forum on August 9, featuring a presentation by Matt Johnson, President, and John Hollister, CFO, at 2:20 p.m. Central Time. The event will include virtual investor meetings throughout the day. The presentation can be accessed via the company's Investor Relations page at silabs.com. This forum is a key opportunity for Silicon Labs to discuss its innovations in secure, intelligent wireless technology.
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.