SiTime price target raised to $200 from $175 at Stifel

Stifel analyst Tore Svanberg raised the firm’s price target on SiTime to $200 from $175 and keeps a Buy rating on the shares. While the inventory correction that has plagued the overall semiconductor industry the last two years is nearing its completion, the firm believes the recovery in key end-markets like Automotive and Industrial is lagging expectations while AI segments are showing resilience and strength, leading to what it views as “a uniquely binary environment” for the Analog, Connectivity and Processors companies the analyst covers.