Silicon Labs (SLAB) PT Raised to $150 at Needham & Company Following EPS
Get Alerts SLAB Hot Sheet
Rating Summary:
15 Buy, 12 Hold, 0 Sell
Rating Trend:

Today's Overall Ratings:
Up: 18 | Down: 10 | New: 17
Join SI Premium – FREE
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
Needham & Company analyst Rajvindra Gill raised the price target on Silicon Labs (NASDAQ: SLAB) to $150.00 (from $120.00) while maintaining a Buy rating.
The analyst commented, "SLAB reported strong sales, beating the top end of its guidance range by 5%, but Non-GAAP GMs came in at 58.6%, 40bps below the midpoint. A clear sign of demand outstripping supply (50% growth in bookings) driven by IoT and EVs, SLAB reported increasing lead times and rising costs due to foundry capacity wafer limits, noting its main foundry partner, TSMC, is reportedly 40-50% overbooked. A shift to more IoT vs. Infra/Auto revenues also negatively impacts GMs. As more capacity comes online, we expect margins to gradually improve. We are raising our PT to $150 on our newly rolled-out ests of $3.60."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: UBS Upgrades EnLink Midstream, LLC (ENLC) to Buy
- Snap-On (SNA) PT Raised to $260 at Oppenheimer Following Earnings
- UPDATE: Wolfe Research Starts Workday (WDAY) at Outperform
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS View, Analyst PT ChangeRelated Entities
Needham & CompanySign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!