SiTime price target raised to $350 from $230 at Roth Capital

Roth Capital analyst Suji Desilva raised the firm’s price target on SiTime (SITM) to $350 from $230 and keeps a Buy rating on the shares. The company reported upside in the quarter and guided for continued strong sequential growth broadly across key segments, and the firm is encouraged that SiTime is benefiting from multiple end market secular demand drivers for precision timing, enabling greater diversification from core CED growth in AI infrastructure/optical, the analyst tells investors in a research note.