Silicon Laboratories falls after underwhelming Q3 forecast

Silicon Laboratories

26/07/2023 14:39

** Shares of wireless technology co Silicon Laboratories
 SLAB.O  fall 9.6% to $143.53
    ** Co sees Q3 adj EPS in range of 45 cents-73 cents, below
analysts' forecast of $1.08 - Refinitiv data
    ** Guides Q3 rev in range of $190 mln-$210 mln, short of
Wall Street's estimate of $254.35 mln
    ** Reports Q2 rev of $244.6 mln, down from $263.2 mln but
beats consensus of $242.9 mln
    ** Q2 adj EPS of $1.04 narrowly beats consensus of $1.03  
    ** Six of 12 brokerages rate the stock "buy" or higher, five
"hold" and one "sell"; their median PT is $180
    ** Including session's losses, stock up 5.7% YTD

 (Reporting by Shashwat Chauhan in Bengaluru)
 ((Shashwat.Chauhan@thomsonreuters.com;))