SiTime initiated with a Buy at UBS

UBS initiated coverage of SiTime (SITM) with a Buy rating and $260 price target The firm expects SiTime will be one of the fastest growing semiconductor companies over the next few years, led by artificial intelligence and its new silicon based solutions. SiTime’s position at Apple (AAPL) is growing and it has “very high” leverage to AI, which could be represent 35% of revenue by 2027, the analyst tells investors in a research note. UBS believes SiTime’s 40% revenue growth will continue through 2026 and likely beyond. Street estimates remain “considerably too low” given the company’s “myriad” growth drivers, contends UBS.