SiTime (NASDAQ:SITM) Upgraded at Benchmark

Key Points

• Benchmark upgraded SiTime to “strong buy,” adding to generally positive analyst sentiment. The stock has an average “buy” rating and a consensus price target of $706.67, with several firms setting targets between $840 and $900.
• SiTime reported quarterly EPS of $2.34, beating estimates of $1.95, while revenue reached $157.43 million and rose 126.5% year over year. Shares opened at $598.81 and were down 3.2% in trading.
• Institutional ownership remains high at 84.31%, including a major new position by BlackRock valued at approximately $1.78 billion. However, company insiders sold $49.0 million in shares over the past three months.

SiTime (NASDAQ:SITM - Get Free Report) was upgraded by analysts at Benchmark to a "strong-buy" rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other research firms have also weighed in on SITM. UBS Group lifted their price objective on shares of SiTime from $775.00 to $840.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Roth Capital reaffirmed a "buy" rating and issued a $900.00 target price on shares of SiTime in a research note on Thursday, May 7th. Wall Street Zen upgraded shares of SiTime from a "hold" rating to a "buy" rating in a report on Sunday, July 12th. Weiss Ratings reissued a "sell (d-)" rating on shares of SiTime in a research report on Friday, July 17th. Finally, Needham & Company LLC boosted their price target on shares of SiTime from $850.00 to $900.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, SiTime currently has an average rating of "Buy" and a consensus price target of $706.67.

SiTime Trading Down 3.2%

NASDAQ SITM opened at $598.81 on Wednesday. SiTime has a 12 month low of $217.64 and a 12 month high of $901.81. The stock has a 50-day simple moving average of $635.80 and a 200 day simple moving average of $550.04. The company has a current ratio of 19.44, a quick ratio of 18.50 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $18.01 billion, a PE ratio of 1,222.06 and a beta of 2.94.

SiTime (NASDAQ:SITM - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $2.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business earned $0.47 earnings per share. SiTime has set its Q3 2026 guidance at 3.500-3.650 EPS. Research analysts forecast that SiTime will post 6.33 EPS for the current year.

Insiders Place Their Bets

In related news, Director Raman Chitkara sold 2,000 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $727.38, for a total transaction of $1,454,760.00. Following the completion of the sale, the director directly owned 19,898 shares of the company's stock, valued at approximately $14,473,407.24. This represents a 9.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Torsten Kreindl sold 1,050 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The stock was 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 in the company, valued at $9,007,163.27. This trade represents a 7.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 68,340 shares of company stock worth $49,029,718 in the last three months. 1.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SiTime

A number of hedge funds and other institutional investors have recently made changes to their positions in SITM. BlackRock Inc. acquired a new position in SiTime in the 2nd quarter worth $1,781,937,000. Norges Bank acquired a new stake in shares of SiTime in the 4th quarter valued at about $83,977,000. Whale Rock Capital Management LLC raised its stake in shares of SiTime by 45.4% in the 4th quarter. Whale Rock Capital Management LLC now owns 698,539 shares of the company's stock valued at $246,717,000 after purchasing an additional 218,038 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of SiTime by 61.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 562,892 shares of the company's stock valued at $198,808,000 after purchasing an additional 213,242 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in shares of SiTime in the fourth quarter valued at about $59,452,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.

About SiTime

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.

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