Silicon Laboratories (NASDAQ:SLAB – Get Free Report) 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 Analyst Weigh In
Several brokerages recently issued reports on SLAB. JPMorgan Chase & Co. boosted their price target on Silicon Laboratories from $145.00 to $165.00 and gave the company an overweight rating in a research report on Thursday, February 8th. Stifel Nicolaus boosted their target price on Silicon Laboratories from $136.00 to $155.00 and gave the stock a buy rating in a research report on Tuesday, January 2nd. TD Cowen boosted their target price on Silicon Laboratories from $140.00 to $155.00 and gave the stock an outperform rating in a research report on Thursday, February 8th. Barclays boosted their target price on Silicon Laboratories from $120.00 to $140.00 and gave the stock an equal weight rating in a research report on Thursday, February 8th. Finally, StockNews.com cut Silicon Laboratories from a hold rating to a sell rating in a research report on Friday, December 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $143.29.
View Our Latest Stock Report on SLAB
Silicon Laboratories Price Performance
Silicon Laboratories (NASDAQ:SLAB – Get Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The semiconductor company reported ($1.46) EPS for the quarter, topping the consensus estimate of ($1.91) by $0.45. The business had revenue of $86.85 million for the quarter, compared to analyst estimates of $85.32 million. Silicon Laboratories had a positive return on equity of 0.97% and a negative net margin of 4.41%. On average, equities analysts anticipate that Silicon Laboratories will post -1.66 earnings per share 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.
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