Rosenblatt Securities initiated coverage of SiTime Corporation (NASDAQ: SITM) with a Buy rating and a $750 price target. SiTime’s previous closing price was $495.75. The target implies potential upside of more than 51% from that level.
Analysts have a consensus Moderate Buy rating on SiTime, with an average price target of $721. The company recently reported revenue growth of 126.5% year over year, beating consensus estimates.
Company insiders sold a significant amount of stock in the prior three months. Rosenblatt’s initiation follows positive commentary from The Goldman Sachs Group and UBS Group.