SiTime price target raised to $250 from $215 at Raymond James

Raymond James raised the firm’s price target on SiTime (SITM) to $250 from $215 and keeps an Outperform rating on the shares. The company is back on a solid beat-and-raise cadence, driven by new design wins in high growth markets like datacenter, the analyst tells investors in a research note. SiTime’s results continue to show the significant operating leverage in the model, the firm says, adding that it expects SiTime to continue to deliver strong annual growth, with corresponding returns and earnings growth.