Silicon Labs Stock Gains on Q4 Beat, Robust Q1 Guidance

By Benzinga
Benzinga
Benzinga
February 2, 2022 Updated: February 2, 2022

Silicon Laboratories Inc. reported fourth-quarter FY21 revenue growth of 43 percent Y/Y to $208.68 million, beating the consensus of $200.2 million.

Margins

The non-GAAP gross margin expanded 280 bps to 61.4 percent. The non-GAAP operating margin contracted 240 bps to 16.3 percent.

The non-GAAP EPS of $0.77 beat the consensus of $0.57.

Silicon Labs held $2.04 billion in cash and equivalents.

Outlook

Silicon Lab sees Q1 FY22 revenue of $220 million – $230 million, above the consensus of $201.9 million, and non-GAAP EPS of $0.58 – $0.68, above the consensus of $0.46.

“We delivered record IoT revenue and gained momentum across our entire wireless portfolio,” said CEO Matt Johnson. “We’re well-positioned to take advantage of the accelerating IoT growth across smart home, medical, industrial, and commercial segments in 2022.”

By Anusuya Lahiri

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