Quinn Bolton, an analyst from Needham, reiterated the Buy rating on SiTime Corporation. The associated price target remains the same with $250.00.
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Quinn Bolton has given his Buy rating due to a combination of factors that highlight SiTime Corporation’s promising growth prospects. The company has demonstrated strong performance, particularly in its Communications and Enterprise Data (CED) segment, which is benefiting from increased demand driven by advancements in artificial intelligence. This growth is further supported by the company’s expanding presence among hyperscale customers, although the extent of market penetration varies.
Additionally, SiTime Corporation is projected to achieve a minimum of 40% year-over-year revenue growth in the calendar year 2025, bolstered by not only AI but also expansion across other market sectors. The company is also experiencing short-term growth in Aerospace, Defense, and Industrial sectors, despite some anticipated softness in the automotive market later in the year. These factors contribute to the reaffirmation of the Buy rating and a maintained price target of $250, based on a discounted cash flow valuation.
According to TipRanks, Bolton is a 5-star analyst with an average return of 24.0% and a 53.52% success rate. Bolton covers the Technology sector, focusing on stocks such as IonQ, Nvidia, and Marvell.
In another report released yesterday, Roth MKM also maintained a Buy rating on the stock with a $230.00 price target.