RBC Capital Initiates Silicon Laboratories (SLAB), Waits for New Wi-Fi Tech to Gain Traction

Silicon Laboratories Inc. (NASDAQ:SLAB) is one of the best mid-cap growth stocks to buy right now. On January 15, RBC Capital initiated coverage of Silicon Labs with a Sector Perform rating and $160 price target. The company is starting to see the benefits of a healthier market as old stock finally clears out of the supply chain. Despite this positive trend, the firm isn’t ready to recommend buying the stock yet and wants to wait and see if the company’s new Wi-Fi tech actually takes off first.

Earlier on December 18, MOKOSMART and Silicon Laboratories Inc. (NASDAQ:SLAB) announced a partnership to address critical visibility gaps in the global cold chain. This collaboration focuses on the launch of two high-precision Bluetooth beacons: the M4 Pro and the S05T temperature loggers. The initiative comes as the global cold chain market is projected to grow from $228.30 billion in 2024 to $372 billion by 2029, sustaining a CAGR of 10.30%.

The partnership uses a synergy between MOKOSMART’s rugged hardware design and Silicon Labs’ wireless precision. Both sensors are powered by the BG22 System-on-Chip, which uses a high-performance ARM Cortex-M33 core. This allows for a compact form factor while delivering industry-leading energy efficiency. For example, the S05T is a disposable, soft-foam logger featuring a 220mAh non-replaceable battery with a lifespan of up to 2 years under default settings, while the M4 Pro provides a replaceable battery option that can last up to 4 years in presence monitoring mode.

Silicon Laboratories Inc. (NASDAQ:SLAB) is a fabless semiconductor company that provides analog-intensive mixed-signal solutions in the US, China, Taiwan, and internationally.

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Disclosure: None. This article is originally published at Insider Monkey.