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Fly News Breaks for July 26, 2018
SLAB
Jul 26, 2018 | 06:55 EDT
Loop Capital analyst Cody Acree lowered his price target on Silicon Labs to $110 after its Q2 earnings and Q3 outlook, saying that while results exceeded expectations in nearly all metrics, the stock sold off about 6%. The analyst attributes the decline to profit taking, with investors having anticipated slightly higher seasonal trends. Acree also speculates that Silicon Labs' organic Internet of Things business growth is heading for a slowdown, keeping his Hold rating on the shares while also lowering his FY19 EPS view to $4.00 from $4.19.
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