SiTime (NASDAQ:SITM) Rating Lowered to Hold at Wall Street Zen
by Tristan Rich · The Markets DailySiTime (NASDAQ:SITM – Get Free Report) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.
SITM has been the topic of a number of other research reports. UBS Group upped their price objective on SiTime from $430.00 to $485.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiTime in a report on Thursday, January 22nd. The Goldman Sachs Group assumed coverage on SiTime in a report on Monday, December 15th. They set a “buy” rating and a $420.00 price objective on the stock. Roth Mkm reaffirmed a “buy” rating and set a $450.00 price objective on shares of SiTime in a report on Thursday, February 5th. Finally, Needham & Company LLC upped their price objective on SiTime from $400.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $409.38.
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SiTime Price Performance
SiTime stock opened at $420.32 on Friday. SiTime has a 12 month low of $123.59 and a 12 month high of $446.95. The business has a 50 day simple moving average of $375.90 and a 200-day simple moving average of $341.36. The stock has a market capitalization of $11.05 billion, a PE ratio of -230.95 and a beta of 2.57.
SiTime (NASDAQ:SITM – Get Free Report) last released its quarterly earnings results on Wednesday, February 4th. The company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.20 by $0.33. SiTime had a negative return on equity of 2.06% and a negative net margin of 13.13%.The business had revenue of $113.29 million during the quarter, compared to analysts’ expectations of $101.91 million. During the same quarter in the prior year, the business earned $0.48 earnings per share. The company’s quarterly revenue was up 66.3% compared to the same quarter last year. As a group, equities research analysts anticipate that SiTime will post -2.44 EPS for the current year.
Insider Buying and Selling
In other SiTime news, insider Piyush B. Sevalia sold 1,249 shares of the company’s stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of $375.00, for a total value of $468,375.00. Following the sale, the insider owned 87,916 shares of the company’s stock, valued at approximately $32,968,500. This represents a 1.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Raman Chitkara sold 501 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $425.03, for a total value of $212,940.03. Following the completion of the sale, the director directly owned 21,508 shares in the company, valued at $9,141,545.24. This trade represents a 2.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 22,512 shares of company stock valued at $9,581,432 in the last three months. 2.30% of the stock is owned by insiders.
Institutional Trading of SiTime
Several large investors have recently bought and sold shares of SITM. Rakuten Securities Inc. grew its holdings in SiTime by 188.5% in the fourth quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock valued at $26,000 after purchasing an additional 49 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in SiTime by 190.3% in the third quarter. Hantz Financial Services Inc. now owns 90 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the last quarter. Optiver Holding B.V. grew its holdings in SiTime by 56.1% in the third quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock valued at $27,000 after purchasing an additional 32 shares during the last quarter. Larson Financial Group LLC grew its holdings in SiTime by 3,200.0% in the third quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock valued at $30,000 after purchasing an additional 96 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in SiTime in the fourth quarter valued at $33,000. Institutional investors and hedge funds own 84.31% of the company’s stock.
SiTime Company Profile
SiTime Corporation is a fabless semiconductor company specializing in silicon timing solutions that leverage micro-electromechanical systems (MEMS) technology as an alternative to traditional quartz crystals. Its portfolio of programmable oscillators, resonators, clock generators, jitter attenuators and network synchronizers addresses precision timekeeping requirements across a wide range of electronic systems. By integrating MEMS resonators with advanced mixed-signal control circuitry, SiTime’s products offer enhanced reliability, resistance to shock and vibration, and a smaller footprint compared with conventional quartz devices.
The company’s timing devices serve diverse end markets, including telecommunications infrastructure, data center and enterprise networking, consumer electronics, automotive systems, industrial automation, and aerospace and defense applications.