Needham Remains Buy on Silicon Labs (SLAB) Following Non-Deal Roadshow

Needham & Company analyst Rajvindra Gill maintains Buy on Silicon Labs (NASDAQ: SLAB) price target of $115.00.

The analyst comments "We came away more confident that the IoT segment (~53.5% of sales) should reaccelerate in C4Q19/1H19 primarily fueled by the reigniting of the U.K. Smart Metering ramp. We also discussed the possible impact on tariffs and believe, at this stage, it will have a minimal impact on SLAB's overall business. We are encouraged by the continued ramp in timing and isolation products, which carry significantly higher gross margins. With the stock down about 10.5% over the past three-months (vs. +5.6% SP50), we believe these risks have been largely priced in and we see upside for the shares to $115/share."

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 $98.00 yesterday.

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