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

Key Points

• Wall Street Zen downgraded SiTime from “Buy” to “Hold,” although the broader analyst consensus remains “Buy,” with an average price target of $717.78.
• SiTime reported strong quarterly results, including EPS of $2.34 versus estimates of $1.95 and revenue of $157.43 million, up 126.5% year over year.
• The stock opened at $662.27, while insiders sold 14,550 shares worth approximately $9.1 million over the past 90 days; institutional investors own 84.31% of the company.

SiTime (NASDAQ:SITM - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other analysts have also weighed in on the company. Morgan Stanley assumed coverage on SiTime in a research note on Thursday, September 17th. They issued an "overweight" rating and a $370.00 price objective on the stock. Needham & Company LLC boosted their target price on SiTime from $850.00 to $900.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. UBS Group increased their target price on shares of SiTime from $775.00 to $840.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. The Goldman Sachs Group restated a "buy" rating and issued a $900.00 price target on shares of SiTime in a research note on Thursday, August 6th. Finally, Zacks Research raised shares of SiTime from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $717.78.

SiTime Stock Up 3.0%

Shares of SITM opened at $662.27 on Friday. The firm has a 50 day simple moving average of $601.87 and a two-hundred day simple moving average of $584.82. The company has a debt-to-equity ratio of 1.29, a current ratio of 19.44 and a quick ratio of 18.50. SiTime has a one year low of $243.68 and a one year high of $901.81. The company has a market cap of $19.91 billion, a P/E ratio of 1,351.57 and a beta of 2.86.

SiTime (NASDAQ:SITM - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $2.34 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $146.46 million. During the same quarter last year, the business posted $0.47 EPS. The company's revenue was up 126.5% compared to the same quarter last year. SiTime has set its Q3 2026 guidance at 3.500-3.650 EPS. Research analysts forecast that SiTime will post 6.37 EPS for the current fiscal year.

Insider Transactions at SiTime

In other news, Director Katherine Schuelke sold 500 shares of SiTime stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $698.05, for a total transaction of $349,025.00. Following the sale, the director directly owned 12,010 shares of the company's stock, valued at approximately $8,383,580.50. This trade represents a 4.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Rajesh Vashist sold 12,000 shares of the business's stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $603.47, for a total value of $7,241,640.00. Following the sale, the chief executive officer owned 345,544 shares in the company, valued at approximately $208,525,437.68. This trade represents a 3.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 14,550 shares of company stock worth $9,093,418 in the last 90 days. 1.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SiTime

Several hedge funds have recently added to or reduced their stakes in SITM. Parallel Advisors LLC boosted its holdings in shares of SiTime by 26.2% during the 1st quarter. Parallel Advisors LLC now owns 77 shares of the company's stock worth $27,000 after buying an additional 16 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in shares of SiTime by 0.3% in the 4th quarter. Los Angeles Capital Management LLC now owns 9,023 shares of the company's stock valued at $3,187,000 after acquiring an additional 25 shares in the last quarter. Wedmont Private Capital lifted its position in shares of SiTime by 4.5% during the 2nd quarter. Wedmont Private Capital now owns 650 shares of the company's stock valued at $485,000 after acquiring an additional 28 shares during the period. Allworth Financial LP lifted its position in shares of SiTime by 50.0% during the 2nd quarter. Allworth Financial LP now owns 90 shares of the company's stock valued at $67,000 after acquiring an additional 30 shares during the period. Finally, Saturna Capital Corp boosted its stake in SiTime by 5.2% during the fourth quarter. Saturna Capital Corp now owns 1,010 shares of the company's stock worth $357,000 after acquiring an additional 50 shares in the last quarter. 84.31% of the stock is currently owned by institutional investors and hedge funds.

About SiTime

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.

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