topstockalerts
Nov 7, 1:05 AM
Rosenblatt named SiTime its top semiconductor pick, maintaining a Buy rating and a
$900 price target versus its latest share price of approximately
$416. The firm significantly raised its earnings forecasts following stronger-than-expected gross margins, despite quarterly revenue coming in slightly below its estimates but above Wall Street consensus.
Rosenblatt raised its FY2027 and FY2028 non-GAAP EPS estimates by 27% and 26%, respectively, to
$19.03 and
$24.01. The
$900 target is based on 37x FY2028 estimated EPS. SiTime has delivered more than 100% year-over-year revenue growth for six consecutive quarters, with September-quarter organic revenue and non-GAAP EPS rising 154% and 360%, respectively.
Its proprietary MEMS technology, deeply embedded customer relationships and single-source designs support premium pricing and gross margins of approximately 70%.
$SITM
