Barclays analyst Tom O’Malley raised the firm’s price target on SiTime (SITM) to $400 from $360 and keeps an Equal Weight rating on the shares. The company’s deal for Renesas’s timing division is accretive, the analyst tells investors in a research note.
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- SiTime to Acquire Renesas Timing Business in Major Deal
- SiTime to acquire assets of Renesas timing business for $1.5B, 4.3M shares
- SiTime reports Q4 EPS $1.53, consensus $1.21
- SiTime to acquire Renesas’ timing business in cash and stock deal