Silicon Labs Stock Gains On Q4 Beat, Robust Q1 Guidance - Silicon Laboratories (NASDAQ:SLAB)

Silicon Laboratories Inc SLAB reported fourth-quarter FY21 revenue growth of 43% 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%. The non-GAAP operating margin contracted 240 bps to 16.3%.
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."
Price Action: SLAB shares traded higher by 6.34% at $175.90 in the premarket session on the last check Wednesday.