Needham analyst N. Quinn Bolton upgraded Silicon Laboratories, Inc (NASDAQ:SLAB) to a Buy rating from a Hold rating with a price target of $150.
According to the analyst, the company is well-positioned for the semiconductor cyclical recovery.
Following the first-quarter earnings report, Bolton expects consensus estimates will reflect a more moderate recovery.
The analyst flagged how the management called out three drivers that underpin a second-half recovery, including inventory de-stocking, the ramp of new design wins and improvements in end market demand.
Bolton is encouraged by improving inventory levels at end customers and distributors, increasing order trends, robust operating leverage and new design wins …
Full story available on Benzinga.com