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

July 25, 2014 1:32 PM EDT Send to a Friend
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Price: $43.99 -0.09%

Rating Summary:
    14 Buy, 7 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 24 | Down: 28 | New: 14
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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.



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