Silicon Labs (SLAB) PT Raised to $195 at Needham & Company on SOTP Following Reports of Potential Analog Sale
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Needham & Company analyst Rajvindra Gill raised the price target on Silicon Labs (NASDAQ: SLAB) to $195.00 (from $150.00) while maintaining a Buy rating following reports the company is considering a potential sale of its analog chip business for ~$2-3B.
"Based on the comps, we think SLAB could fetch 7-8x sales or $3BN...Based on our sum-of-the-parts analysis post the potential spin, and an estimated $3BN of cash from the sale, we calculate a market value of $8.4BN-$9BN or $188-$201/share($195/share average)."
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