Needham Reaffirms Their Hold Rating on Silicon Laboratories (SLAB)

By Ryan Adsit

Needham analyst Rajvindra Gill maintained a Hold rating on Silicon Laboratories (SLABResearch Report) today. The company’s shares closed last Monday at $110.21, close to its 52-week high of $115.29.

According to TipRanks.com, Gill is a 5-star analyst with an average return of 12.5% and a 58.7% success rate. Gill covers the Consumer Goods sector, focusing on stocks such as Everspin Technologies Inc, Smart Global Holdings Inc, and Adesto Technologies Corp.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Silicon Laboratories with a $121.00 average price target, a 7.1% upside from current levels. In a report released yesterday, Loop Capital Markets also maintained a Hold rating on the stock with a $108.00 price target.

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Based on Silicon Laboratories’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $20.18 million. In comparison, last year the company had a net profit of $27.76 million.

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Silicon Laboratories, Inc. designs and develops analog-intensive and mixed-signal integrated circuits. It offers microcontrollers, wireless, sensors, USB bridges, analog, clocks and oscillators, isolators, power, audio & radio, modems and TV & Video product categories.