Silicon Labs price target lowered to $120 from $137 at Citi

Citi analyst Atif Malik lowered the firm’s price target on Silicon Labs to $120 from $137 and keeps a Neutral rating on the shares. The company reported better March quarter exults but guided the June quarter below Street estimates, the analyst tells investors in a research note. The firm is a believer in Silicon Labs’ Series 2/3 product cycle story but awaits clear signs of a recovery in demand before turning constructive on the stock.