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

Shares of SiTime Corporation (NASDAQ:SITM) have earned a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $409.3750.

A number of brokerages have recently commented on SITM. Raymond James Financial reiterated an “outperform” rating on shares of SiTime in a report on Tuesday, December 2nd. Barclays set a $400.00 price target on SiTime in a report on Thursday, February 5th. Stifel Nicolaus set a $450.00 price objective on SiTime in a report on Thursday, February 5th. Wall Street Zen upgraded SiTime from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Finally, Loop Capital began coverage on SiTime in a research report on Friday, November 21st. They issued a “buy” rating and a $350.00 target price for the company.

SiTime Stock Down 0.8%

Shares of SITM stock opened at $410.72 on Thursday. SiTime has a 12 month low of $105.40 and a 12 month high of $446.95. The company has a market cap of $10.80 billion, a PE ratio of -225.67 and a beta of 2.51. The business’s 50 day moving average is $371.83 and its two-hundred day moving average is $308.79.

SiTime (NASDAQ:SITM) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.33. The business had revenue of $113.29 million during the quarter, compared to analysts’ expectations of $101.91 million. SiTime had a negative net margin of 13.13% and a negative return on equity of 2.06%. SiTime’s revenue for the quarter was up 66.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.48 earnings per share. As a group, equities analysts expect that SiTime will post -2.44 EPS for the current fiscal year.

Insider Buying and Selling at SiTime

In other SiTime news, CEO Rajesh Vashist sold 2,000 shares of the firm’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $369.20, for a total transaction of $738,400.00. Following the completion of the transaction, the chief executive officer owned 431,609 shares in the company, valued at $159,350,042.80. This trade represents a 0.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Akira Takata sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $431.73, for a total value of $1,511,055.00. Following the completion of the sale, the director owned 13,734 shares in the company, valued at approximately $5,929,379.82. This represents a 20.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 24,712 shares of company stock worth $9,562,777. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Rakuten Securities Inc. grew its holdings in shares of SiTime by 188.5% during the fourth quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock worth $26,000 after purchasing an additional 49 shares during the last quarter. Hantz Financial Services Inc. grew its stake in shares of SiTime by 190.3% during the third quarter. Hantz Financial Services Inc. now owns 90 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the last quarter. Optiver Holding B.V. raised its position in SiTime by 56.1% in the 3rd quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock worth $27,000 after purchasing an additional 32 shares during the last quarter. Larson Financial Group LLC boosted its position in SiTime by 3,200.0% in the 3rd quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock valued at $30,000 after buying an additional 96 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of SiTime during the fourth quarter valued at $33,000. Institutional investors 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.