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2021-10-28

Chipmaker Silicon Labs Blasts Higher On Better-Than-Expected Earnings

Chipmaker Silicon Laboratories(SLAB) on Wednesday crushed expectations for its fiscal third quarter

Chipmaker Silicon Labs Blasts Higher On Better-Than-Expected Earnings

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The news sent SLAB stock skyward.</p>\n<p>The Austin, Texas-based company earned an adjusted 34 cents a share on sales of $184.8 million in the quarter ended Oct. 2. Analysts expected Silicon Labs to earn 15 cents a share on sales of $175.2 million, according to FactSet.</p>\n<p>Its sales from continuing operations rose 39% year over year. During the third quarter, Silicon Labs completed the divestiture of its Infrastructure and Automotive business to&nbsp;<b>Skyworks Solutions</b>(SWKS) for $2.75 billion in cash.</p>\n<p>For the current quarter, Silicon Labs expects to earn an adjusted 55 cents a share on sales of $200 million. That's based on the midpoint of its outlook. Wall Street was modeling earnings of 19 cents a share on sales of $179 million, FactSet said.</p>\n<p>SLAB Stock Breaks Out</p>\n<p>On the&nbsp;stock market today, SLAB stock rocketed 18.9% to close at 184.06. 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The news sent SLAB stock skyward.\nThe Austin, Texas-...</p>\n\n<a href=\"https://www.investors.com/news/technology/slab-stock-silicon-labs-blasts-higher-on-q3-earnings/?src=A00220\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.investors.com/news/technology/slab-stock-silicon-labs-blasts-higher-on-q3-earnings/?src=A00220","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1189541762","content_text":"Chipmaker Silicon Laboratories(SLAB) on Wednesday crushed expectations for its fiscal third quarter and guided much higher for the current period. The news sent SLAB stock skyward.\nThe Austin, Texas-based company earned an adjusted 34 cents a share on sales of $184.8 million in the quarter ended Oct. 2. Analysts expected Silicon Labs to earn 15 cents a share on sales of $175.2 million, according to FactSet.\nIts sales from continuing operations rose 39% year over year. During the third quarter, Silicon Labs completed the divestiture of its Infrastructure and Automotive business to Skyworks Solutions(SWKS) for $2.75 billion in cash.\nFor the current quarter, Silicon Labs expects to earn an adjusted 55 cents a share on sales of $200 million. That's based on the midpoint of its outlook. Wall Street was modeling earnings of 19 cents a share on sales of $179 million, FactSet said.\nSLAB Stock Breaks Out\nOn the stock market today, SLAB stock rocketed 18.9% to close at 184.06. Earlier in the session, it notched a record high of 189.39.\nOn Wednesday, SLAB stock broke out of a 36-week consolidation period at abuy point of 163.53, according to IBD MarketSmithcharts.\nSilicon Labs is a leader in wireless chips for Internet of Things, or IoT, applications.\n\"IoT solutions are being adopted at a rapid pace in large, diverse, and fast-growing home and industrial end markets,\" Chief Executive Tyson Tuttle said in a news release.","news_type":1},"isVote":1,"tweetType":1,"viewCount":1549,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":1,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"hasMoreComment":false,"orderType":2}

Chipmaker Silicon Labs Blasts Higher On Better-Than-Expected Earnings

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