Stifel Reiterates Buy Rating on Silicon Labs (SLAB)

Stifel analyst Tore Svanberg reiterated a Buy rating and $150.00 price target on Silicon Labs (NASDAQ: SLAB).

The analyst commented, "This week, we hosted CEO Matt Johnson, CFO Dean Butler, and Senior Director of IR Giovanni Pacelli of the SLAB management team on an NDR in Europe. We came away from our meetings with a more grounded view of the company’s three key differentiators (Breadth, Depth, Focus) supporting high growth rates across multiple protocols and technologies, leading to an impressive $10bn design win pipeline. As such, while AI at the Edge is evolutionary and still a few years out, in our view, more devices need more robust connectivity to capture the full value of AI capabilities. This, in our view, is where SLAB is very well positioned with its 4 key networking offerings: (1) Sub-GHz, (2) 15.4 (Zigbee/Thread), (3) BLE, and (4) ultra-low power Wi-Fi. In our full note, we offer our key takeaways. Maintain Buy and 12-month Price Target of $160, representing a 5.2x CY26E EV/Sales multiple."

For an analyst ratings summary and ratings history on Silicon Labs click here. For more ratings news on Silicon Labs click here.

Shares of Silicon Labs closed at $135.52 yesterday.

You May Also Be Interested In

• Wells Fargo Upgrades Invitation Homes (INVH) to Overweight
• Stephens Upgrades Varonis Systems (VRNS) to Overweight
• U.S. Physical Therapy (USPH) Reiterated at Market Outperform by Citizens