SiTime price target raised to $135 from $110 at Barclays

Barclays analyst Tom O’Malley raised the firm’s price target on SiTime (SITM) to $135 from $110 and keeps an Underweight rating on the shares. The company raised its content and revenue outlook due to the higher expected internal modem mix at 30%, but the resulting mix headwind combined with a slower margin recovery leaves Barclays modestly lowering earnings estimates, the analyst tells investors in a research note. The firm points out SiTime is again pushing out its 60% margin target towards 2026.