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

Shares of SiTime Co. (NASDAQ:SITM) have been given a consensus recommendation of “Moderate Buy” by the six brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $140.00.

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $130.00 price objective on shares of SiTime in a research report on Tuesday, June 25th.

Insider Buying and Selling at SiTime

In other SiTime news, insider Lionel Bonnot sold 781 shares of SiTime stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $117.08, for a total transaction of $91,439.48. Following the completion of the sale, the insider now directly owns 98,299 shares of the company’s stock, valued at approximately $11,508,846.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Fariborz Assaderaghi sold 1,083 shares of the stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $121.61, for a total value of $131,703.63. Following the transaction, the insider now directly owns 104,186 shares of the company’s stock, valued at approximately $12,670,059.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Lionel Bonnot sold 781 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $117.08, for a total transaction of $91,439.48. Following the completion of the sale, the insider now directly owns 98,299 shares of the company’s stock, valued at $11,508,846.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,151 shares of company stock valued at $4,845,692. Insiders own 2.30% of the company’s stock.

Institutional Trading of SiTime

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Yousif Capital Management LLC boosted its stake in SiTime by 1.1% during the 4th quarter. Yousif Capital Management LLC now owns 8,554 shares of the company’s stock worth $1,044,000 after purchasing an additional 95 shares during the period. American International Group Inc. boosted its stake in shares of SiTime by 1.2% during the first quarter. American International Group Inc. now owns 9,566 shares of the company’s stock worth $892,000 after buying an additional 110 shares during the period. Nemes Rush Group LLC grew its holdings in shares of SiTime by 26.9% during the fourth quarter. Nemes Rush Group LLC now owns 542 shares of the company’s stock worth $66,000 after buying an additional 115 shares during the last quarter. Pursue Wealth Partners LLC increased its position in SiTime by 0.6% in the 4th quarter. Pursue Wealth Partners LLC now owns 22,618 shares of the company’s stock valued at $2,761,000 after acquiring an additional 139 shares during the period. Finally, Quadrant Capital Group LLC raised its stake in SiTime by 78.2% during the 4th quarter. Quadrant Capital Group LLC now owns 335 shares of the company’s stock valued at $41,000 after acquiring an additional 147 shares during the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.

SiTime Price Performance

Shares of SiTime stock opened at $128.24 on Friday. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of -31.05 and a beta of 1.82. The business has a 50-day moving average of $116.31 and a 200 day moving average of $107.90. SiTime has a 12 month low of $72.39 and a 12 month high of $141.99.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($1.04) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.17). SiTime had a negative net margin of 66.88% and a negative return on equity of 11.29%. The business had revenue of $33.02 million during the quarter, compared to analysts’ expectations of $32.02 million. Equities research analysts anticipate that SiTime will post -2.66 earnings per share for the current year.

SiTime Company Profile

SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, Singapore, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. It serves various markets, including communications, datacenter, enterprise, automotive, industrial, internet of things, mobile, consumer, and aerospace and defense.