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Silicon Labs price target raised to $130 from $100 at Barclays

Barclays analyst Tom O’Malley raised the firm’s price target on Silicon Labs (SLAB) to $130 from $100 and keeps an Equal Weight rating on the shares. The Q2 print was quite clean and the margin uplift from additional disti is something the company has pointed to for multiple quarters, the analyst tells investors in a research note. The firm added that, while it thinks the stock reaction is a bit unwarranted here, its new price target reflects a “wholesome” roughly 35x discounted multiple on the company’s long-term operating model.

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