Silicon Labs upgraded to Buy from Hold at Benchmark

Benchmark last night upgraded Silicon Labs (SLAB) to Buy from Hold with a $160 price target With Silicon Labs finally having worked through the bulk of excess industry and customer inventory levels, the company posted an in-line December quarter performance, with flat sales sequentially that matched its original Q4 guidance, the analyst tells investors in a research note. The firm believes the company has managed well through a difficult industry correction and appears to finally be coming out the other side of the macro pressure.” Silicon Labs’ fundamentals are “turning a corner” and its estimates should have a positive bias through the breadth of the next industry up-cycle, which should last through fiscal 2026, contends Benchmark.