Barclays Maintains an 'Equalweight' on Silicon Labs (SLAB); Another Reset as Video Inventory Adds to Broader End Market Softness
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Price: $125.41 +5.28%
Rating Summary:
14 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
Rating Summary:
14 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
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Barclays maintains an 'Equalweight' on Silicon Labs (NASDAQ: SLAB) price target lowered from $42 to $38.
Barclays analyst says, "Silicon Labs guided Q3 revenues sharply lower (down 5-10% in a seasonally strong quarter) due to inventory issues in Video, which layer on top of broader industry softness. We are maintaining our EW and remain on the sidelines until we get better clarity into when its growth drivers (Video, Timing, Isolation, MCU, touch) will provide enough upside to offset the expected fall offs in Access and Tuners and what we expect to be a challenging pricing environment in Video...Our CY11 Revenues/EPS estimates move to $483M and $1.64 (from $519M and $1.97 prior). CY12 now $508M/$1.73 (was $598M/$2.57)."
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 $36.19 yesterday.
Barclays analyst says, "Silicon Labs guided Q3 revenues sharply lower (down 5-10% in a seasonally strong quarter) due to inventory issues in Video, which layer on top of broader industry softness. We are maintaining our EW and remain on the sidelines until we get better clarity into when its growth drivers (Video, Timing, Isolation, MCU, touch) will provide enough upside to offset the expected fall offs in Access and Tuners and what we expect to be a challenging pricing environment in Video...Our CY11 Revenues/EPS estimates move to $483M and $1.64 (from $519M and $1.97 prior). CY12 now $508M/$1.73 (was $598M/$2.57)."
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 $36.19 yesterday.
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