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UPDATE: Citigroup Raises PT to $57 on Silicon Laboratories; Growth Despite Macro

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Citigroup reiterated its Buy rating on Silicon Laboratories (NASDAQ: SLAB) and increased its price target from $48 to $57.

Citigroup noted, "We increase C13 EPS to $2.66 from $2.43 with 6.5% higher sales and 50bps lower GM contributing to the variance. … We believe higher multiples are now appropriate for SLAB given: a) demonstrated above average and macro independent sector growth rates; and b) acquisition premium."

Silicon Laboratories closed at $42.29 on Wednesday.

Latest Ratings for SLAB

DateFirmActionFromTo
Jul 2016CitigroupMaintainsBuy
Apr 2016Stephens & Co.MaintainsEqual-weight
Mar 2016MKM PartnersMaintainsNeutral

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