SiTime Corporation (NASDAQ:SITM) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of SiTime Corporation (NASDAQ:SITM) have been given an average rating of “Moderate Buy” by the ten ratings firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $661.8750.

A number of brokerages recently weighed in on SITM. Needham & Company LLC upped their price objective on SiTime from $450.00 to $850.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Roth Capital reissued a “buy” rating and issued a $900.00 target price on shares of SiTime in a report on Thursday, May 7th. Weiss Ratings restated a “sell (d-)” rating on shares of SiTime in a research report on Tuesday, April 21st. Wall Street Zen raised shares of SiTime from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $800.00 price target on shares of SiTime in a report on Thursday, May 7th.

SiTime Stock Down 3.0%

NASDAQ:SITM traded down $19.21 during trading hours on Friday, reaching $628.94. 245,031 shares of the company’s stock were exchanged, compared to its average volume of 643,541. The firm has a market capitalization of $16.60 billion, a price-to-earnings ratio of -622.71 and a beta of 2.91. The company has a 50-day moving average of $703.16 and a 200 day moving average of $498.91. SiTime has a 1-year low of $186.49 and a 1-year high of $901.81.

SiTime (NASDAQ:SITM) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.30. The firm had revenue of $113.57 million for the quarter, compared to analysts’ expectations of $103.51 million. SiTime had a positive return on equity of 0.53% and a negative net margin of 6.38%.The firm’s revenue for the quarter was up 88.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.26 EPS. Research analysts forecast that SiTime will post 3.23 EPS for the current fiscal year.

Insider Activity at SiTime

In other SiTime news, insider Fariborz Assaderaghi sold 1,709 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $731.49, for a total value of $1,250,116.41. Following the completion of the transaction, the insider directly owned 81,436 shares of the company’s stock, valued at approximately $59,569,619.64. This trade represents a 2.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Akira Takata sold 1,500 shares of SiTime stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $860.86, for a total transaction of $1,291,290.00. Following the sale, the director owned 12,234 shares of the company’s stock, valued at approximately $10,531,761.24. The trade was a 10.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 72,128 shares of company stock valued at $51,401,463 in the last ninety days. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On SiTime

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC grew its holdings in SiTime by 26.2% in the first quarter. Parallel Advisors LLC now owns 77 shares of the company’s stock valued at $27,000 after purchasing an additional 16 shares during the last quarter. Los Angeles Capital Management LLC boosted its position 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 worth $3,187,000 after buying an additional 25 shares in the last quarter. Atlas Brown Inc. boosted its position in shares of SiTime by 1.6% in 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 in the last quarter. CWM LLC grew its stake in SiTime by 4.2% in the 4th quarter. CWM LLC now owns 951 shares of the company’s stock valued at $336,000 after acquiring an additional 38 shares during the last quarter. Finally, Corient Private Wealth LLC grew its stake in SiTime by 5.9% in the 4th quarter. Corient Private Wealth LLC now owns 703 shares of the company’s stock valued at $249,000 after acquiring an additional 39 shares during the last quarter. 84.31% of the stock is owned by institutional investors and hedge funds.

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.