FBR Capital Markets Lowers Silicon Laboratories PT, Maintains Market Perform

FBR Capital Markets lowered its Silicon Laboratories SLAB price target from $42 to $35 and maintained its Silicon Laboratories Market Perform rating in a research report published today. In the report, FBR Capital Markets states, "We remain believers that SLAB's proprietary product offering and immense engineering talent should translate into substantial revenue and earnings growth in coming years, possibly toward $1B in annual revenues, though timing is everything with SLAB as we await the crossover point between legacy product declines and new product growth." Shares of Silicon Laboratories were trading at $36.38 at the time of posting, down 12.82% from Friday's market close.