Time New York: Tue 21 Feb 09:27 am  |  Save 15% on H&R Block Online

  
caticonslite_bm_alt

Can Silicon Laboratories (SLAB) Run Higher on Strong Earnings Estimate Revisions?

Zacks

Silicon Laboratories Inc. SLAB is a developer of integrated circuits that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on SLAB’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Silicon Laboratories could be a solid choice for investors.

Current Quarter Estimates for SLAB

In the past 30 days, four estimates have gone higher for Silicon Laboratories while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 35 cents a share 30 days ago, to 41 cents per share today, a move of 17.1%.


Current Year Estimates for SLAB

Meanwhile, Silicon Laboratories’ current year figures are also looking quite promising, with five estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $1.80 per share 30 days ago to $2.09 per share today, an increase of 16.1%.

Bottom Line

The stock has also started to move higher lately, adding 8.7% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.

Just Released – Driverless Cars: Your Roadmap to Mega-Profits Today

In this latest Special Report, Zacks’ Aggressive Growth Strategist Brian Bolan explores a full-blown technological breakthrough in the making – autonomous cars. He also spotlights 8 stocks with tremendous gain potential to feed off this phenomenon. Click to see the stocks right now >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

To read this article on Zacks.com click here.
<-- You can share this post with your network,
or give us your opinion and leave a comment.
Be sure to check our RSS feeds for updates.