Stock market today: S&P 500 extends monthly win streak despite Nvidia-led stumble
Investing.com - Raymond James raised its price target on SiTime Corp. (NASDAQ:SITM) to $270.00 from $250.00 on Friday, while maintaining an Outperform rating on the precision timing solutions company. The new target represents potential upside from the current price of $242.97, with the stock trading near its 52-week high of $268.18. According to InvestingPro data, analysts maintain a bullish consensus on SITM.
The firm expressed increased confidence in SiTime’s progress toward expanding its addressable market following recent meetings with management, including CFO Beth Howe.
Raymond James highlighted SiTime’s unique ability to address higher-performance data rates and challenging environments in mission-critical applications, particularly within datacenter and ADAS (Advanced Driver-Assistance Systems) markets that are growing rapidly.
While Raymond James noted SiTime’s design win related to an internally-designed modem at its largest customer (Apple), the firm is modeling that opportunity conservatively due to uncertainty regarding launch and attach rates.
The firm instead focused on SiTime’s diversification efforts across datacenter, aerospace and defense, and industrial markets, acknowledging the new price target assumes an aggressive valuation justified by SiTime’s "unique positioning as a fabless, high-growth company with favorable margin profile."
In other recent news, CyTime Corporation reported robust financial results for Q2 2025, with earnings per share reaching $0.47, significantly surpassing the forecasted $0.21. The company’s revenue also exceeded expectations, totaling $69.5 million compared to the anticipated $57.79 million. These results mark a substantial earnings surprise and demonstrate strong performance in the market. Meanwhile, SiTime Corp. has been the focus of analyst attention, with Stifel reiterating a Buy rating and a price target of $240.00, emphasizing the company’s unique position in the semiconductor industry. Stifel highlighted SiTime’s programmability advantages, which lead to 80% of its customers being single-sourced. UBS also initiated coverage of SiTime with a Buy rating, setting a price target of $260.00. UBS noted SiTime’s potential as a disruptive force in the timing market, driven by artificial intelligence applications. These developments underscore the positive outlook from analysts for SiTime’s growth trajectory.
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