Wells Fargo lowered the firm’s price target on Silicon Labs to $110 from $190 and keeps an Overweight rating on the shares following anomaly-like Q4 guide indicative of inv drain in the company’s channel. When Q4 is finished, Silicon Labs disti/customer inv should be rid of much of the excess inv, setting up Q4 as the revenue bottom.
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Read More on SLAB:
- 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
- Silicon Labs reports Q3 adjusted EPS 62c, consensus 61c
- Silicon Labs Reports Third Quarter 2023 Results