SiTime (NASDAQ:SITM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of SiTime (NASDAQ:SITM) from a hold rating to a buy rating in a report issued on Saturday morning.

A number of other analysts also recently weighed in on SITM. Needham & Company LLC increased their target price on shares of SiTime from $400.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Stifel Nicolaus set a $450.00 price objective on shares of SiTime in a research report on Thursday, February 5th. Roth Mkm reissued a “buy” rating and set a $450.00 target price on shares of SiTime in a research note on Thursday, February 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiTime in a research report on Thursday, January 22nd. Finally, Barclays set a $400.00 price target on SiTime in a report on Thursday, February 5th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $409.38.

SiTime Stock Performance

Shares of NASDAQ:SITM opened at $420.23 on Friday. SiTime has a 52 week low of $105.40 and a 52 week high of $446.95. The firm has a market cap of $11.05 billion, a PE ratio of -230.90 and a beta of 2.51. The firm’s fifty day moving average is $370.19 and its 200-day moving average is $306.51.

SiTime (NASDAQ:SITM) last announced its earnings results on Wednesday, February 4th. The company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.20 by $0.33. The firm had revenue of $113.29 million for the quarter, compared to the consensus estimate of $101.91 million. SiTime had a negative return on equity of 2.06% and a negative net margin of 13.13%.The business’s quarterly revenue was up 66.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.48 EPS. Sell-side analysts forecast that SiTime will post -2.44 EPS for the current year.

Insider Activity at SiTime

In other news, CEO Rajesh Vashist sold 2,000 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $369.20, for a total transaction of $738,400.00. Following the transaction, the chief executive officer owned 431,609 shares of the company’s stock, valued at $159,350,042.80. This represents a 0.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Samsheer Ahamad sold 9,100 shares of the business’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $441.47, for a total value of $4,017,377.00. Following the completion of the sale, the insider directly owned 52,938 shares of the company’s stock, valued at $23,370,538.86. The trade was a 14.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 24,712 shares of company stock valued at $9,562,777. Company insiders own 2.30% of the company’s stock.

Institutional Trading of SiTime

Hedge funds have recently bought and sold shares of the business. Rakuten Securities Inc. raised its holdings in SiTime by 188.5% during the fourth quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock worth $26,000 after buying an additional 49 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in shares of SiTime by 190.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 90 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares during the last quarter. Optiver Holding B.V. raised its holdings in shares of SiTime by 56.1% in the 3rd quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock worth $27,000 after acquiring an additional 32 shares during the last quarter. Larson Financial Group LLC lifted its position in SiTime by 3,200.0% in the 3rd quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock valued at $30,000 after acquiring an additional 96 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in SiTime during the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 84.31% of the company’s stock.

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.