FBR Capital Markets Raises SLAB Target To $42 From $35

FBR Capital Markets is raising its target on Silicon Laboratories, Inc. (NASDAQ: SLAB) to $42 from $35.

“While we did not meet with Silicon Laboratories, Inc. (NASDAQ: SLAB) at CES this year, we note that the firm's acquisition appeal is increasing following Qualcomm's announced acquisition of Atheros,” FBR Capital Markets writes.

“While we did recently downgrade the stock on disappointing 4Q financial guidance and stretched valuation metrics as we switched into equally well performing shares of MXIM, we do note that Silicon Labs has fantastic mixed-signal technologies, ramping product cycles in LCD TV tuners and front-end receivers, microcontrollers, clock & timing products, short range wireless, infrared sensors, and robust management execution.”

Silicon Laboratories closed Friday at $48.92.