SiTime (NASDAQ:SITM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of SiTime (NASDAQ:SITM) from a hold rating to a buy rating in a research report report published on Saturday morning,Wall Street Zen reports.

Several other brokerages have also recently issued reports on SITM. Benchmark began coverage on SiTime in a report on Wednesday, August 19th. They issued a “buy” rating and a $850.00 target price for the company. Morgan Stanley initiated coverage on SiTime in a research note on Thursday, September 17th. They issued an “overweight” rating and a $370.00 target price for the company. Needham & Company LLC lifted their price target on SiTime from $850.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Seaport Research Partners began coverage on SiTime in a report on Tuesday, September 22nd. They set a “neutral” rating on the stock. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $900.00 price target on shares of SiTime in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, SiTime has an average rating of “Moderate Buy” and an average target price of $717.78.

SiTime Price Performance

SITM stock opened at $495.75 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 19.44 and a quick ratio of 18.50. The business has a 50 day simple moving average of $614.89 and a 200-day simple moving average of $617.37. The firm has a market capitalization of $14.91 billion, a PE ratio of 240.89 and a beta of 2.88. SiTime has a 1 year low of $243.68 and a 1 year high of $901.81.

SiTime (NASDAQ:SITM) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $2.34 EPS for the quarter, beating the consensus estimate of $1.95 by $0.39. SiTime had a return on equity of 4.99% and a net margin of 3.01%. The firm had revenue of $157.43 million during the quarter, compared to analysts’ expectations of $146.46 million. During the same quarter last year, the firm earned $0.47 earnings per share. The business’s revenue for the quarter was up 126.5% on a year-over-year basis. SiTime has set its Q3 2026 guidance at 3.500-3.650 EPS. Equities research analysts anticipate that SiTime will post 6.37 earnings per share for the current fiscal year.

Insider Buying and Selling at SiTime

In other news, Director Torsten Kreindl sold 1,050 shares of SiTime stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $721.67, for a total transaction of $757,753.50. Following the sale, the director owned 12,481 shares of the company’s stock, valued at approximately $9,007,163.27. The trade was a 7.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edward Frank sold 1,000 shares of SiTime stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $745.00, for a total transaction of $745,000.00. Following the sale, the director directly owned 10,999 shares in the company, valued at approximately $8,194,255. The trade was a 8.33% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 15,924 shares of company stock worth $10,056,661. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On SiTime

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC lifted its stake in SiTime by 231.3% during the 2nd quarter. Tidal Investments LLC now owns 7,762 shares of the company’s stock worth $5,787,000 after acquiring an additional 5,419 shares in the last quarter. Tairen Capital Ltd purchased a new position in SiTime during the 2nd quarter valued at about $9,320,000. Stephens Investment Management Group LLC purchased a new position in SiTime during the 1st quarter valued at about $24,135,000. Rockefeller Capital Management L.P. grew its position in SiTime by 1,368.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,259 shares of the company’s stock valued at $1,151,000 after acquiring an additional 3,037 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in SiTime by 13.2% in the 1st quarter. Janus Henderson Group PLC now owns 14,448 shares of the company’s stock valued at $4,994,000 after acquiring an additional 1,688 shares in the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.

About SiTime

SiTime Corporation (NASDAQ: SITM) develops and supplies precision timing solutions for electronic systems. Its products are designed to generate, distribute and maintain accurate timing signals, which help connected devices and infrastructure operate reliably and efficiently.

The company’s portfolio includes silicon MEMS-based resonators and oscillators, clock generators, clock synchronizers, jitter attenuators and other timing components. These products are used in applications such as data centers, telecommunications and networking equipment, automotive systems, industrial machinery, aerospace and defense electronics, and consumer devices.

SiTime’s technology is intended to address demanding requirements for frequency stability, signal integrity, power efficiency and resilience in challenging operating environments.