SiTime Corporation’s Promising Growth and Revenue Prospects Drive Buy Rating

Needham analyst Quinn Bolton reiterated a Buy rating on SiTime Corporation (SITM – Research Report) today and set a price target of $250.00.

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, notably with its Consumer Electronics Division (CED) and initial shipments for the iPhone 16e, which have led to a positive financial outlook.
Furthermore, Bolton anticipates substantial revenue from Apple’s modem over the next few years, which is expected to boost gross profit despite a potential impact on long-term gross margins due to a higher consumer mix. Additionally, the growing demand for AI infrastructure necessitates increased network bandwidth and precise timing, which benefits SiTime’s CED. The company’s management has also provided optimistic projections for its clock portfolio, expecting to surpass its $100 million revenue target, further supporting the Buy rating.

In another report released yesterday, Roth MKM also maintained a Buy rating on the stock with a $230.00 price target.