SiTime price target raised to $320 from $240 at Stifel

Stifel analyst Tore Svanberg raised the firm’s price target on SiTime (SITM) to $320 from $240 and keeps a Buy rating on the shares. The launch of its Titan Platform not only marks the company’s strategic entry into the $4B resonator market, it also establishes SiTime as “the industry’s sole provider of the full suite of precision timing solutions,” the analyst tells investors. The firm believes this new resonator platform not only extends the company’s technology leadership, but also further disrupts the legacy $10B-plus quartz-based timing market, the analyst added.