Silicon Labs downgraded to Hold from Buy at Stifel

Stifel downgraded Silicon Labs (SLAB) to Hold from Buy with a price target of $231, up from $165, after Texas Instruments (TXN) announced an agreement to acquire the company for $231 per share in cash. For Silicon Labs, the firm believes the transaction demonstrates the value of the company’s low power IoT/connectivity solutions, while for TI the firm believes this represents “a solid use of capital” and serves as a high-value extension of its embedded processing portfolio, the analyst tells investors.