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

Shares of SiTime Corporation (NASDAQ:SITM) have been assigned a consensus rating of “Moderate Buy” from the ten analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $661.8750.

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus increased their price target on shares of SiTime from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Wall Street Zen upgraded shares of SiTime from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Roth Mkm restated a “buy” rating and set a $900.00 price target on shares of SiTime in a research report on Thursday, May 7th. Weiss Ratings restated a “sell (d-)” rating on shares of SiTime in a research report on Tuesday, April 21st. Finally, UBS Group boosted their price target on shares of SiTime from $675.00 to $775.00 and gave the company a “buy” rating in a research report on Thursday, May 7th.

SiTime Stock Performance

Shares of NASDAQ SITM opened at $710.20 on Friday. SiTime has a fifty-two week low of $186.49 and a fifty-two week high of $901.81. The stock has a market cap of $18.75 billion, a PE ratio of -703.17 and a beta of 2.91. The stock has a fifty day moving average of $549.22 and a 200-day moving average of $423.37.

SiTime (NASDAQ:SITM) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.30. SiTime had a negative net margin of 6.38% and a positive return on equity of 0.53%. The firm had revenue of $113.57 million for the quarter, compared to the consensus estimate of $103.51 million. During the same period in the prior year, the firm posted $0.26 earnings per share. The company’s revenue for the quarter was up 88.3% on a year-over-year basis. On average, sell-side analysts predict that SiTime will post 3.23 EPS for the current year.

Insider Transactions at SiTime

In other SiTime news, Director Akira Takata sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $860.86, for a total value of $1,291,290.00. Following the sale, the director owned 12,234 shares of the company’s stock, valued at $10,531,761.24. This trade represents a 10.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Raman Chitkara sold 501 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $425.03, for a total transaction of $212,940.03. Following the completion of the transaction, the director directly owned 21,508 shares of the company’s stock, valued at approximately $9,141,545.24. This represents a 2.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 9,335 shares of company stock worth $5,434,813. 1.40% of the stock is owned by insiders.

Hedge Funds Weigh In On SiTime

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC boosted its stake in SiTime by 26.2% in the first quarter. Parallel Advisors LLC now owns 77 shares of the company’s stock worth $27,000 after buying an additional 16 shares in the last quarter. Los Angeles Capital Management LLC raised its position in SiTime by 0.3% in the 4th quarter. Los Angeles Capital Management LLC now owns 9,023 shares of the company’s stock worth $3,187,000 after purchasing an additional 25 shares during the period. Optiver Holding B.V. raised its position in SiTime by 56.1% in the 3rd quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock worth $27,000 after purchasing an additional 32 shares during the period. Atlas Brown Inc. raised its position in SiTime by 1.6% in the 4th quarter. Atlas Brown Inc. now owns 2,292 shares of the company’s stock worth $810,000 after purchasing an additional 37 shares during the period. Finally, CWM LLC raised its position in SiTime by 4.2% in the 4th quarter. CWM LLC now owns 951 shares of the company’s stock worth $336,000 after purchasing an additional 38 shares during the period. Hedge funds and other institutional investors own 84.31% of the company’s stock.

SiTime Company Profile

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.