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

Shares of SiTime Corporation (NASDAQ:SITM) have earned a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $415.6250.

Several equities analysts recently issued reports on SITM shares. Weiss Ratings reissued a “sell (d-)” rating on shares of SiTime in a research note on Tuesday, April 21st. Barclays set a $400.00 target price on SiTime in a research note on Thursday, February 5th. Wall Street Zen lowered SiTime from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. UBS Group increased their target price on SiTime from $430.00 to $485.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Finally, Needham & Company LLC increased their target price on SiTime from $400.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th.

Insider Activity

In other SiTime news, insider Samsheer Ahamad sold 9,100 shares of the company’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $441.47, for a total transaction of $4,017,377.00. Following the sale, the insider owned 52,938 shares in the company, valued at $23,370,538.86. This represents a 14.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Akira Takata sold 3,500 shares of the company’s 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 sale, the director owned 13,734 shares in the company, valued at approximately $5,929,379.82. This trade represents a 20.31% 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 in the last quarter. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On SiTime

Large investors have recently bought and sold shares of the stock. Rakuten Securities Inc. increased its holdings in SiTime by 188.5% during the 4th quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock worth $26,000 after purchasing an additional 49 shares during the period. Optiver Holding B.V. increased its holdings 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 purchasing an additional 32 shares during the period. Hantz Financial Services Inc. increased its holdings in SiTime by 190.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 90 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in SiTime during the 4th quarter worth about $33,000. Finally, Larson Financial Group LLC increased its holdings in SiTime by 3,200.0% during the 3rd quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock worth $30,000 after purchasing an additional 96 shares during the period. Hedge funds and other institutional investors own 84.31% of the company’s stock.

SiTime Stock Up 1.1%

Shares of SiTime stock opened at $564.68 on Tuesday. SiTime has a 52 week low of $158.63 and a 52 week high of $591.13. The business’s fifty day simple moving average is $406.34 and its 200-day simple moving average is $362.43. The firm has a market cap of $14.91 billion, a PE ratio of -310.26 and a beta of 2.91.

SiTime (NASDAQ:SITM) last announced its quarterly earnings results on Wednesday, February 4th. The company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.20 by $0.33. SiTime had a negative return on equity of 2.06% and a negative net margin of 13.13%.The business had revenue of $113.29 million for the quarter, compared to analyst estimates of $101.91 million. During the same quarter in the prior year, the company posted $0.48 EPS. The company’s quarterly revenue was up 66.3% on a year-over-year basis. As a group, equities analysts expect that SiTime will post 1.31 earnings per share for the current 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.