SiTime (SITM) closed the last trading day at $166.40, moving -0.67% from the previous trading session. That move was narrower than the S&P 500’s 2.77% daily loss. Elsewhere, the Dow lost 2.82%, while the tech-heavy Nasdaq lost 0.83%.
As of today, the company’s shares have lost 33.13% over the past month. Meanwhile, the IT & Technology sector lost 6.75%, while the S&P 500 lost 1.35%.
Investors are hoping for strength from SiTime ahead of its next earnings release, which is expected on May 4, 2022. The company is expected to post EPS of $0.76, up 300% from the 2020 quarter. ‘last year. Our most recent consensus estimate calls for quarterly revenue of $65 million, up 82.89% from the prior year period.
For the full year, our Zacks consensus estimates call for earnings of $3.58 per share and revenue of $296.45 million, which would represent swings of +17.38% and +35, 48%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for SiTime. These revisions help show the ever-changing nature of short-term trading trends. Therefore, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Our research shows that these estimate changes are directly correlated to short-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes into account these estimation changes and provides a clear and actionable scoring model.
The Zacks ranking system ranges from #1 (strong buy) to #5 (strong sell). It has a remarkable, externally audited track record of success, with No. 1 stocks delivering an average annual return of +25% since 1988. Zacks Consensus’ EPS estimate has remained flat over the past month. SiTime currently sports a Zacks rank of #3 (Hold).
Investors should also note SiTime’s current valuation metrics, including its Forward P/E ratio of 46.83. For comparison, its industry has an average Forward P/E of 16.51, which means SiTime is trading at a premium to the group.
Meanwhile, SITM’s PEG ratio is currently 3.12. This popular measure is similar to the widely known P/E ratio, except that the PEG ratio also takes into account the company’s expected earnings growth rate. Electronics – Miscellaneous stocks maintain, on average, a PEG ratio of 1.53 based on yesterday’s closing prices.
The Electronics – Miscellaneous Products industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Ranking of 92, which places it in the top 37% of over 250 industries.
The Zacks Industry Ranking assesses the strength of our individual industry groups by measuring the average Zacks Ranking of individual stocks within the groups. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.
Be sure to track all of these stock movement metrics, and more, at Zacks.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.