SiTime shares jump 16% after Seaport Global Securities upgrades stock to Buy
Key Facts
SiTime shares rose about 16% in Friday, November 6, 2026 trading, after Seaport Global Securities upgraded its rating to Buy from Neutral and set a $425 price target, according to Investing.com and StreetInsider. The upgrade followed a decline of about 50% from the stock’s September highs, according to Investing.com. A Seaport analyst said the recent sell-off was “indiscriminate” and “overdone,” creating an opportunity to buy the stock. The price target reflects the research firm’s view of the stock’s value, while the upgrade refocused attention on SiTime’s trajectory after a sharp drop. In Thursday, November 5 trading, the stock had closed at $355, according to EL7 data.
Seaport based its positive view on the company’s execution and expansion, saying SiTime “is opening new markets and extending its competitive lead.” It added that the company’s design wins are expanding in data centers and other markets. At the same time, the analyst said rapid growth could strain the company’s operating capacity, saying it could “stumble operationally” as it continues to expand. The analyst also described supply constraints as a continuing concern. The upgrade thus paired a bet on expanding markets with a warning about whether execution can keep pace with demand.
The view follows strong third-quarter 2026 results, with SiTime revenue reaching about $298.7 million, compared with $83.6 million in the same period a year earlier. The company posted GAAP net income of $4.4 million, or $0.14 per diluted share. Non-GAAP net income was $130.3 million, or $4.01 per diluted share. The chief executive said third-quarter growth was broad-based and that revenue in the core CED segment grew 202% year over year. Management linked the growth to the continued expansion of AI infrastructure and demand for specialized timing solutions.
SiTime said its annualized revenue run rate, based on third-quarter performance, exceeded $1 billion at the end of the period, following rapid organic growth and the addition of the TPD business. The annualized rate offers a reading of revenue at the quarter’s pace, while the year-over-year comparison reflects reported revenue growth during the same period. Core CED performance, according to the company, was supported by continued AI infrastructure buildout. Seaport’s analyst, meanwhile, maintained concerns about supply constraints and the ability of operations to absorb the expansion. That puts growth expectations to the test of converting demand into revenue while managing execution requirements.
Seaport’s upgrade came amid other changes to the stock’s valuation on Thursday, November 5, when four research firms cut their price targets while maintaining positive ratings. Needham lowered its target to $600 from $900, and Stifel cut its target to $750 from $800. Morgan Stanley also lowered its target to $640 from $730, and UBS cut its target to $650 from $750, according to Investing.com. The changes show differing institutional estimates of target price levels, alongside the decline that preceded Seaport’s upgrade. The published figures did not provide a separate explanation for each cut.
Looking ahead, SiTime announced a 3-for-1 forward stock split. Each shareholder of record at market close on December 3, 2026, will receive two additional shares for every share held. The additional shares are scheduled to be distributed after market close on December 4, with split-adjusted trading set to begin on December 7, 2026, according to the company. Those dates put the split in the weeks after Seaport’s upgrade and the third-quarter results. The $425 target remains a price recommendation from Seaport, while investors await the execution of the expansion and the announced split dates.