Needham analyst Rajvindra Gill assigned a Buy rating to Silicon Laboratories (SLAB) today and set a price target of $120.00. The company’s shares closed last Wednesday at $102.14.
According to TipRanks.com, Gill is a 5-star analyst with an average return of 7.3% and a 52.6% success rate. Gill covers the Technology sector, focusing on stocks such as Sequans Communications S A, Everspin Technologies, and Smart Global Holdings.
Currently, the analyst consensus on Silicon Laboratories is a Moderate Buy with an average price target of $92.00, implying a -9.0% downside from current levels. In a report released today, 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 revenue of $219 million and net profit of $9.72 million. In comparison, last year the company earned revenue of $216 million and 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. It provides solutions for automotive, communications, data centers, healthcare & fitness, home automation & entertainment, industrial automation & power and retail industries. The company was founded by Navdeep S. Sooch, David R. Welland, and Jeffrey W. Scott in August 1996 and is headquartered in Austin, TX.
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