Silicon Labs (SLAB) PT Raised to $240 at Needham & Company
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Needham & Company analyst Rajvindra Gill raised the price target on Silicon Labs (NASDAQ: SLAB) to $240.00 (from $230.00) while maintaining a Buy rating following earnings.
The analyst commented, "We are increasing our price target to $240 (vs. $230) following another significant beat and raise quarter driven by 48% Y/Y growth in IoT, well above the long-term target of 20%. Industrial/commercial grew 61% Y/Y driven by secular trends in electronic shelf-labeling, asset monitoring, distribution automation & smart grids. Importantly, design win momentum is up 80%, outpacing revenue growth, which means if and when the company can activate supply from its main foundry partner (TSMC), it should be able to generate upside."
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Analyst PT Change
Related EntitiesNeedham & Company, Earnings
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