SiTime (NASDAQ:SITM) Shares Up 9.3% – What’s Next?

SiTime Corporation (NASDAQ:SITM) shot up 9.3% during mid-day trading on Thursday . The company traded as high as $607.97 and last traded at $599.7060. 78,820 shares were traded during trading, a decline of 83% from the average session volume of 469,134 shares. The stock had previously closed at $548.90.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Benchmark initiated coverage on SiTime in a research report on Wednesday, August 19th. They set a “buy” rating and a $850.00 price target on the stock. Wall Street Zen raised SiTime from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Weiss Ratings raised SiTime from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, September 8th. Morgan Stanley initiated coverage on shares of SiTime in a research report on Thursday. They issued an “overweight” rating and a $370.00 price target on the stock. Finally, Needham & Company LLC upped 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 investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $717.78.

SiTime Stock Performance

The stock has a market cap of $18.47 billion, a price-to-earnings ratio of 1,253.61 and a beta of 2.86. The company’s 50-day simple moving average is $597.31 and its 200-day simple moving average is $575.92. The company has a quick ratio of 18.50, a current ratio of 19.44 and a debt-to-equity ratio of 1.29.

SiTime (NASDAQ:SITM) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $2.34 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.39. The company had revenue of $157.43 million during the quarter, compared to the consensus estimate of $146.46 million. SiTime had a return on equity of 4.99% and a net margin of 3.01%.The company’s quarterly revenue was up 126.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.47 EPS. SiTime has set its Q3 2026 guidance at 3.500-3.650 EPS. Analysts predict that SiTime Corporation will post 6.33 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Rajesh Vashist sold 12,000 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer owned 345,544 shares in the company, valued at $208,525,437.68. This trade represents a 3.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Edward Frank sold 1,000 shares of the stock in a transaction on 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 of the company’s stock, valued at $8,194,255. This trade represents a 8.33% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 14,550 shares of company stock valued at $9,093,418. 1.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Global Retirement Partners LLC purchased a new stake in shares of SiTime in the 2nd quarter valued at approximately $48,000. Parallel Advisors LLC grew its position in SiTime by 26.2% during the 1st quarter. Parallel Advisors LLC now owns 77 shares of the company’s stock worth $27,000 after purchasing an additional 16 shares in the last quarter. Persistent Asset Partners Ltd purchased a new position in SiTime during the 2nd quarter worth approximately $57,000. Quantbot Technologies LP acquired a new stake in SiTime during the 2nd quarter valued at $63,000. Finally, Allworth Financial LP acquired a new stake in SiTime during the 2nd quarter valued at $67,000. 84.31% of the stock is owned by hedge funds and other institutional investors.

SiTime Company Profile

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.