Why Silicon Laboratories (SLAB) Shares Are Gaining Today - Silicon Laboratories (NASDAQ:SLAB)

Silicon Laboratories Inc SLAB reported fourth-quarter FY22 revenue growth of 23% Y/Y to $257.33 million, beating the consensus of $250.23 million.
Margins: Non-GAAP gross margin decreased by ten bps to 61.3%. Non-GAAP operating margin expanded 260 bps to 18.9%.
Non-GAAP EPS of $1.31 beat the consensus of $0.98.
Silicon Labs held $1.19 billion in cash and equivalents.
"We are incredibly proud of our team's execution in doubling our organic revenue in two years to more than $1 billion annually, while at the same time increasing our design wins by 120%," CEO Matt Johnson said.
Outlook: Silicon Lab sees Q1 FY23 revenue of $242 million - $252 million, versus the consensus of $241.45 million, and non-GAAP EPS of $1.07 - $1.17, against the consensus of $0.77.
Price Action: SLAB shares traded higher by 13.94% at $178.79 on the last check Wednesday.

Silicon Laboratories Shares Surge On Q4 Beat, Robust Q1 Outlook