Renesas' TPD Business Could Unlock Significant Earnings Growth For SiTime

What happened: A Seeking Alpha analyst initiated coverage of SiTime Corporation ($SITM) with a Strong Buy rating and an $850 price target, citing the potential of Renesas' TPD business to unlock significant earnings growth. Key numbers: $850 price target, 49% upside from a $570 price at the time of writing. Why it matters: The analyst sees the Renesas TPD business as a driver of earnings growth for $SITM. The disclosure notes no current position but possible initiation of a long position within 72 hours.

A Seeking Alpha analyst initiated coverage of SiTime Corporation ($SITM) with a Strong Buy rating and an $850 price target, citing the potential of Renesas' TPD business to unlock significant earnings growth.

The analyst sees the Renesas TPD business as a driver of earnings growth for $SITM. The disclosure notes no current position but possible initiation of a long position within 72 hours.