SiTime (NASDAQ:SITM) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded SiTime from “hold” to “strong buy,” while the broader analyst consensus remains “moderate buy” with an average price target of $688.75.
• SiTime exceeded quarterly expectations, reporting $2.34 EPS versus a $1.95 estimate and $157.43 million in revenue, up 126.5% year over year.
• The stock opened at $711.91, up 3.5%, but insiders have sold approximately $50 million of shares over the past 90 days; institutional investors own 84.31% of the company.

SiTime (NASDAQ:SITM - Get Free Report) was upgraded by investment analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Thursday,Zacks.com reports.

A number of other research firms have also weighed in on SITM. Stifel Nicolaus upped their price target 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 restated a "buy" rating and set a $900.00 price objective on shares of SiTime in a research report on Thursday, August 6th. Roth Capital restated a "buy" rating and set a $900.00 target price on shares of SiTime in a research note on Thursday, May 7th. UBS Group upped 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. Finally, Needham & Company LLC upped their target price on shares of SiTime from $850.00 to $900.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $688.75.

SiTime Stock Up 3.5%

SITM stock opened at $711.91 on Thursday. SiTime has a twelve month low of $204.60 and a twelve month high of $901.81. 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 stock has a market cap of $21.41 billion, a P/E ratio of 1,452.88 and a beta of 2.94. The business's 50-day moving average price is $637.05 and its 200-day moving average price is $540.22.

SiTime (NASDAQ:SITM - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.39. The company had revenue of $157.43 million during the quarter, compared to analyst estimates of $146.46 million. SiTime had a net margin of 3.01% and a return on equity of 4.99%. The firm's quarterly revenue was up 126.5% compared to the same quarter last year. During the same period in the prior 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 forecast that SiTime will post 6.33 EPS for the current year.

Insider Activity

In related news, Director Torsten Kreindl sold 1,050 shares of the firm's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $721.67, for a total value of $757,753.50. Following the completion of the transaction, the director directly owned 12,481 shares of the company's stock, valued at approximately $9,007,163.27. This trade represents a 7.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Raman Chitkara sold 2,000 shares of the business's stock in a transaction 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 owned 19,898 shares in the company, valued at $14,473,407.24. This represents a 9.13% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 69,759 shares of company stock worth $50,046,035. 1.40% of the stock is owned by corporate insiders.

Institutional Trading of SiTime

Hedge funds have recently made changes to their positions in the business. Jupiter Topco LLC bought a new position in shares of SiTime in the 2nd quarter valued at about $7,326,000. Hsbc Holdings PLC bought a new stake in SiTime during the second quarter worth approximately $13,680,000. Canada Pension Plan Investment Board purchased a new stake in SiTime during the second quarter valued at approximately $22,590,000. Castleark Management LLC purchased a new stake in SiTime during the second quarter valued at approximately $1,291,000. Finally, Osterweis Capital Management Inc. purchased a new stake in SiTime during the second quarter valued at approximately $12,428,000. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

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.

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