Silicon Laboratories (NASDAQ:SLAB) Updates Q2 Earnings Guidance

Silicon Laboratories (NASDAQ:SLAB) updated its second quarter earnings guidance on Wednesday. The company provided earnings per share guidance of ($0.58)-($0.70) for the period, compared to the consensus earnings per share estimate of ($0.45). The company issued revenue guidance of $135-145 million, compared to the consensus revenue estimate of $142.02 million. Silicon Laboratories also updated its Q2 2024 guidance to -0.700–0.580 EPS.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. StockNews.com cut Silicon Laboratories from a hold rating to a sell rating in a research note on Friday, December 29th. Stifel Nicolaus boosted their price objective on Silicon Laboratories from $136.00 to $155.00 and gave the company a buy rating in a research report on Tuesday, January 2nd. Citigroup reduced their price target on Silicon Laboratories from $137.00 to $120.00 and set a neutral rating on the stock in a report on Thursday. JPMorgan Chase & Co. reduced their price target on Silicon Laboratories from $165.00 to $150.00 and set an overweight rating on the stock in a report on Thursday. Finally, TD Cowen reduced their price target on Silicon Laboratories from $155.00 to $145.00 and set a buy rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $135.00.

Silicon Laboratories Price Performance

Shares of Silicon Laboratories stock traded up $2.41 during midday trading on Friday, reaching $121.34. The company had a trading volume of 216,577 shares, compared to its average volume of 326,123. Silicon Laboratories has a fifty-two week low of $74.56 and a fifty-two week high of $166.94. The stock has a fifty day moving average price of $134.38 and a 200 day moving average price of $122.12. The firm has a market cap of $3.87 billion, a PE ratio of -35.93 and a beta of 1.27.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported ($1.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.29) by ($0.05). Silicon Laboratories had a negative net margin of 16.36% and a negative return on equity of 4.45%. The business had revenue of $106.38 million during the quarter, compared to analyst estimates of $104.45 million. As a group, sell-side analysts forecast that Silicon Laboratories will post -1.66 EPS for the current 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.