Silicon Laboratories (NASDAQ:SLAB) Updates Q2 Earnings Guidance

Silicon Laboratories (NASDAQ:SLAB) updated its second quarter earnings guidance on Wednesday. The company provided EPS guidance of ($0.58)-($0.70) for the period, compared to the consensus EPS 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.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. TD Cowen dropped their price target on Silicon Laboratories from $155.00 to $145.00 and set a buy rating on the stock in a research note on Thursday. Summit Insights cut Silicon Laboratories from a buy rating to a hold rating in a research report on Wednesday. Needham & Company LLC raised shares of Silicon Laboratories from a hold rating to a buy rating and set a $150.00 price target for the company in a research report on Thursday. Barclays increased their price objective on shares of Silicon Laboratories from $120.00 to $140.00 and gave the stock an equal weight rating in a research note on Thursday, February 8th. Finally, StockNews.com downgraded Silicon Laboratories from a hold rating to a sell rating in a research report on Friday, December 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and an average price target of $142.88.

Silicon Laboratories Stock Performance

Shares of Silicon Laboratories stock traded up $5.54 during trading hours on Thursday, hitting $119.80. The company’s stock had a trading volume of 156,215 shares, compared to its average volume of 321,139. The company has a market cap of $3.82 billion, a PE ratio of -107.59 and a beta of 1.27. The business has a 50 day moving average price of $134.92 and a two-hundred day moving average price of $122.17. Silicon Laboratories has a 12-month low of $74.56 and a 12-month high of $166.94.

Silicon Laboratories (NASDAQ:SLAB) last issued its 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 4.41% and a positive return on equity of 0.97%. The business had revenue of $106.38 million for the quarter, compared to the consensus estimate of $104.45 million. As a group, research 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.