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

SiTime Corporation (NASDAQ:SITM) has been assigned an average rating of “Moderate Buy” from the ten research firms that are presently covering the stock, Marketbeat.com reports. One equities research 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 issued a report on the stock in the last year is $661.8750.

SITM has been the subject of several recent analyst reports. Roth Mkm reaffirmed a “buy” rating and set a $900.00 price objective on shares of SiTime in a research report on Thursday, May 7th. Zacks Research raised shares of SiTime from a “hold” rating to a “strong-buy” rating in a report on Friday, May 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of SiTime in a report on Tuesday, April 21st. UBS Group increased their target price on shares of SiTime from $675.00 to $775.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Barclays raised shares of SiTime from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $400.00 to $850.00 in a report on Thursday, May 7th.

SiTime Stock Performance

SITM stock opened at $684.86 on Wednesday. The company’s 50-day simple moving average is $632.70 and its 200 day simple moving average is $458.76. SiTime has a 52 week low of $186.49 and a 52 week high of $901.81. The company has a market capitalization of $18.08 billion, a PE ratio of -678.08 and a beta of 2.94.

SiTime (NASDAQ:SITM) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.44 EPS for the quarter, beating 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 business 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 company posted $0.26 earnings per share. SiTime’s revenue was up 88.3% compared to the same quarter last year. On average, analysts forecast that SiTime will post 3.23 EPS for the current year.

Insider Buying and Selling

In other SiTime news, Director Akira Takata sold 1,500 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $860.86, for a total transaction of $1,291,290.00. Following the completion of the sale, the director owned 12,234 shares of the company’s stock, valued at approximately $10,531,761.24. This represents a 10.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Raman Chitkara sold 2,000 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $727.38, for a total transaction of $1,454,760.00. Following the sale, the director directly owned 19,898 shares of the company’s stock, valued at $14,473,407.24. This represents a 9.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 74,624 shares of company stock valued at $52,399,813 over the last three months. Insiders own 1.40% of the company’s stock.

Institutional Trading of SiTime

Several large investors have recently modified their holdings of the stock. Norges Bank purchased a new stake in SiTime in the 4th quarter worth about $83,977,000. Whale Rock Capital Management LLC increased its holdings in SiTime by 45.4% in the 4th quarter. Whale Rock Capital Management LLC now owns 698,539 shares of the company’s stock worth $246,717,000 after acquiring an additional 218,038 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in SiTime by 61.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 562,892 shares of the company’s stock worth $198,808,000 after acquiring an additional 213,242 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in SiTime in the 4th quarter worth about $59,452,000. Finally, Wellington Management Group LLP increased its holdings in SiTime by 36.8% in the 3rd quarter. Wellington Management Group LLP now owns 537,741 shares of the company’s stock worth $162,027,000 after acquiring an additional 144,671 shares during the last quarter. Institutional investors and hedge funds 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.