SiTime (NASDAQ:SITM) Stock Price Up 9.3% – Should You Buy?

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Needham & Company LLC raised their price target on SiTime from $850.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Morgan Stanley set a $370.00 price objective on shares of SiTime in a research report on Thursday. Zacks Research raised shares of SiTime from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 13th. Benchmark began coverage on shares of SiTime in a research note on Wednesday, August 19th. They set a “buy” rating and a $850.00 target price for the company. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $900.00 target price on shares of SiTime in a report on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, SiTime currently has a consensus rating of “Buy” and a consensus price target of $717.78.

SiTime Stock Performance

The company has a debt-to-equity ratio of 1.29, a current ratio of 19.44 and a quick ratio of 18.50. The stock’s 50-day moving average price is $598.59 and its 200-day moving average price is $574.24. The company has a market cap of $18.06 billion, a P/E ratio of 1,225.56 and a beta of 2.86.

SiTime (NASDAQ:SITM) last released 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 for 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%. SiTime’s revenue for the quarter was up 126.5% compared to the same quarter last year. During the same period last year, the firm earned $0.47 earnings per share. SiTime has set its Q3 2026 guidance at 3.500-3.650 EPS. Equities analysts anticipate that SiTime Corporation will post 6.33 EPS for the current year.

Insider Buying and Selling at SiTime

In other news, CEO Rajesh Vashist sold 12,000 shares of SiTime stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $603.47, for a total value of $7,241,640.00. Following the completion of the sale, the chief executive officer directly owned 345,544 shares in the company, valued at approximately $208,525,437.68. The trade was a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward Frank sold 1,000 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $745.00, for a total value of $745,000.00. Following the sale, the director directly owned 10,999 shares in the company, valued at $8,194,255. This represents a 8.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 14,550 shares of company stock valued at $9,093,418 over the last ninety days. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On SiTime

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. bought a new position in SiTime in the second quarter valued at approximately $1,781,937,000. Geode Capital Management LLC boosted its holdings in shares of SiTime by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 539,425 shares of the company’s stock valued at $190,550,000 after purchasing an additional 15,850 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of SiTime by 5.4% in the 1st quarter. Bank of New York Mellon Corp now owns 372,943 shares of the company’s stock valued at $128,796,000 after purchasing an additional 18,983 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of SiTime by 13.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 249,714 shares of the company’s stock worth $88,196,000 after buying an additional 30,464 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of SiTime during the 4th quarter worth $83,977,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.

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.