Silicon Laboratories Lifts 2Q Outlook

AUSTIN, Texas (AP) — Chip maker Silicon Laboratories Inc. raised its financial outlook for the second quarter Wednesday, adding to other tentative signs of stabilizing demand for the semiconductor industry.

The Austin, Texas, company now expects to report sales of $101 million to $105 million for the quarter ending this month, up from a previous estimate of $92 million to $97 million. Analysts polled by Thomson Reuters were looking for sales of $95.5 million.

Silicon Laboratories said a faster-than-expected rebound in some of its business units and new-product launches have strengthened sales. In a statement, the company said "visibility has improved considerably," with bookings and shipments looking "more consistent with healthy historical norms." ...