SiTime Corporation (NASDAQ:SITM) Receives Average Rating of “Moderate Buy” from Brokerages

SiTime Corporation (NASDAQ:SITM) has been assigned an average rating of “Moderate Buy” from the ten analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $661.8750.

A number of brokerages recently issued reports on SITM. Zacks Research raised shares of SiTime from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of SiTime in a research report on Tuesday, April 21st. The Goldman Sachs Group reissued a “buy” rating and set a $800.00 price target on shares of SiTime in a research report on Thursday, May 7th. Wall Street Zen raised shares of SiTime from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, UBS Group lifted 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.

Insider Activity at SiTime

In other SiTime news, Director Akira Takata sold 1,500 shares of SiTime stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $860.86, for a total value of $1,291,290.00. Following the completion of the transaction, the director directly owned 12,234 shares of the company’s stock, valued at approximately $10,531,761.24. The trade was a 10.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Fariborz Assaderaghi sold 4,984 shares of SiTime stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $406.45, for a total transaction of $2,025,746.80. Following the completion of the transaction, the insider directly owned 89,194 shares of the company’s stock, valued at $36,252,901.30. This trade represents a 5.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 12,610 shares of company stock worth $6,210,444 over the last 90 days. 1.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Rakuten Securities Inc. raised its holdings in SiTime by 188.5% in the fourth quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock worth $26,000 after buying an additional 49 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of SiTime by 26.2% in the first quarter. Parallel Advisors LLC now owns 77 shares of the company’s stock worth $27,000 after acquiring an additional 16 shares during the period. Optiver Holding B.V. grew its stake in shares of SiTime by 56.1% in the third quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock worth $27,000 after acquiring an additional 32 shares during the period. Hantz Financial Services Inc. grew its stake in shares of SiTime by 190.3% in the third quarter. Hantz Financial Services Inc. now owns 90 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of SiTime in the fourth quarter worth approximately $33,000. 84.31% of the stock is owned by hedge funds and other institutional investors.

SiTime Trading Up 2.4%

NASDAQ:SITM opened at $728.56 on Friday. The company has a 50-day moving average price of $510.07 and a 200-day moving average price of $408.52. SiTime has a 12 month low of $186.49 and a 12 month high of $901.81. The stock has a market cap of $19.23 billion, a price-to-earnings ratio of -721.35 and a beta of 2.91.

SiTime (NASDAQ:SITM) last posted its earnings results on Wednesday, May 6th. The company reported $1.44 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $103.51 million. During the same period last year, the company posted $0.26 EPS. The company’s quarterly revenue was up 88.3% compared to the same quarter last year. Equities analysts forecast that SiTime will post 3.23 EPS for the current fiscal year.

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.