SiTime price target lowered to $230 from $265 at Roth Capital

Roth Capital lowered the firm’s price target on SiTime (SITM) to $230 from $265 and keeps a Buy rating on the shares. The company reported upside in the quarter and guided for continued growth above consensus expectations, the analyst tells investors in a research note. Roth adds it is encouraged by the strong secular growth in the data center segment and believe positive y/y growth in all segments reflects SiTime’s continued share gain success in the precision timing market, though it also cites broader market valuations in cutting its price target