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Fly News Breaks for October 24, 2018
SLAB
Oct 24, 2018 | 14:19 EDT
Needham analyst Rajvindra Gill lowered his price target for Silicon Labs to $100 from $115, while reiterating a Buy rating, after the company posted a "solid" quarter and guide in light of the macroeconomic slowdown, specifically in China. The analyst recommends investors find "safe haven" in secular stories such as IoT, EV, wireless infrastructure and machine learning. Gill expects 20% growth in IoT as U.K. smart metering will re-accelerate shipments in Q1 2019 and smart lighting will rebound.
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