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 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 Stock Down 1.1 %

Silicon Laboratories stock opened at $123.98 on Wednesday. The company has a fifty day simple moving average of $134.92 and a 200-day simple moving average of $122.17. The firm has a market capitalization of $3.96 billion, a price-to-earnings ratio of -110.98 and a beta of 1.27. Silicon Laboratories has a 52-week low of $74.56 and a 52-week high of $166.94.

Silicon Laboratories (NASDAQ:SLAB) last issued its earnings results on Wednesday, February 7th. The semiconductor company reported ($1.46) earnings per share (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 company had revenue of $86.85 million during the quarter, compared to analysts’ expectations of $85.32 million. On average, research analysts anticipate that Silicon Laboratories will post -1.66 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on SLAB shares. Stifel Nicolaus upped their price target on Silicon Laboratories from $136.00 to $155.00 and gave the stock a buy rating in a research note on Tuesday, January 2nd. JPMorgan Chase & Co. upped their target price on shares of Silicon Laboratories from $145.00 to $165.00 and gave the stock an overweight rating in a research note on Thursday, February 8th. Barclays boosted their target price 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. TD Cowen lifted their price target on Silicon Laboratories from $140.00 to $155.00 and gave the stock an outperform rating in a report on Thursday, February 8th. Finally, StockNews.com cut 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, four have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Silicon Laboratories currently has an average rating of Hold and a consensus target price of $143.29.

About Silicon Laboratories

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.