UBS Maintains a 'Buy' on Silicon Labs (SLAB); Making Minor Adjustments, But Recent Sell-Off Overdone
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Price: $142.66 +1.72%
Rating Summary:
14 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 10 | New: 11
Rating Summary:
14 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 10 | New: 11
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UBS maintains a 'Buy' on Silicon Labs (NASDAQ: SLAB) price target lowered from $50 to $48.
Analyst, Steven Eliscu, said, "Silicon Labs 1Q sales/non-GAAP EPS of $125.7m/$0.43 were ahead of estimates on the strength of TV tuner and touch controller sales. As the company announced a strategic review of its touch business for smartphones, we expect it to exit that segment by 2013. We believe its priority on operating leverage will result in its touch controller assets being used where they can create synergies with its other Broad-based product lines. While we trim estimates and PT to $48 from $50, we maintain our Buy and believe the stock pullback provides an attractive buying opportunity."
FY12 EPS estimate cut from $1.36 to $1.30 and FY13 from $2.14 to $2.03.
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 $33.66 yesterday.
Analyst, Steven Eliscu, said, "Silicon Labs 1Q sales/non-GAAP EPS of $125.7m/$0.43 were ahead of estimates on the strength of TV tuner and touch controller sales. As the company announced a strategic review of its touch business for smartphones, we expect it to exit that segment by 2013. We believe its priority on operating leverage will result in its touch controller assets being used where they can create synergies with its other Broad-based product lines. While we trim estimates and PT to $48 from $50, we maintain our Buy and believe the stock pullback provides an attractive buying opportunity."
FY12 EPS estimate cut from $1.36 to $1.30 and FY13 from $2.14 to $2.03.
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 $33.66 yesterday.
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