Needham & Company Remains Sidelined on Silicon Labs (SLAB) Following Announced Micrium Acquisition
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Needham & Company reiterated a Hold rating on Silicon Labs (NASDAQ: SLAB) following the company's announced acquisition of Micrium. The acquisition is part of a series that SLAB has made in the IoT space.
Analyst Rajvindra Gill commented, "This week, Silicon Laboratories announced the acquisition of Micrium, a leading supplier of software for the IoT space. With software a key component of IoT products, Micrium’s real-time operating system (RTOS) helps simplify and expedite IoT programing for developers. This operating system will be integrated with SLAB’s IoTs hardware for a fully integrated solution and will spur growth in SLAB’s IoTs division which grew 8.3% Q/Q last quarter. The Micrium acquisition is part of a series of acquisitions that SLAB has made in the IoT space, and bolsters its IoT portfolio of assets."
Shares of Silicon Labs closed at $58.59 yesterday.
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