TD Cowen analyst Matthew Ramsay lowered the firm’s price target on Silicon Labs to $100 from $165 and keeps an Outperform rating on the shares. The firm said the company’s long-term fundamental thesis remains intact as a pure play in IoT, but near-term will be extremely difficult amid an inventory correction.
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Read More on SLAB:
- Silicon Labs price target lowered to $110 from $190 at Wells Fargo
- Silicon Labs price target lowered to $130 from $180 at KeyBanc
- Silicon Labs upgraded to Equal Weight at Barclays with ‘bottom in’
- Silicon Labs upgraded to Equal Weight from Underweight at Barclays
- Silicon Labs sees Q4 adjusted EPS ($1.66)-($1.22), consensus 67c