Silicon Laboratories Inc. (SLAB) Initiated With Buy Rating at Needham

Silicon Laboratories Inc. (SLAB) has been initiated today with new coverage from the research analysts at Needham.  Needham begins this new coverage of SLAB with an initial price target set at $51 dollars and rates SLAB as a “buy”.  SLAB is trading beneath its 10-day moving average during intraday trading.

Silicon Labs is slated to release their next earnings report on July 28, 2011 and is estimated to post EPS of 48 cents.  Their last earnings report was released on April 27, 2011 and announced EPS of 40 cents with revenue totaling $119.6 million which was down -5.6 % year to year.  SLAB is currently trading above its 50 & 200-day moving averages however 2011 is currently a down year for the company.

Silicon Laboratories Inc. designs and develops proprietary, analog-intensive, mixed-signal integrated circuits (ICs) for a broad range of applications.  The company has market capitalization of $1,881,000,000 and 44,042,000 shares outstanding.  SLAB has a 52-week high of $50.27 with the low being $34.10.

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