Silicon Labs (SLAB) PT Raised to $240 at Needham & Company

April 28, 2022 6:44 AM EDT
Get Alerts SLAB Hot Sheet
Price: $140.22 --0%

Rating Summary:
    14 Buy, 12 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 3 | Down: 12 | New: 10
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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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