Silicon Labs (SLAB) PT, Estimates Trimmed at Needham & Company; 'Buy' Maintained
- Wall St ends flat; Disney, retailers dip on sales worries
- Why Martin Shkreli ONLY Cares About KaloBios Pharma's (KBIO) Stock Price
- China stocks tumble most since summer slump as brokerage probe widens
- FBR Capital's Ives Sees Growing Apple Watch Interest (AAPL)
- Target (TGT) Notes Strong Black Friday Sales Start; Apple, Giant Stuffed Teddy Bear Lead Charge
Needham & Company analyst Vernon Essi, Jr. trimmed his estimates on Silicon Labs (NASDAQ: SLAB) to $51.00 (from $53.00) but maintained Buy rating following Q2 results.
Essi comments, "SLAB delivered Q2 upside in part driven by a patent royalty sale favorably impacting rev/EPS by $5M/$0.08. Without this impact rev/EPS would still have exceeded the upper end of the guided ranges. The Q3 revenue guide was a touch below consensus while EPS is a solid miss due to ongoing patent litigation that is expected to run $3M/Q (or $0.05 in EPS headwind) near-term. Otherwise the business segments were in fairly solid shape, especially Broad-based, which posted record revenues driven by IoT, and upside in Access."
FY 2014 EPS goes from $2.00 to $1.90 and FY 2015 EPS goes from $2.40 to $2.10.
Shares of Silicon Labs are down 13.9% today to $40.30.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Daktronics (DAKT) Miss Mostly due to Outdoor Live Events Business; Needham & Company Cuts Price Target to $9.50
- Argus Upgrades Palo Alto Networks (PANW) to Buy
- Sky Solar Holdings (SKYS) Posts Weaker-Than-Expected Earnings; Roth Capital Cuts Price Target to $10
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesNeedham & Company
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!