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

Silicon Laboratories (NASDAQ:SLAB) updated its second quarter 2024 earnings guidance on Wednesday. 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.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Stifel Nicolaus lifted their price target on shares of Silicon Laboratories from $136.00 to $155.00 and gave the company a buy rating in a research report on Tuesday, January 2nd. Needham & Company LLC upgraded shares of Silicon Laboratories from a hold rating to a buy rating and set a $150.00 price objective for the company in a research report on Thursday. Citigroup lowered their price objective on shares of Silicon Laboratories from $137.00 to $120.00 and set a neutral rating for the company in a research report on Thursday. StockNews.com downgraded shares of Silicon Laboratories from a hold rating to a sell rating in a research report on Friday, December 29th. Finally, TD Cowen lowered their price objective on shares of Silicon Laboratories from $155.00 to $145.00 and set a buy rating for the company in a research report on Thursday. One 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. According to MarketBeat, Silicon Laboratories currently has an average rating of Hold and a consensus price target of $135.00.

Silicon Laboratories Stock Up 2.7 %

Shares of Silicon Laboratories stock opened at $122.13 on Friday. Silicon Laboratories has a twelve month low of $74.56 and a twelve month high of $166.94. The stock has a market cap of $3.90 billion, a price-to-earnings ratio of -36.90 and a beta of 1.27. The company’s fifty day moving average is $133.57 and its 200 day moving average is $122.15.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported ($1.34) EPS for the quarter, missing analysts’ consensus estimates of ($1.29) by ($0.05). The firm had revenue of $106.38 million for the quarter, compared to the consensus estimate of $104.45 million. Silicon Laboratories had a negative net margin of 16.36% and a negative return on equity of 4.45%. As a group, equities 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.