Analyst Quinn Bolton of Needham maintained a Buy rating on Silicon Laboratories (SLAB – Research Report), retaining the price target of $150.00.
Quinn Bolton has given his Buy rating due to a combination of factors that highlight Silicon Laboratories’ promising growth prospects. The company has projected a compound annual growth rate (CAGR) in revenue of over 20% by the calendar year 2025, with potential upside reaching up to 25%. This optimistic outlook is supported by the company’s significant design wins, valued at approximately $10 billion from 2022 to 2024, which covers about 90% of the necessary wins to meet their growth targets.
Additionally, Silicon Laboratories has updated its total addressable market (TAM) metrics across various end markets, which further strengthens its growth potential. The company has also improved its gross margin and operating margin targets, indicating a strong financial position. The introduction of notable features in its Series 3 Platform adds to the company’s competitive edge, making it an attractive investment opportunity. These factors collectively justify the Buy rating from Quinn Bolton.
According to TipRanks, Bolton is a 5-star analyst with an average return of 9.6% and a 45.05% success rate. Bolton covers the Technology sector, focusing on stocks such as ON Semiconductor, Silicon Laboratories, and Microchip.
In another report released yesterday, Benchmark Co. also reiterated a Buy rating on the stock with a $160.00 price target.