SiTime price target raised to $360 from $250 at Needham

Needham analyst N. Quinn Bolton raised the firm’s price target on SiTime (SITM) to $360 from $250 and keeps a Buy rating on the shares. The company posted another beat and raise, with strength across all segments, and the firm’s key takeaways include CED growth that is expected to continue, driven by multiple factors that include rising revenue from oscillators and clock generators, new design wins, demand for 1.6T optical modules recently doubling, orders accelerating amid shorter lead times, and a rapidly expanding funnel, the analyst tells investors in a research note.