Benchmark Upgrades SiTime (NASDAQ:SITM) to Strong-Buy

SiTime (NASDAQ:SITM) was upgraded by equities researchers at Benchmark to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other research analysts have also weighed in on the company. The Goldman Sachs Group reissued a “buy” rating and set a $900.00 price target on shares of SiTime in a research note on Thursday, August 6th. Roth Capital reaffirmed a “buy” rating and issued a $900.00 price objective on shares of SiTime in a research report on Thursday, May 7th. Needham & Company LLC upped their target price on SiTime from $850.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Barclays upgraded SiTime from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $400.00 to $850.00 in a research report on Thursday, May 7th. Finally, Zacks Research upgraded SiTime from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $706.67.

SiTime Price Performance

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 firm has a market cap of $18.01 billion, a price-to-earnings ratio of 1,222.06 and a beta of 2.94. The company’s 50-day moving average is $635.80 and its two-hundred day moving average is $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.

SiTime (NASDAQ:SITM) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $2.34 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.39. The business had revenue of $157.43 million during the quarter, compared to the consensus estimate of $146.46 million. SiTime had a net margin of 3.01% and a return on equity of 4.99%. The company’s quarterly revenue was up 126.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.47 earnings per share. SiTime has set its Q3 2026 guidance at 3.500-3.650 EPS. Research analysts expect that SiTime will post 6.33 EPS for the current year.

Insider Activity at SiTime

In other news, Director Torsten Kreindl sold 1,050 shares of the company’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 in the company, valued at approximately $9,007,163.27. This represents a 7.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Rajesh Vashist sold 5,000 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $750.00, for a total transaction of $3,750,000.00. Following the sale, the chief executive officer directly owned 9,781 shares of the company’s stock, valued at approximately $7,335,750. The trade was a 33.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 68,340 shares of company stock valued at $49,029,718. 1.40% of the stock is currently owned by corporate insiders.

Institutional Trading of SiTime

Large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in SiTime by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 2,825,402 shares of the company’s stock valued at $997,904,000 after purchasing an additional 61,336 shares during the last quarter. BlackRock Inc. purchased a new position in shares of SiTime during the 2nd quarter valued at approximately $1,781,937,000. Invesco Ltd. grew its position in shares of SiTime by 1.8% during the third quarter. Invesco Ltd. now owns 1,037,305 shares of the company’s stock worth $312,550,000 after buying an additional 18,165 shares in the last quarter. State Street Corp grew its position in shares of SiTime by 3.7% during the second quarter. State Street Corp now owns 911,280 shares of the company’s stock worth $194,176,000 after buying an additional 32,178 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of SiTime by 22.0% during the second quarter. Ameriprise Financial Inc. now owns 736,281 shares of the company’s stock worth $156,887,000 after buying an additional 132,948 shares in the last quarter. 84.31% of the stock is currently owned by institutional investors and hedge funds.

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.