SiTime Corporation (NASDAQ:SITM) Given Consensus Rating of “Moderate Buy” by Brokerages

SiTime Corporation (NASDAQ:SITM) has earned a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $409.3750.

A number of research firms have weighed in on SITM. The Goldman Sachs Group initiated coverage on SiTime in a research note on Monday, December 15th. They set a “buy” rating and a $420.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiTime in a research note on Thursday, January 22nd. Barclays set a $400.00 price target on SiTime in a report on Thursday, February 5th. Roth Mkm reissued a “buy” rating and issued a $450.00 price objective on shares of SiTime in a report on Thursday, February 5th. Finally, Stifel Nicolaus set a $450.00 price objective on shares of SiTime in a research report on Thursday, February 5th.

SiTime Price Performance

SITM opened at $347.05 on Friday. The firm has a market capitalization of $9.13 billion, a price-to-earnings ratio of -190.69 and a beta of 2.57. The company’s 50 day simple moving average is $372.53 and its two-hundred day simple moving average is $337.14. SiTime has a 1-year low of $105.40 and a 1-year high of $446.95.

SiTime (NASDAQ:SITM) last posted its quarterly 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 return on equity of 2.06% and a negative net margin of 13.13%.The business had revenue of $113.29 million during the quarter, compared to analyst estimates of $101.91 million. During the same period in the prior year, the business earned $0.48 earnings per share. The business’s revenue was up 66.3% compared to the same quarter last year. On average, equities analysts anticipate that SiTime will post -2.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Fariborz Assaderaghi sold 4,984 shares of SiTime stock in a transaction that occurred 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 sale, the insider owned 89,194 shares of the company’s stock, valued at approximately $36,252,901.30. The trade was a 5.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Samsheer Ahamad sold 9,100 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $441.47, for a total value of $4,017,377.00. Following the completion of the transaction, the insider owned 52,938 shares in the company, valued at $23,370,538.86. This represents a 14.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 22,512 shares of company stock worth $9,581,432. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SiTime

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SITM. Rockefeller Capital Management L.P. lifted its stake in shares of SiTime by 1,368.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,259 shares of the company’s stock valued at $1,151,000 after purchasing an additional 3,037 shares during the last quarter. Corient Private Wealth LLC grew its holdings in shares of SiTime by 5.9% during the 4th quarter. Corient Private Wealth LLC now owns 703 shares of the company’s stock worth $249,000 after purchasing an additional 39 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of SiTime during the 4th quarter worth about $63,000. T. Rowe Price Investment Management Inc. raised its holdings in SiTime by 2,164.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 137,878 shares of the company’s stock valued at $48,698,000 after buying an additional 131,789 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its holdings in SiTime by 18.0% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 1,036 shares of the company’s stock valued at $366,000 after buying an additional 158 shares during the period. Hedge funds and other institutional investors own 84.31% of the company’s stock.

About SiTime

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.