Silicon Laboratories falls on downbeat revenue forecast, Q1 miss

Silicon Laboratories

26/04/2023 13:15

** Shares of wireless technology co Silicon Laboratories Inc
 SLAB.O  fall 3.9% to $150 in premarket trading 
    ** Co forecasts Q2 revenue between $238 mln and $248 mln vs
analysts' average estimate of $258.4 mln - Refinitiv
    ** Posts Q1 revenue of $246.8 mln, missing ests of $247.6
mln
    ** Its Q1 net income fell to $14 mln from $22.9 mln a year
earlier; EPS at $1.12 on an adjusted basis
    ** Six of 11 brokerages rate the stock "buy" or higher, four
"hold" and one "sell"; their median PT is $200 - Refinitiv 
    ** Up to last close, stock has gained 15.03% YTD 
    


 (Reporting by Khushi Singh)
 ((Khushi.Singh@thomsonreuters.com;))