Silicon Laboratories (NASDAQ:SLAB – Get Free Report) updated its second quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of -0.700–0.580 for the period, compared to the consensus EPS 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.
Analyst Upgrades and Downgrades
SLAB has been the topic of a number of research analyst reports. Benchmark reissued a hold rating on shares of Silicon Laboratories in a research report on Thursday. JPMorgan Chase & Co. dropped their target price on Silicon Laboratories from $165.00 to $150.00 and set an overweight rating on the stock in a report on Thursday. TD Cowen dropped their price objective on Silicon Laboratories from $155.00 to $145.00 and set a buy rating on the stock in a report on Thursday. Stifel Nicolaus raised their price objective on Silicon Laboratories from $136.00 to $155.00 and gave the stock a buy rating in a report on Tuesday, January 2nd. Finally, Citigroup decreased their target price on shares of Silicon Laboratories from $137.00 to $120.00 and set a neutral rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $135.00.
Read Our Latest Report on Silicon Laboratories
Silicon Laboratories Trading Up 2.3 %
Silicon Laboratories (NASDAQ:SLAB – Get Free Report) last released its earnings results on Wednesday, April 24th. The semiconductor company reported ($1.34) EPS for the quarter, missing the consensus estimate of ($1.29) by ($0.05). The business had revenue of $106.38 million for the quarter, compared to analyst estimates of $104.45 million. Silicon Laboratories had a negative net margin of 16.36% and a negative return on equity of 4.45%. On average, equities research analysts anticipate that Silicon Laboratories will post -1.66 earnings per share 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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