SiTime (NASDAQ:SITM) Cut to Hold at Zacks Research

Zacks Research downgraded shares of SiTime (NASDAQ:SITM) from a strong-buy rating to a hold rating in a research report report published on Monday,Zacks reports.

Several other analysts have also issued reports on SITM. The Goldman Sachs Group reiterated a “buy” rating and set a $900.00 target price on shares of SiTime in a report on Thursday, August 6th. Morgan Stanley started coverage on SiTime in a research note on Thursday, September 17th. They issued an “overweight” rating and a $370.00 price target for the company. Wall Street Zen cut SiTime from a “buy” rating to a “hold” rating in a research note on Saturday, September 26th. Weiss Ratings cut SiTime from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, September 22nd. Finally, Needham & Company LLC increased their price objective on SiTime from $850.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $717.78.

SiTime Stock Down 6.5%

SiTime stock opened at $665.16 on Monday. The company has a current ratio of 19.44, a quick ratio of 18.50 and a debt-to-equity ratio of 1.29. SiTime has a 1-year low of $243.68 and a 1-year high of $901.81. The company has a fifty day simple moving average of $623.71 and a 200 day simple moving average of $605.38. The company has a market cap of $20.00 billion, a P/E ratio of 1,357.47 and a beta of 2.88.

SiTime (NASDAQ:SITM) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $2.34 EPS for the quarter, topping 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 net margin of 3.01% and a return on equity of 4.99%. The company’s revenue for the quarter was up 126.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.47 EPS. SiTime has set its Q3 2026 guidance at 3.500-3.650 EPS. Research analysts anticipate that SiTime will post 6.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SiTime news, insider Fariborz Assaderaghi sold 1,374 shares of the company’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $701.05, for a total value of $963,242.70. Following the sale, the insider owned 66,861 shares in the company, valued at $46,872,904.05. This represents a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $721.67, for a total value of $757,753.50. Following the completion of the sale, the director directly owned 12,481 shares of the company’s stock, valued at approximately $9,007,163.27. The trade was a 7.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 15,924 shares of company stock worth $10,056,661 in the last three months. Insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in SiTime in the 2nd quarter valued at $1,781,937,000. Bank of New York Mellon Corp bought a new stake in shares of SiTime in the second quarter valued at about $123,264,000. Summit Partners Public Asset Management LLC boosted its position in shares of SiTime by 4,231.9% in the fourth quarter. Summit Partners Public Asset Management LLC now owns 123,958 shares of the company’s stock valued at $43,781,000 after acquiring an additional 126,958 shares during the period. Styrax Capital LP acquired a new position in shares of SiTime in the fourth quarter valued at about $31,825,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of SiTime by 865.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 79,178 shares of the company’s stock valued at $27,344,000 after acquiring an additional 70,974 shares in the last quarter. 84.31% of the stock is owned by institutional investors and hedge funds.

About SiTime

SiTime Corporation is a fabless semiconductor company that develops precision timing solutions based on microelectromechanical systems (MEMS) technology. Its products are designed to generate, distribute, and synchronize timing signals used by electronic systems, helping equipment operate reliably and maintain accurate data transmission.

The company’s portfolio includes MEMS oscillators, clock generators, clock buffers, resonators, and related timing components. These products are used in data centers, wired and wireless communications infrastructure, automotive systems, industrial equipment, consumer electronics, aerospace and defense applications, and other electronics markets.

Founded in 2005 and headquartered in Santa Clara, California, SiTime serves customers and markets internationally.