UBS Maintains a 'Buy' on Silicon Labs (SLAB); Q2 Preview and Beyond
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Price: $218.41 +0.05%
Rating Summary:
10 Buy, 19 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
10 Buy, 19 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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UBS maintains a 'Buy' on Silicon Labs (NASDAQ: SLAB) price target of $43.00 (from $44.00).
Analyst, Steven Eliscu, said, "We expect sales/non-GAAP EPS of $132.1m (+5.1% q/q)/$0.47, in line with consensus. We expect its Broad-based segment (ex-Touch) to drive most the sequential growth, mainly from timing and microcontrollers. The degree to which the macro slowdown impacted 2Q sales/3Q guidance will be telling as to how much its Broadcast customers built up inventory as well as the quality of its Broad-based design win momentum. Overall, we still expect +4% sales in 2012 (ex-Touch, Ember) in a challenging macro environment."
Looking to Q3, Eliscu, sees macro headwinds and impact from Ember acquisition, and therefore raises sales estimates by 2% to $141.5M, but lowers non-GAAP EPS estimates 4% to $0.52. Further out, he sees a positive 2013 TV tuner design win update helping to reduce stock tail risk. (FY12 EPS estimate cut from $1.30 to $1.24 and FY13 from $1.85 to $1.67)
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 $36.38 yesterday.
Analyst, Steven Eliscu, said, "We expect sales/non-GAAP EPS of $132.1m (+5.1% q/q)/$0.47, in line with consensus. We expect its Broad-based segment (ex-Touch) to drive most the sequential growth, mainly from timing and microcontrollers. The degree to which the macro slowdown impacted 2Q sales/3Q guidance will be telling as to how much its Broadcast customers built up inventory as well as the quality of its Broad-based design win momentum. Overall, we still expect +4% sales in 2012 (ex-Touch, Ember) in a challenging macro environment."
Looking to Q3, Eliscu, sees macro headwinds and impact from Ember acquisition, and therefore raises sales estimates by 2% to $141.5M, but lowers non-GAAP EPS estimates 4% to $0.52. Further out, he sees a positive 2013 TV tuner design win update helping to reduce stock tail risk. (FY12 EPS estimate cut from $1.30 to $1.24 and FY13 from $1.85 to $1.67)
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 $36.38 yesterday.
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