SiTime (NASDAQ:SITM) Cut to “Hold” at Wall Street Zen

by · The Markets Daily

Wall Street Zen downgraded shares of SiTime (NASDAQ:SITM – Free Report) from a buy rating to a hold rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

Several other brokerages also recently weighed in on SITM. Zacks Research upgraded SiTime from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 13th. Morgan Stanley started coverage on SiTime in a research note on Thursday, September 17th. They set an “overweight” rating and a $370.00 price target for the company. UBS Group increased their price target on SiTime from $775.00 to $840.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Seaport Research Partners started coverage on shares of SiTime in a research report on Tuesday, September 22nd. They issued a “neutral” rating on the stock. Finally, Needham & Company LLC boosted their price objective on shares of SiTime from $850.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, SiTime presently has an average rating of “Buy” and a consensus target price of $717.78.

Check Out Our Latest Report on SITM

SiTime Price Performance

Shares of SITM opened at $656.65 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 18.50 and a current ratio of 19.44. SiTime has a fifty-two week low of $243.68 and a fifty-two week high of $901.81. The firm has a 50-day simple moving average of $603.90 and a 200-day simple moving average of $588.55. The company has a market capitalization of $19.75 billion, a price-to-earnings ratio of 1,340.10 and a beta of 2.86.

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

Insider Activity at SiTime

In other news, Director Edward Frank sold 1,000 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $745.00, for a total value of $745,000.00. Following the completion of the transaction, the director owned 10,999 shares in the company, valued at $8,194,255. This trade represents a 8.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Torsten Kreindl sold 1,050 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $721.67, for a total transaction of $757,753.50. Following the completion of the sale, the director owned 12,481 shares of the company’s stock, valued at $9,007,163.27. This trade represents a 7.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 14,550 shares of company stock worth $9,093,418. 1.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On SiTime

Several institutional investors have recently modified their holdings of SITM. BlackRock Inc. acquired a new stake in SiTime in the second quarter valued at $1,781,937,000. Geode Capital Management LLC raised its stake in shares of SiTime by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 539,425 shares of the company’s stock worth $190,550,000 after buying an additional 15,850 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of SiTime by 5.4% during the 1st quarter. Bank of New York Mellon Corp now owns 372,943 shares of the company’s stock worth $128,796,000 after buying an additional 18,983 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of SiTime by 13.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 249,714 shares of the company’s stock worth $88,196,000 after buying an additional 30,464 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of SiTime in the 4th quarter worth about $83,977,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.

About SiTime

(Get Free Report)

SiTime Corporation (NASDAQ: SITM) is a semiconductor company that develops precision timing solutions based on microelectromechanical systems (MEMS) technology. Its products are designed to generate, distribute and synchronize the timing signals used by electronic systems and are intended to provide alternatives to traditional quartz-based timing components.

The company’s portfolio includes MEMS oscillators, clock generators, clock buffers, resonators and related timing devices. These products are used in applications such as data centers, wired and wireless communications infrastructure, automotive systems, industrial equipment, consumer electronics, aerospace and defense systems, and other high-performance electronic devices.

SiTime was founded in 2004 and is headquartered in Santa Clara, California.

See Also