Silicon Labs price target lowered to $145 from $155 at TD Cowen

TD Cowen analyst Matthew Ramsay lowered the firm’s price target on Silicon Labs to $145 from $155 and keeps a Buy rating on the shares. The firm said they are seemingly past the trough of a sharp inventory correction, though slope and timing of the quarterly recovery remains exceedingly difficult to model given ongoing customer inventory de-stocking set against still-ramping design wins.