Needham and Roth Raise Price Targets on SiTime Corporation (SITM)

SiTime Corporation (NASDAQ:SITM) is one of the best under-the-radar stocks to buy according to hedge funds.

On February 5, Needham increased its price target on SiTime Corporation (NASDAQ:SITM) from $400 to $450 and kept its Buy rating on the stock.

The research firm noted that the company delivered another strong quarter, posting a solid beat and raise. SiTime Corporation (NASDAQ:SITM) saw strength across all segments and the overall demand environment remains solid. Needham also noted the book-to-bill ratio was above 1.5 by the end of the quarter.

On February 5, Roth Capital also raised its price target on SiTime Corporation (NASDAQ:SITM) from $350 to $450 and kept a Buy rating on the stock. Roth Capital noted that SiTime Corporation (NASDAQ:SITM) reported significant upside during the quarter, supported by strong growth in the Communications, Enterprise, and Datacenter (CED) segment. The firm also pointed out that the company expects continued strength in the CED segment, which should help offset broader seasonality.

SiTime Corporation (NASDAQ:SITM) is a leading “Precision Timing” company that is known for its semiconductor MEMS programmable solutions. Its products are designed to deliver higher performance, smaller size, lower power, and better reliability.

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