FBR Capital maintains a 'Market Perform' on Silicon Labs (SLAB); Checks Show Macro Issues May Limit Upside in TV and Timing
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Price: $125.15 +5.06%
Rating Summary:
14 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 11 | New: 13
Rating Summary:
14 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 11 | New: 13
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FBR Capital maintains a 'Market Perform' on Silicon Labs (NASDAQ: SLAB), PT $42.
FBR analyst says, "Recent checks for Silicon Labs have been mixed. On the one hand, excess LCD TV inventory will likely limit upside in TV tuners (though the firm's $60M target for 2011 is intact), some choppiness in optical and China infrastructure spending could limit upside in clock & timing products, and feature-phone handset weakness could impact FM tuner shipments. On the other hand, Taiwan production start checks show a solid positive revision to both 2Q and 3Q builds, suggesting it needs more product, and reflects healthy sequential growth. We now expect sequential revenue growth in 2Q11, 3Q11, and 4Q11, with the magnitude of that growth unknown. For 3Q11, revenues could be guided to $133M–$139M or to $135M–$140M, depending upon order trends and macro issues in mid July, in line with the Street's $136M. Regarding SLAB, shares are more interesting back below $40, and all things being equal could be attractive to us at $35–$37."
For more ratings news on Silicon Labs click here and for the rating history of Silicon Labs click here.
Shares of Silicon Labs closed at $39.13 yesterday.
FBR analyst says, "Recent checks for Silicon Labs have been mixed. On the one hand, excess LCD TV inventory will likely limit upside in TV tuners (though the firm's $60M target for 2011 is intact), some choppiness in optical and China infrastructure spending could limit upside in clock & timing products, and feature-phone handset weakness could impact FM tuner shipments. On the other hand, Taiwan production start checks show a solid positive revision to both 2Q and 3Q builds, suggesting it needs more product, and reflects healthy sequential growth. We now expect sequential revenue growth in 2Q11, 3Q11, and 4Q11, with the magnitude of that growth unknown. For 3Q11, revenues could be guided to $133M–$139M or to $135M–$140M, depending upon order trends and macro issues in mid July, in line with the Street's $136M. Regarding SLAB, shares are more interesting back below $40, and all things being equal could be attractive to us at $35–$37."
For more ratings news on Silicon Labs click here and for the rating history of Silicon Labs click here.
Shares of Silicon Labs closed at $39.13 yesterday.
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