Silicon Labs price target lowered to $115 from $150 at KeyBanc

KeyBanc lowered the firm’s price target on Silicon Labs (SLAB) to $115 from $150 and keeps an Overweight rating on the shares. The firm notes Silicon Labs reported in-line Q2 results and guided Q3 flat quarter-over-quarter, meaningfully below consensus expectations for 13% quarter-over-quarter growth, as weakness within Industrial IoT broadened offsetting continue strength and recovery within Home & Life.