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