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

SiTime Corporation (NASDAQ:SITM) has earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $415.6250.

A number of equities research analysts have issued reports on SITM shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiTime in a research report on Tuesday, April 21st. Stifel Nicolaus increased their price target on SiTime from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. UBS Group increased their price target on SiTime from $430.00 to $485.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Wall Street Zen lowered SiTime from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $450.00 price target on shares of SiTime in a research report on Thursday, February 5th.

SiTime Price Performance

SITM stock opened at $547.98 on Tuesday. The firm has a market capitalization of $14.47 billion, a P/E ratio of -301.09 and a beta of 2.57. The business’s 50-day moving average is $398.66 and its two-hundred day moving average is $357.19. SiTime has a 1 year low of $138.74 and a 1 year high of $591.13.

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. The company had revenue of $113.29 million for the quarter, compared to analyst estimates of $101.91 million. SiTime had a negative return on equity of 2.06% and a negative net margin of 13.13%.SiTime’s revenue for the quarter was up 66.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.48 EPS. On average, analysts expect that SiTime will post 1.31 EPS for the current year.

Insider Buying and Selling

In other news, Director Akira Takata sold 3,500 shares of the stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $431.73, for a total value of $1,511,055.00. Following the transaction, the director owned 13,734 shares in the company, valued at approximately $5,929,379.82. This represents a 20.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Raman Chitkara sold 501 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $425.03, for a total value of $212,940.03. Following the completion of the transaction, the director owned 21,508 shares in the company, valued at approximately $9,141,545.24. The trade was a 2.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 26,178 shares of company stock worth $11,282,324 over the last ninety days. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Los Angeles Capital Management LLC increased its holdings in shares of SiTime by 0.3% in the 4th quarter. Los Angeles Capital Management LLC now owns 9,023 shares of the company’s stock valued at $3,187,000 after acquiring an additional 25 shares during the last quarter. Optiver Holding B.V. grew its stake in SiTime by 56.1% during the 3rd quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock worth $27,000 after buying an additional 32 shares during the last quarter. Atlas Brown Inc. grew its stake in SiTime by 1.6% during the 4th quarter. Atlas Brown Inc. now owns 2,292 shares of the company’s stock worth $810,000 after buying an additional 37 shares during the last quarter. CWM LLC grew its stake in SiTime by 4.2% during the 4th quarter. CWM LLC now owns 951 shares of the company’s stock worth $336,000 after buying an additional 38 shares during the last quarter. Finally, Corient Private Wealth LLC grew its stake in 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 buying an additional 39 shares during the last quarter. 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.