SiTime (NASDAQ:SITM) Rating Increased to Buy at Wall Street Zen

SiTime (NASDAQ:SITM) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Sunday.

Other equities analysts have also recently issued research reports about the company. UBS Group lifted their price objective on SiTime from $430.00 to $485.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Raymond James Financial reissued an “outperform” rating on shares of SiTime in a research note on Tuesday, December 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of SiTime in a report on Thursday, January 22nd. Stifel Nicolaus set a $450.00 price target on shares of SiTime in a research note on Thursday, February 5th. Finally, Barclays set a $400.00 price target on shares of SiTime in a report on Thursday, February 5th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, SiTime presently has a consensus rating of “Moderate Buy” and an average target price of $409.38.

SiTime Trading Down 8.7%

Shares of SiTime stock opened at $325.32 on Friday. The company has a market capitalization of $8.56 billion, a PE ratio of -178.75 and a beta of 2.53. SiTime has a 12 month low of $105.40 and a 12 month high of $446.95. The stock’s fifty day simple moving average is $375.92 and its 200 day simple moving average is $331.60.

SiTime (NASDAQ:SITM) last posted its earnings results on Wednesday, February 4th. The company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.33. SiTime had a negative return on equity of 2.06% and a negative net margin of 13.13%.The firm had revenue of $113.29 million for the quarter, compared to analyst estimates of $101.91 million. During the same period in the previous year, the company posted $0.48 earnings per share. The company’s revenue for the quarter was up 66.3% on a year-over-year basis. Analysts predict that SiTime will post -2.44 EPS for the current fiscal year.

Insider Buying and Selling at SiTime

In related news, insider Fariborz Assaderaghi sold 4,984 shares of the stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $406.45, for a total transaction of $2,025,746.80. Following the completion of the transaction, the insider directly owned 89,194 shares in the company, valued at approximately $36,252,901.30. This trade represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Samsheer Ahamad sold 9,100 shares of SiTime stock in a transaction that occurred on 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 in the company, valued at approximately $23,370,538.86. This represents a 14.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 23,263 shares of company stock valued at $9,851,457 in the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

Institutional Trading of SiTime

A number of institutional investors have recently made changes to their positions in SITM. Rakuten Securities Inc. boosted 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 purchasing an additional 49 shares during the last quarter. Hantz Financial Services Inc. increased its stake in SiTime by 190.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 90 shares of the company’s stock valued at $27,000 after buying an additional 59 shares during the last quarter. Optiver Holding B.V. lifted its position in SiTime by 56.1% during the 3rd quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock worth $27,000 after buying an additional 32 shares in the last quarter. Larson Financial Group LLC lifted its position in SiTime by 3,200.0% during the 3rd quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock worth $30,000 after buying an additional 96 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of SiTime during the 4th quarter worth about $33,000. Institutional investors 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.