SiTime (NASDAQ:SITM) Stock Price Target Cut by UBS Group

SiTime (NASDAQ:SITM) had its price target decreased by equities researchers at UBS Group from $750.00 to $650.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group‘s price target points to a potential upside of 83.10% from the stock’s previous close.

A number of other equities analysts have also recently commented on the company. Morgan Stanley began coverage on SiTime in a report on Thursday, September 17th. They issued an “overweight” rating and a $370.00 target price on the stock. Weiss Ratings cut SiTime from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, October 23rd. Needham & Company LLC reduced their price target on SiTime from $900.00 to $600.00 and set a “buy” rating for the company in a research report on Thursday. Wall Street Zen raised SiTime from a “hold” rating to a “buy” rating in a research note on Saturday, October 17th. Finally, Benchmark assumed coverage on SiTime in a research report on Wednesday, August 19th. They set a “buy” rating and a $850.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, SiTime presently has an average rating of “Moderate Buy” and a consensus price target of $687.00.

SiTime Stock Down 12.0%

SITM opened at $355.00 on Thursday. The firm’s 50 day simple moving average is $565.87 and its two-hundred day simple moving average is $546.00. The company has a market capitalization of $10.68 billion, a PE ratio of 377.66 and a beta of 2.88. SiTime has a 1-year low of $243.68 and a 1-year high of $901.81. The company has a current ratio of 19.44, a quick ratio of 18.50 and a debt-to-equity ratio of 1.29.

SiTime (NASDAQ:SITM) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $4.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.62 by $0.39. SiTime had a net margin of 3.87% and a return on equity of 13.92%. The firm had revenue of $298.67 million during the quarter, compared to the consensus estimate of $292.65 million. During the same quarter in the previous year, the firm posted $0.87 EPS. The company’s revenue for the quarter was up 257.4% compared to the same quarter last year. As a group, equities analysts forecast that SiTime will post 6.37 EPS for the current year.

Insider Activity

In other SiTime news, Director Edward H. Frank sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $745.00, for a total transaction of $745,000.00. Following the sale, the director directly owned 10,999 shares of the company’s stock, valued at $8,194,255. This trade represents a 8.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Fariborz Assaderaghi sold 1,374 shares of the firm’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $701.05, for a total value of $963,242.70. Following the sale, the insider directly owned 66,861 shares in the company, valued at approximately $46,872,904.05. This represents a 2.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 14,874 shares of company stock worth $9,298,908. 1.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Root Financial Partners LLC purchased a new stake in SiTime during the 3rd quarter valued at approximately $25,000. Parallel Advisors LLC raised its position in shares of SiTime by 26.2% during the first quarter. Parallel Advisors LLC now owns 77 shares of the company’s stock valued at $27,000 after buying an additional 16 shares during the last quarter. USA Financial Formulas bought a new stake in shares of SiTime during the first quarter valued at approximately $33,000. V Square Quantitative Management LLC purchased a new position in shares of SiTime in the third quarter worth $35,000. Finally, Optiver Holding B.V. lifted its holdings in shares of SiTime by 433.3% in the first quarter. Optiver Holding B.V. now owns 128 shares of the company’s stock worth $44,000 after buying an additional 104 shares in the last quarter. 84.31% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about SiTime

Here are the key news stories impacting SiTime this week:

• Positive Sentiment: Q3 results beat estimates. SiTime reported EPS of $4.01 versus the $3.62 consensus and revenue of $298.67 million, up 257.4% year over year. Results also included a 70.7% gross margin; growth was supported in part by the Renesas timing acquisition. Read More.
• Positive Sentiment: Management pointed to expanding demand. The earnings-call coverage cited AI infrastructure demand and opportunities in optical networking, alongside the integration of TPD, as drivers supporting the outlook. Read More.
• Positive Sentiment: Seaport Global upgraded SITM to Buy from Neutral and set a $425 price target. Rosenblatt Securities also reportedly raised its target. Read More.
• Neutral Sentiment: Analyst views are not uniformly more bullish: Needham cut its price target to $600 from $900 but maintained a Buy rating. This tempers the impact of the upgrades, though the firm remains positive on the shares. Read More.
• Negative Sentiment: Supply availability could limit growth. Earnings-call coverage says wafer constraints may persist through 2027, potentially restricting SiTime’s ability to meet demand. Read More.

SiTime Company Profile

SiTime Corporation (NASDAQ: SITM) develops and supplies precision timing solutions for electronic systems. Its products are designed to generate, distribute and maintain accurate timing signals, which help connected devices and infrastructure operate reliably and efficiently.

The company’s portfolio includes silicon MEMS-based resonators and oscillators, clock generators, clock synchronizers, jitter attenuators and other timing components. These products are used in applications such as data centers, telecommunications and networking equipment, automotive systems, industrial machinery, aerospace and defense electronics, and consumer devices.

SiTime’s technology is intended to address demanding requirements for frequency stability, signal integrity, power efficiency and resilience in challenging operating environments.