Silicon Laboratories Inc (SLAB)

Silicon Laboratories Stock (SLAB) dropped by 5.44% from $92.18 to $87.17 in the trading on Wednesday November 1, 2023. The reason why SLAB stock down today is due to disappointing forward guidance. Silicon Labs provided a wide guidance range for fourth-quarter revenue to be between $70 million and $100 million, with an adjusted net loss per share of between $1.66 and $1.22. Both ranges were far below Wall Street's consensus expectations, which called for fourth-quarter earnings of $0.67 per share on revenue of $204.9 million.

Silicon Laboratories Inc. (SLAB) plunged 9.02% to $144.40 following quarterly results. Home and life revenue fell 33% year over year, suffering from bloated inventory in the sales channel. However, what sent ripples through the market was management's commentary on expected weakness in both business segments heading into the third quarter.

https://www.fool.com/investing/2023/07/26/why-silicon-laboratories-stock-was-falling-today