SiTime (NASDAQ:SITM) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen lowered shares of SiTime (NASDAQ:SITM) from a buy rating to a hold rating in a research note published on Saturday morning.

Several other equities analysts also recently issued reports on SITM. Roth Mkm restated a “buy” rating and set a $450.00 price objective on shares of SiTime in a report on Thursday, February 5th. Barclays set a $400.00 target price on shares of SiTime in a research note on Thursday, February 5th. Raymond James Financial restated an “outperform” rating on shares of SiTime in a research note on Tuesday, December 2nd. Loop Capital started coverage on shares of SiTime in a report on Friday, November 21st. They issued a “buy” rating and a $350.00 price target for the company. Finally, The Goldman Sachs Group assumed coverage on shares of SiTime in a research note on Monday, December 15th. They set a “buy” rating and a $420.00 price objective for the company. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $409.38.

SiTime Price Performance

Shares of SITM stock opened at $326.13 on Friday. SiTime has a 1-year low of $105.40 and a 1-year high of $446.95. The stock’s fifty day moving average price is $375.58 and its 200 day moving average price is $328.00. The company has a market cap of $8.58 billion, a price-to-earnings ratio of -179.19 and a beta of 2.53.

SiTime (NASDAQ:SITM) last released its quarterly earnings results on Wednesday, February 4th. The company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.33. The company had revenue of $113.29 million during the quarter, compared to analysts’ expectations of $101.91 million. SiTime had a negative return on equity of 2.06% and a negative net margin of 13.13%.The firm’s revenue was up 66.3% compared to the same quarter last year. During the same period last year, the business posted $0.48 earnings per share. As a group, equities research analysts anticipate that SiTime will post -2.44 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Akira Takata sold 3,500 shares of SiTime stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $431.73, for a total transaction of $1,511,055.00. Following the completion of the transaction, the director directly owned 13,734 shares in the company, valued at approximately $5,929,379.82. This trade represents a 20.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Rajesh Vashist sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $369.20, for a total value of $738,400.00. Following the completion of the transaction, the chief executive officer directly owned 431,609 shares of the company’s stock, valued at $159,350,042.80. The trade was a 0.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 23,263 shares of company stock worth $9,851,457. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SiTime

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Ariose Capital Management Ltd purchased a new stake in shares of SiTime during the 3rd quarter worth about $2,974,000. Emerald Mutual Fund Advisers Trust grew its position in shares of SiTime by 10.6% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 98,689 shares of the company’s stock valued at $29,736,000 after acquiring an additional 9,492 shares during the period. Federated Hermes Inc. increased its stake in shares of SiTime by 25.0% in the 3rd quarter. Federated Hermes Inc. now owns 125,000 shares of the company’s stock valued at $37,664,000 after purchasing an additional 25,000 shares in the last quarter. Intech Investment Management LLC raised its holdings in SiTime by 241.3% in the 2nd quarter. Intech Investment Management LLC now owns 28,400 shares of the company’s stock worth $6,051,000 after purchasing an additional 20,078 shares during the period. Finally, Invesco Ltd. raised its holdings in SiTime by 4.8% in the 2nd quarter. Invesco Ltd. now owns 1,019,140 shares of the company’s stock worth $217,158,000 after purchasing an additional 46,721 shares during the period. Institutional investors and hedge funds own 84.31% of the company’s stock.

About SiTime

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.