Needham & Company Remains Sidelined on Silicon Labs (SLAB) Following Announced Micrium Acquisition

October 5, 2016 7:38 AM EDT
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Price: $68.25 --0%

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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."

For an analyst ratings summary and ratings history on Silicon Labs click here. For more ratings news on Silicon Labs click here.

Shares of Silicon Labs closed at $58.59 yesterday.

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