Needham Remains a Buy on Silicon Laboratories (SLAB)
Needham analyst Rajvindra Gill maintained a Buy rating on Silicon Laboratories (SLAB) today and set a price target of $100.00. The company’s shares closed last Monday at $69.45, close to its 52-week low of $69.41.
According to TipRanks.com, Gill is a 4-star analyst with an average return of 2.5% and a 44.3% success rate. Gill covers the Consumer Goods sector, focusing on stocks such as Sequans Communications S A, Smart Global Holdings, and Everspin Technologies.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Silicon Laboratories with a $118.80 average price target, implying a 51.4% upside from current levels. In a report released yesterday, Wells Fargo also maintained a Buy rating on the stock.
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Based on Silicon Laboratories’ latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $9.72 million. In comparison, last year the company had a net profit of $15.15 million.
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Silicon Laboratories, Inc. designs and develops analog-intensive and mixed-signal integrated circuits. The firm offers microcontrollers, wireless, sensors, USB bridges, analog, clocks and oscillators, isolators, power, audio & radio, modems and TV & video product categories.