Needham & Company Reiterates a 'Buy' on Silicon Labs (SLAB); Positive Meeting with Management
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Price: $124.44 +4.47%
Rating Summary:
14 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 11 | New: 13
Rating Summary:
14 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 11 | New: 13
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Needham & Company reiterates a 'Buy' on Silicon Labs (NASDAQ: SLAB) price target of $49.00.
Analyst, Vernon Essi, Jr., said, "Last week we hosted SLAB management through a series of client meetings on the West Coast. CEO Tuttle was perhaps to some degree on a damage control mission post the Q1 results call where he inadvertently telegraphed an exit of the Touch controller business, which adversely impacted the shares. Most of the discussion concerned the longer-term SLAB strategy and the reasoning and fit of the Ember acquisition. Our initial apprehension about Tuttle’s appointment and his seeming drive to emphasize the tuner business, with which he is credited for successful growth, looks unwarranted in retrospect as he was promoting to investors the strengths of the Broad-Based businesses as opposed to the vertical opportunities. We continue to view the Ember acquisition favorably and believe SLAB is very well positioned to propagate its mixed signal silicon into a world of interconnected wireless sensor nodes."
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 $33.07 yesterday.
Analyst, Vernon Essi, Jr., said, "Last week we hosted SLAB management through a series of client meetings on the West Coast. CEO Tuttle was perhaps to some degree on a damage control mission post the Q1 results call where he inadvertently telegraphed an exit of the Touch controller business, which adversely impacted the shares. Most of the discussion concerned the longer-term SLAB strategy and the reasoning and fit of the Ember acquisition. Our initial apprehension about Tuttle’s appointment and his seeming drive to emphasize the tuner business, with which he is credited for successful growth, looks unwarranted in retrospect as he was promoting to investors the strengths of the Broad-Based businesses as opposed to the vertical opportunities. We continue to view the Ember acquisition favorably and believe SLAB is very well positioned to propagate its mixed signal silicon into a world of interconnected wireless sensor nodes."
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 $33.07 yesterday.
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