SiTime initiated with a Buy at Loop Capital

Loop Capital analyst Gary Mobley initiated coverage of SiTime (SITM) with a Buy rating and $350 price target The firm says SiTime’s product development in precision timing will become important for a growing list of system manufacturers. Loop views SiTime as a “technology disruptor” in the $10B timing market. The increasing importance system manufacturers will place on precision timing will be driven by market forces and system design challenges, Loop contends.