Silicon Labs (SLAB) PT, Estimates Trimmed at Needham & Company; 'Buy' Maintained

July 25, 2014 1:32 PM EDT
Get Alerts SLAB Hot Sheet
Price: $65.20 +0.69%

Rating Summary:
    15 Buy, 9 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
Trade SLAB Now!
Join SI Premium – FREE

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.

For an analyst ratings summary and ratings history on Silicon Labs click here. For more ratings news on Silicon Labs click here.

Shares of Silicon Labs are down 13.9% today to $40.30.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

Related Entities

Needham & Company

Add Your Comment