Silicon Labs price target lowered to $75 from $120 at Barclays

Barclays analyst Tom O’Malley lowered the firm’s price target on Silicon Labs (SLAB) to $75 from $120 and keeps an Equal Weight rating on the shares. The company’s December guidance disappointed as end market demand remains weak and inventory remains in the channel, the analyst tells investors in a research note. The firm says Silicon Labs’ recovery had another reset and profitability is now in question for 2025.