Publication of results for the first quarter of fiscal year 2022
Publication of results for the first quarter of fiscal year 2022
On April 27, 2022, Silicon Labs released its fiscal first quarter 2022 results for the quarter ending March 2022. The company reported earnings per share (EPS) of $1.05 excluding one-time items over consensus estimates. analysts for a profit of $0.64, a beat of $0.41. Revenue rose 48.2% year-over-year (YoY) to $223.8 million, missing analyst estimates for $226.22 million. Non-GAAP gross margins increased 67%. The company announced and shipped partial samples of the xG24 family of systems on a chip (SOC) with strong customer response. The Company repurchased 1.76 million shares or $250 million. The board approved up to an additional $350 million through the end of 2022. Silicon Labs CEO Matt Johnson said, “We are off to an exceptional start in our first full year in as the largest pure-play IoT wireless company. We had record revenues in the quarter and excellent operating results. Demand for our solutions remains strong and our design momentum is accelerating across our wireless portfolio and in our industrial and commercial and residential and personal end markets. »
Upward direction
The company raised its second-quarter 2022 EPS forecast to $0.85 to $0.95 from analysts’ consensus estimate of $0.59.
Takeaways from the conference call
CEO Johnson continued to emphatically underscore and define the narrative that Silicon Labs is arguably the largest wireless IoT technology company in the world. He highlighted the strong demand for his products as design and momentum gather pace faster than his revenue growth of 79%: “Our pipeline of opportunities also continues to grow, now well over 14 billion. dollars, as we gain visibility and identify new opportunities within our large and growing market.” He developed the xG24 family of SOCs: “We are also extremely proud of the xG24 performance on the important MLCommons machine learning and inference performance benchmark. With built-in AI ML hardware acceleration, the xG24 wireless SoCs deliver up to four times faster processing with up to six times lower power consumption for machine learning workloads.This means that even very low power wireless IoT devices can now be enhanced with machine learning capabilities Its mainstream software and hardware solutions are purpose-built for IoT applications enabling efficient scaling for accelerated wireless adoption The company is positioned to lead and evolve in IoT and expects to reach billions of units per year over the decade.
SLAB Opportunistic withdrawal levels
Using rifle paintings over the weekly and daily time frames provides an accurate view of the price action playing field for SLAB stocks. Rifle’s weekly downtrend bottomed near $125.49 Fibonacci level (fib). The weekly 5-period moving average (MA) is sloping at $135.48 towards the weekly 15-period MA at $144.22. The weekly 50-period MA resistance sits at $159.06. The weekly 200-period MA support lies at $118.29. The weekly stochastic attempts to cross again at a higher crossover level, setting a divergence bottom on the weekly weak market structure (MSL) buying triggered above $143.62. The daily chart of the Rifles formed a puppy breakout with 5 period ascending MA support at $138.38 with 15 period ascending MA support at $137.14. The shares crossed the daily 50-period MA at $141.06. The daily upper Bollinger Bands (BB) lie at $147.98 as the daily Stochastic crosses back over the 70 band. The daily 200-period MA resistance lies at $162.45. Cautious investors can watch for opportunistic pullback levels at $139.37 fib, $134.18 fib, $132.82 fib, $128.93 fib, $125.47 fib, $119.32 fib, 113.98 $fib and the $108.37 fib level. The upward trajectories are from the $156.04 fib level to the $177.73 fib level.
