SiTime Corporation (NASDAQ:SITM) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of SiTime Corporation (NASDAQ:SITM) have earned a consensus recommendation of “Moderate Buy” from the ten analysts that are currently covering the firm, MarketBeat Ratings 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 target price among analysts 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. Zacks Research raised SiTime from a “hold” rating to a “strong-buy” rating in a report on Friday, May 15th. Barclays raised SiTime from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $400.00 to $850.00 in a report on Thursday, May 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of SiTime in a report on Tuesday, April 21st. UBS Group boosted their price objective on SiTime from $675.00 to $775.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Wall Street Zen upgraded SiTime from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th.

Insider Buying and Selling

In related news, insider Fariborz Assaderaghi sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $702.90, for a total value of $702,900.00. Following the completion of the sale, the insider owned 78,936 shares in the company, valued at $55,484,114.40. The trade was a 1.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Torsten Kreindl sold 710 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $720.00, for a total value of $511,200.00. Following the completion of the sale, the director owned 13,141 shares of the company’s stock, valued at $9,461,520. The trade was a 5.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 74,624 shares of company stock worth $52,399,813 over the last ninety days. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of SiTime

A number of hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC lifted its position in SiTime by 26.2% in the 1st quarter. Parallel Advisors LLC now owns 77 shares of the company’s stock worth $27,000 after buying an additional 16 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in SiTime by 0.3% in the fourth quarter. Los Angeles Capital Management LLC now owns 9,023 shares of the company’s stock valued at $3,187,000 after purchasing an additional 25 shares during the last quarter. Optiver Holding B.V. lifted its position in SiTime by 56.1% in the third quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock valued at $27,000 after purchasing an additional 32 shares during the last quarter. Atlas Brown Inc. lifted its position in SiTime by 1.6% in the fourth quarter. Atlas Brown Inc. now owns 2,292 shares of the company’s stock valued at $810,000 after purchasing an additional 37 shares during the last quarter. Finally, CWM LLC lifted its position in SiTime by 4.2% in the fourth quarter. CWM LLC now owns 951 shares of the company’s stock valued at $336,000 after purchasing an additional 38 shares during the last quarter. Institutional investors own 84.31% of the company’s stock.

SiTime Stock Down 7.8%

SITM stock opened at $684.86 on Wednesday. The firm has a market capitalization of $18.08 billion, a PE ratio of -678.08 and a beta of 2.94. SiTime has a twelve month low of $186.49 and a twelve month high of $901.81. The stock has a 50-day simple moving average of $632.70 and a two-hundred day simple moving average of $458.76.

SiTime (NASDAQ:SITM) last issued its quarterly earnings data 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 positive return on equity of 0.53% and a negative net margin of 6.38%.The company had revenue of $113.57 million during the quarter, compared to analyst estimates of $103.51 million. During the same quarter in the previous year, the firm earned $0.26 earnings per share. SiTime’s revenue was up 88.3% on a year-over-year basis. On average, equities research analysts anticipate that SiTime will post 3.23 EPS for the current fiscal year.

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.