Silicon Laboratories Reported a Massive Beat on Earnings and Siyata Mobile Inc Received an Investment
Silicon Laboratories is a technology company that works in the chip industry, which makes the word silicon a lot more relevant, and they are in the new Silicon Valley, Austin, Texas. They have a market cap of $8.24 billion, and they are competitors with big names like AMD.
On Wednesday, Silicon Labs reported their third quarter earnings, and it was a massive beat. Earnings per share was 34 cents, beating the expectation of 15 cents per share, and sales sat at $184.8 million, slightly beating the $175.2 million that analysts expected. Silicon Labs’ work in the IoT business seems to be working very well for them, and their $2.75 billion sale of the infrastructure business to Skyworks helped their quarterly results. Silicon Labs closed the day at $184.06, up 18.86%.
Siyata Mobile Inc
Siyata Mobile is a Canadian technology company that provides cellular communication solutions for customers around the world. They are a super small company, though, with a market cap of $25.526 million, which makes them a nano-cap company.
As Wednesday morning rolled around, Siyata announced that they signed a $6 million deal with Lind Global Partners II, which is an investment fund managed by The Lind Partners. It is equivalent to $10 per share, and there is 0 percent interest on the investment. Siyata will have to pay monthly payments in cash to Lind, and Lind has received a lot of stock warrants in return. Siyata’s CEO said that this will help boost their profitability, and that makes sense as $6 million is a lot of money for a company like this. Siyata, being a penny stock, closed the day at $5.30, up 83.39%.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.