Silicon Laboratories (NASDAQ:SLAB) Issues Q2 2024 Earnings Guidance

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of -0.700--0.580 for the period, compared to the consensus earnings per share 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.

Silicon Laboratories Trading Down 8.9 %

NASDAQ SLAB traded down $11.15 on Wednesday, hitting $114.26. 1,425,865 shares of the company traded hands, compared to its average volume of 323,540. The company has a market capitalization of $3.65 billion, a price-to-earnings ratio of -101.11 and a beta of 1.27. The business's 50 day moving average price is $134.92 and its 200-day moving average price is $122.17. Silicon Laboratories has a 52-week low of $74.56 and a 52-week high of $166.94.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The semiconductor company reported ($1.46) EPS for the quarter, beating the consensus estimate of ($1.91) by $0.45. Silicon Laboratories had a positive return on equity of 0.97% and a negative net margin of 4.41%. The business had revenue of $86.85 million for the quarter, compared to the consensus estimate of $85.32 million. As a group, sell-side analysts predict that Silicon Laboratories will post -1.66 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on SLAB shares. StockNews.com downgraded Silicon Laboratories from a hold rating to a sell rating in a research report on Friday, December 29th. Barclays boosted their price objective on Silicon Laboratories from $120.00 to $140.00 and gave the company an equal weight rating in a research report on Thursday, February 8th. Summit Insights downgraded Silicon Laboratories from a buy rating to a hold rating in a research report on Wednesday. TD Cowen lifted their target price on Silicon Laboratories from $140.00 to $155.00 and gave the stock an outperform rating in a report on Thursday, February 8th. Finally, Stifel Nicolaus lifted their target price on Silicon Laboratories from $136.00 to $155.00 and gave the stock a buy rating in a report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $143.29.

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.