SiTime (NASDAQ:SITM) Trading 9.3% Higher – Here’s Why

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

Analyst Ratings Changes

SITM has been the topic of a number of research analyst reports. The Goldman Sachs Group restated a “buy” rating and issued a $900.00 price target on shares of SiTime in a research note on Thursday, August 6th. Needham & Company LLC increased their price objective on shares of SiTime from $850.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Wall Street Zen upgraded shares of SiTime from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Zacks Research raised shares of SiTime from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 13th. Finally, UBS Group upped their price target on shares of SiTime from $775.00 to $840.00 and gave the stock a “buy” rating 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 given a Hold rating to the company’s stock. According to MarketBeat, SiTime presently has an average rating of “Buy” and a consensus price target of $717.78.

SiTime Price Performance

The company has a fifty day simple moving average of $598.59 and a 200 day simple moving average of $574.24. The stock has a market capitalization of $18.06 billion, a price-to-earnings ratio of 1,225.56 and a beta of 2.86. The company has a debt-to-equity ratio of 1.29, a quick ratio of 18.50 and a current ratio of 19.44.

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

Insider Activity

In other news, Director Katherine Schuelke sold 500 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $698.05, for a total value of $349,025.00. Following the sale, the director directly owned 12,010 shares of the company’s stock, valued at approximately $8,383,580.50. This represents a 4.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Torsten Kreindl sold 1,050 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $721.67, for a total transaction of $757,753.50. Following the sale, the director owned 12,481 shares of the company’s stock, valued at approximately $9,007,163.27. This trade represents a 7.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 14,550 shares of company stock worth $9,093,418. 1.40% of the stock is owned by company insiders.

Institutional Trading of SiTime

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in SiTime during the second quarter worth $1,781,937,000. Geode Capital Management LLC lifted its holdings in SiTime by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 539,425 shares of the company’s stock worth $190,550,000 after acquiring an additional 15,850 shares during the period. Bank of New York Mellon Corp grew its position in SiTime by 5.4% during the first quarter. Bank of New York Mellon Corp now owns 372,943 shares of the company’s stock valued at $128,796,000 after buying an additional 18,983 shares during the period. Goldman Sachs Group Inc. increased its stake 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 purchasing an additional 30,464 shares during the last quarter. Finally, Norges Bank purchased a new stake in SiTime in the fourth quarter worth $83,977,000. 84.31% of the stock is owned by institutional investors.

About SiTime

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.