Silicon Labs stock price target cut, Buy rating kept on current position By Investing.com
Tuesday, Needham maintained a Buy rating on Silicon Labs (NASDAQ:SLAB) shares while reducing the price target to $120 from $150. The firm cited a more gradual than anticipated broad market recovery, with Silicon Labs’ fourth-quarter guidance coming in flat quarter-over-quarter, falling short of expectations.
The analysis by Needham highlights several key points regarding Silicon Labs’ current market position and future prospects. Firstly, the company has not been able to meet strong growth assumptions due to only modest improvements in bookings and persistent industrial weakness. Secondly, despite these challenges, Silicon Labs continues to secure design wins across various customers and markets.
Needham predicts that certain products,…
