Benchmark initiates SiTime at 'buy,' calling it a timing market disruptor; shares rise
20/08/2026 14:48
BUZZ-Benchmark initiates SiTime at 'buy,' calling it a timing market disruptor; shares rise ** Shares of precision timing chipmaker SiTime SITM.O rise 1.3% to $626.76
** Brokerage Benchmark initiates SITM at "buy", with target price of $850, as it views it as tech disruptor in the timing market, challenging the decades-old quartz technology
** Says the acquisition of Renesas Timing business could become the perfect complement for co's products
** Believes precision timing is foundational to AI compute and network infrastructure as it could represent about 70% of FY26 projected sales on Communications, Enterprise and Datacentre
** Ten brokerages covering the stock rate it "buy" or higher; median PT is $850 - data compiled by LSEG
** Including session moves, stock has risen 75.5% YTD
(Reporting by Anand Gopal in Bengaluru)
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