SiTime price target raised to $270 from $250 at Raymond James

Raymond James raised the firm’s price target on SiTime (SITM) to $270 from $250 and keeps an Outperform rating on the shares. After having had the opportunity to host CFO Beth Howe for meetings last week, the firm came away with “increasing confidence” in the company’s progress toward expanding the addressable market for precision timing solutions, the analyst tells investors. The market for “mission critical” applications within the datacenter and ADAS systems is growing rapidly and the firm views SiTime as “uniquely able” to address higher-performance data rates and increasingly challenging environments, the analyst added.