Silicon Laboratories (NASDAQ:SLAB – Get Free Report) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of -0.700–0.580 for the period, compared to the consensus earnings per share estimate of -0.450. The company issued revenue guidance of $135.0 million-$145.0 million, compared to the consensus revenue estimate of $141.4 million. Silicon Laboratories also updated its Q2 guidance to ($0.58)-($0.70) EPS.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Silicon Laboratories from a hold rating to a sell rating in a research note on Friday, December 29th. Barclays boosted their price objective on shares of Silicon Laboratories from $120.00 to $140.00 and gave the company an equal weight rating in a report on Thursday, February 8th. Stifel Nicolaus boosted their price objective on shares of Silicon Laboratories from $136.00 to $155.00 and gave the company a buy rating in a report on Tuesday, January 2nd. TD Cowen boosted their price objective on shares of Silicon Laboratories from $140.00 to $155.00 and gave the company an outperform rating in a report on Thursday, February 8th. Finally, Summit Insights cut shares of Silicon Laboratories from a buy rating to a hold rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of $143.29.
Check Out Our Latest Stock Analysis on SLAB
Silicon Laboratories Stock Performance
Silicon Laboratories (NASDAQ:SLAB – Get Free Report) last issued its earnings results on Wednesday, February 7th. The semiconductor company reported ($1.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.91) by $0.45. Silicon Laboratories had a negative net margin of 4.41% and a positive return on equity of 0.97%. The firm had revenue of $86.85 million during the quarter, compared to analyst estimates of $85.32 million. On average, research analysts forecast that Silicon Laboratories will post -1.66 EPS for the current fiscal year.
Silicon Laboratories Company Profile
Silicon Laboratories Inc, a fabless semiconductor company, provides various analog-intensive mixed-signal solutions in the United States, China, Taiwan, and internationally. The company's products include wireless microcontrollers and sensor products. Its products are used in various electronic products in a range of applications for the industrial Internet of Things (IoT), including industrial automation and control, smart buildings, access control, HVAC control, and industrial wearables and power tools; smart cities applications, such as smart metering, smart street lighting, renewable energy, electric vehicle supply equipment, and smart agriculture; commercial IoT applications, including smart lighting, asset tracking, electronic shelf labels, theft protection, and enterprise access points; smart home applications, comprising home automation/security systems, smart speakers, smart lighting, HVAC control, smart cameras, smart appliances, smart home sensing, smart locks, and window/blind controls; and connected health applications, including diabetes management, consumer health and fitness, elderly care, patient monitoring, and activity tracking; as well as in commercial building automation, consumer electronics, and medical instrumentation.
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