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

Silicon Laboratories (NASDAQ:SLAB) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of -0.700–0.580 for the period, compared to the consensus 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 Up 2.7 %

Shares of SLAB opened at $122.13 on Friday. The firm’s 50-day moving average price is $133.57 and its 200-day moving average price is $122.15. The firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of -36.90 and a beta of 1.27. Silicon Laboratories has a 1-year low of $74.56 and a 1-year high of $166.94.

Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results on Wednesday, April 24th. The semiconductor company reported ($1.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.29) by ($0.05). The company 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%. On average, research analysts forecast that Silicon Laboratories will post -1.66 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SLAB shares. Stifel Nicolaus lifted their target price on shares of Silicon Laboratories from $136.00 to $155.00 and gave the company a buy rating in a research note on Tuesday, January 2nd. Summit Insights lowered shares of Silicon Laboratories from a buy rating to a hold rating in a research note on Wednesday. Citigroup dropped their price objective on shares of Silicon Laboratories from $137.00 to $120.00 and set a neutral rating on the stock in a research note on Thursday. Benchmark reissued a hold rating on shares of Silicon Laboratories in a research note on Thursday. Finally, StockNews.com lowered shares of Silicon Laboratories from a hold rating to a sell rating in a research note on Friday, December 29th. One 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 MarketBeat, Silicon Laboratories presently has a consensus rating of Hold and a consensus 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.