Why Silicon Labs Stock Jumped Today
Shares of Silicon Labs (NASDAQ: SLAB) have jumped today, up by 9% as of 1:20 p.m. EDT, after the company reported first-quarter earnings results this morning. The chipmaker also said yesterday that it had closed its acquisition of Redpine Signals' connectivity business. Revenue in the first quarter came in at $214.9 million, crushing the consensus estimate of $202.2 million.