SiTime Corp. (SITM) PT Raised to $174 at Stifel

August 5, 2021 6:43 AM EDT
Get Alerts SITM Hot Sheet
Price: $228.90 +5.62%

Rating Summary:
    7 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 8 | Down: 13 | New: 22
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Stifel analyst Tore Svanberg raised the price target on SiTime Corp. (NASDAQ: SITM) to $174.00 (from $145.00) while maintaining a Buy rating.

The analyst commented, "Secular transition from legacy quartz-based timing devices accelerating as OEMs increasingly value not only the performance differentiators of SITM’s MEMS-based timing solutions, but also operational ones: programmability, streamlined inventory, shorter lead-times, potential for modest supply upside. Record profitability, w/ 3Q21E non-GAAP (NG) GMs/OMs of ~62%/27%+ at guidance midpoint, on higher rev/mfg. overhead absorption, robust pricing, and mix of newer products."

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