SiTime (NASDAQ:SITM) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of SiTime (NASDAQ:SITMFree Report) from a hold rating to a strong-buy rating in a research report released on Thursday,Zacks.com reports.

Several other research firms have also recently weighed in on SITM. Stifel Nicolaus upped their price objective on shares of SiTime from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. The Goldman Sachs Group reissued a “buy” rating and issued a $900.00 price target on shares of SiTime in a research note on Thursday, August 6th. Roth Capital reissued a “buy” rating and issued a $900.00 price target on shares of SiTime in a report on Thursday, May 7th. Wall Street Zen upgraded shares of SiTime from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiTime in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, SiTime has a consensus rating of “Moderate Buy” and a consensus target price of $688.75.

Check Out Our Latest Stock Report on SITM

SiTime Price Performance

SiTime stock opened at $711.91 on Thursday. The stock has a market cap of $21.41 billion, a price-to-earnings ratio of 1,452.88 and a beta of 2.94. The company has a quick ratio of 18.50, a current ratio of 19.44 and a debt-to-equity ratio of 1.29. The business has a 50-day simple moving average of $637.05 and a 200 day simple moving average of $540.22. SiTime has a 52 week low of $204.60 and a 52 week high of $901.81.

SiTime (NASDAQ:SITMGet Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $2.34 earnings per share 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 company’s revenue was up 126.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.47 EPS. SiTime has set its Q3 2026 guidance at 3.500-3.650 EPS. On average, research analysts forecast that SiTime will post 6.33 earnings per share for the current fiscal year.

Insider Activity at SiTime

In other SiTime news, Director Raman Chitkara sold 2,000 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $727.38, for a total transaction of $1,454,760.00. Following the transaction, the director directly owned 19,898 shares in the company, valued at $14,473,407.24. This trade represents a 9.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christine Heckart sold 1,290 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $700.00, for a total transaction of $903,000.00. Following the completion of the sale, the director owned 790 shares of the company’s stock, valued at approximately $553,000. The trade was a 62.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 69,759 shares of company stock worth $50,046,035 in the last quarter. 1.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On SiTime

Large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its stake in SiTime by 12.5% in the first quarter. Royal Bank of Canada now owns 4,411 shares of the company’s stock worth $675,000 after purchasing an additional 491 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of SiTime by 33.6% in the first quarter. Advisors Asset Management Inc. now owns 350 shares of the company’s stock worth $54,000 after buying an additional 88 shares during the period. AQR Capital Management LLC increased its holdings in shares of SiTime by 310.8% in the first quarter. AQR Capital Management LLC now owns 10,754 shares of the company’s stock worth $1,557,000 after buying an additional 8,136 shares during the period. Intech Investment Management LLC lifted its stake in shares of SiTime by 21.6% in the 1st quarter. Intech Investment Management LLC now owns 8,322 shares of the company’s stock valued at $1,272,000 after acquiring an additional 1,477 shares during the last quarter. Finally, M&T Bank Corp bought a new stake in shares of SiTime in the 2nd quarter valued at about $240,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.

SiTime Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for SiTime (NASDAQ:SITM)

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