On August 21, SiTime Corp rose 5.45% in regular trading, trading at $630.0 USD/share, with turnover of $23.24 million. The stock rebounded after two consecutive sessions of decline totaling over 11%.

On the news front, Benchmark initiated coverage of SiTime on August 20, assigning a Buy rating with an $850 price target. According to FactSet, the company currently carries an average analyst rating of overweight with a mean price target of $864.38, implying significant upside from current levels. Earlier in August, UBS also raised its price target from $775 to $840 while maintaining its Buy rating, following the company's strong Q2 results that beat expectations — adjusted EPS of $2.34 versus the $1.95 consensus, and revenue of $157.4 million versus $146.5 million expected. SiTime also completed its acquisition of Renesas Electronics' timing business in July, which is estimated to generate at least $300 million in annual revenue and accelerate the company's path to $1 billion in total revenue.

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