Silicon Laboratories (NASDAQ:SLAB) Issues Q2 Earnings Guidance

Silicon Laboratories (NASDAQ:SLAB) issued an update on its second quarter earnings guidance on Wednesday morning. 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.

Silicon Laboratories Trading Up 2.7 %

Shares of NASDAQ SLAB opened at $122.13 on Friday. Silicon Laboratories has a 12 month low of $74.56 and a 12 month high of $166.94. The firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of -36.90 and a beta of 1.27. The business has a 50-day moving average of $133.57 and a 200-day moving average of $122.15.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported ($1.34) EPS for the quarter, missing the consensus estimate of ($1.29) by ($0.05). Silicon Laboratories had a negative return on equity of 4.45% and a negative net margin of 16.36%. The business had revenue of $106.38 million for the quarter, compared to analysts’ expectations of $104.45 million. On average, analysts predict that Silicon Laboratories will post -1.66 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. StockNews.com lowered Silicon Laboratories from a hold rating to a sell rating in a research note on Friday, December 29th. Barclays cut their target price on Silicon Laboratories from $140.00 to $120.00 and set an equal weight rating for the company in a research note on Thursday. Summit Insights lowered Silicon Laboratories from a buy rating to a hold rating in a research note on Wednesday. TD Cowen cut their target price on Silicon Laboratories from $155.00 to $145.00 and set a buy rating for the company in a research note on Thursday. Finally, Benchmark reaffirmed a hold rating on shares of Silicon Laboratories in a research note on Thursday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Silicon Laboratories currently has an average rating of Hold and an average target price of $135.00.

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.