Williams Financial Lifts Numbers on Silicon Labs (SLAB) on Q4 'Beat and Raise'
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Price: $41.94 +1.16%
Rating Summary:
12 Buy, 5 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
12 Buy, 5 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade SLAB Now!
Williams Financial Group boosted its price target on Silicon Labs (NASDAQ: SLAB) from $46 to $52 following Q4 'beat and raise.'
The analyst comments, "Silicon Labs this morning reported better than expected results and guidance with growth across all its major markets. Consistent with our September upgrade, SLAB’s increasing diversity into new products, segments, and customers looks to have a key driver of the outperformance. With this expansion strategy continuing to be the company’s focus, we expect further shares gains and above market growth. In our view, one of the strongest elements of the report is the weak environment in which SLAB is operating. Accordingly, we maintain our Buy rating and are increasing our target price from $46 to $52 or 22x our new FY13 EPS estimate of $2.33"
FY13 sales estimate moves to $614.5 million from $599.7 million and EPS moves to $2.33 from $2.23.
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 closed at $43.34 yesterday, with a 52 week range of $32.00-$46.64.
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The analyst comments, "Silicon Labs this morning reported better than expected results and guidance with growth across all its major markets. Consistent with our September upgrade, SLAB’s increasing diversity into new products, segments, and customers looks to have a key driver of the outperformance. With this expansion strategy continuing to be the company’s focus, we expect further shares gains and above market growth. In our view, one of the strongest elements of the report is the weak environment in which SLAB is operating. Accordingly, we maintain our Buy rating and are increasing our target price from $46 to $52 or 22x our new FY13 EPS estimate of $2.33"
FY13 sales estimate moves to $614.5 million from $599.7 million and EPS moves to $2.33 from $2.23.
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 closed at $43.34 yesterday, with a 52 week range of $32.00-$46.64.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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