SiTime Corp. (SITM) PT Raised to $250 at Needham

Needham analyst Quinn Bolton raised the price target on SiTime Corp. (NASDAQ: SITM) to $250.00 (from $225.00) while maintaining a Buy rating.

The analyst commented: "SiTime posted another beat and raise, led by CED. Our key takeaways: 1) Bookings for 2025 are strong, and management reiterated its target for +25-30% Y/Y revenue growth in 2025. Design win activity also remains healthy across all key products; 2) While all segments should grow in 2025, CED should grow the most (we model it growing +39% for the year). Growth in CED should continue to be driven by data center strength, as the company sells into all key applications within the AI ecosystem; 3) 1Q25 GM was guided to decline 180bps to 57%. This is primarily due to lower revenue (absorption), increased depreciation from higher CapEx spend over the last two quarters, and lower yields on new product ramps.

We reiterate our Buy rating and raise our PT to $250, based on our DCF valuation."

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• Boeing lands two U.S. defense contracts worth over $711M
• Phillips 66, Marathon Merger Talks Collapsed - Semafor