Analysts Continue to Raise SiTime Corporation’s (SITM) Target Price

SiTime Corporation (NASDAQ:SITM) is one of the 10 best NASDAQ growth stocks to buy for the next 10 years. Timothy Arcuri, an analyst at UBS, increased the firm’s price target on SiTime from $375 to $430 while keeping a Buy rating on the stock on January 26. The adjusted price target implies a further 20% upside from the current level.

Earlier, on January 16, Barclays upgraded the stock from Sell to Hold. Barclays analyst Tom O’Malley also raised the firm’s price target on SiTime from $260 to $360. The analyst highlighted in a research note to investors that the company now has improved prospects as growth in AI ventures continues to drive both margin improvement and revenue expansion. He further acknowledged that Barclays had previously underestimated the impact of the company’s portfolio transformation. He observed that the company has effectively evolved into a primarily AI-focused business.

He expressed his thoughts by stating:

This small-cap has real exposure to AI and a better mousetrap in MEMS timing (CED growing 46%/34% Y/Y in CY26/27). The company is attacking a [multi-billion dollar total addressable market] with a better solution and adding to their product offering (clocks, etc.). They are levered to [Credo Technology’s] [active electric cable] and [Nvidia’s] switching, two of our favorite trends.

SiTime Corporation (NASDAQ:SITM) is a developer, seller, and designer of silicon timing systems solutions in the United States, Taiwan, Singapore, Hong Kong, and internationally. It offers various types of oscillators and resonators & clock integrated circuits. The company was founded in 2003 and is based in Santa Clara, California.

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Disclosure: None. This article is originally published at Insider Monkey.