SiTime (NASDAQ:SITM) Stock Rating Lowered by Wall Street Zen

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

Other analysts have also recently issued research reports about the company. Roth Mkm reissued a “buy” rating and set a $450.00 price objective on shares of SiTime in a research report on Thursday, February 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiTime in a research report on Thursday, January 22nd. Stifel Nicolaus set a $450.00 price target on SiTime in a research note on Thursday, February 5th. Needham & Company LLC lifted their price target on SiTime from $400.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Finally, Loop Capital started coverage on SiTime in a research note on Friday, November 21st. They issued a “buy” rating and a $350.00 price target for the company. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $409.38.

SiTime Stock Performance

SiTime stock opened at $326.13 on Friday. SiTime has a twelve month low of $105.40 and a twelve month high of $446.95. The firm has a market cap of $8.58 billion, a PE ratio of -179.19 and a beta of 2.53. The firm’s 50 day moving average price is $375.58 and its two-hundred day moving average price is $327.43.

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

Insiders Place Their Bets

In other SiTime news, insider Fariborz Assaderaghi sold 4,984 shares of the stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $406.45, for a total transaction of $2,025,746.80. Following the transaction, the insider directly owned 89,194 shares of the company’s stock, valued at $36,252,901.30. This represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Raman Chitkara sold 501 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $425.03, for a total value of $212,940.03. Following the transaction, the director owned 21,508 shares in the company, valued at approximately $9,141,545.24. This trade represents a 2.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 23,263 shares of company stock worth $9,851,457 in the last 90 days. 2.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Rakuten Securities Inc. lifted its holdings in SiTime by 188.5% in the 4th 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. grew its holdings in SiTime by 190.3% during the third quarter. Hantz Financial Services Inc. now owns 90 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the last quarter. Optiver Holding B.V. grew its holdings in SiTime by 56.1% during the third quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock valued at $27,000 after purchasing an additional 32 shares during the last quarter. Larson Financial Group LLC raised its position in shares of SiTime by 3,200.0% in the third quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock valued at $30,000 after purchasing an additional 96 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of SiTime in the fourth quarter valued at approximately $33,000. 84.31% of the stock is owned by institutional investors.

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.