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Silicon Laboratories makes specialized computer chips for smart devices like thermostats, lights, and industrial equipment. Companies use these chips to make their products connect to the internet wirelessly while using less battery power. The company makes money by selling these chips to manufacturers who build them into their devices.
The semiconductor industry is experiencing strong demand from Internet of Things applications like smart home devices and industrial automation. Silicon Labs holds a strong position in low-power wireless chips, competing with larger players like Texas Instruments and NXP.
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ANALYSIS:Price energy is building quickly for a potential move. Bullish alignment confirmed.
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Price is extended significantly above 52-week highs.
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