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Silicon Labs (SLAB) Surges 3.6%: Is This an Indication of Further Gains?
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Silicon Laboratories (SLAB - Free Report) shares soared 3.6% in the last trading session to close at $155.35. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 1.6% loss over the past four weeks.
The upswing in share price can be attributed to growing adoption of Silicon Laboratories solutions. The company’s expanding portfolio with the launch of e BG24 and MG24 2.4 GHz wireless SoCs and a new software toolkit that bring AI/ML acceleration and wireless high performance to battery-powered edge devices is noteworthy.
This chipmaker is expected to post quarterly earnings of $0.64 per share in its upcoming report, which represents a year-over-year change of -29.7%. Revenues are expected to be $225.24 million, down 11.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Silicon Labs, the consensus EPS estimate for the quarter has been revised 0.9% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on SLAB going forward to see if this recent jump can turn into more strength down the road.
Silicon Labs is part of the Zacks Semiconductor - Analog and Mixed industry. NXP Semiconductors (NXPI - Free Report) , another stock in the same industry, closed the last trading session 1.4% higher at $192.42. NXPI has returned 1.2% in the past month.
NXP's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $3.18. Compared to the company's year-ago EPS, this represents a change of +37.7%. NXP currently boasts a Zacks Rank of #2 (Buy).
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Silicon Labs (SLAB) Surges 3.6%: Is This an Indication of Further Gains?
Silicon Laboratories (SLAB - Free Report) shares soared 3.6% in the last trading session to close at $155.35. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 1.6% loss over the past four weeks.
The upswing in share price can be attributed to growing adoption of Silicon Laboratories solutions. The company’s expanding portfolio with the launch of e BG24 and MG24 2.4 GHz wireless SoCs and a new software toolkit that bring AI/ML acceleration and wireless high performance to battery-powered edge devices is noteworthy.
This chipmaker is expected to post quarterly earnings of $0.64 per share in its upcoming report, which represents a year-over-year change of -29.7%. Revenues are expected to be $225.24 million, down 11.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Silicon Labs, the consensus EPS estimate for the quarter has been revised 0.9% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on SLAB going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Silicon Labs is part of the Zacks Semiconductor - Analog and Mixed industry. NXP Semiconductors (NXPI - Free Report) , another stock in the same industry, closed the last trading session 1.4% higher at $192.42. NXPI has returned 1.2% in the past month.
NXP's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $3.18. Compared to the company's year-ago EPS, this represents a change of +37.7%. NXP currently boasts a Zacks Rank of #2 (Buy).