SiTime Co. (NASDAQ:SITM) Given Average Rating of “Moderate Buy” by Analysts

SiTime Co. (NASDAQ:SITM) has been assigned a consensus recommendation of “Moderate Buy” from the five brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $142.00.

SITM has been the topic of a number of analyst reports. Barclays increased their price objective on shares of SiTime from $110.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 16th. Needham & Company LLC upgraded shares of SiTime from a “hold” rating to a “buy” rating and set a $130.00 price target on the stock in a research report on Thursday.

Insider Activity at SiTime

In other news, insider Fariborz Assaderaghi sold 1,288 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $90.57, for a total transaction of $116,654.16. Following the completion of the transaction, the insider now directly owns 111,491 shares in the company, valued at $10,097,739.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 3,602 shares of company stock valued at $319,899. 2.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Jennison Associates LLC lifted its holdings in SiTime by 19.8% during the 4th quarter. Jennison Associates LLC now owns 173,770 shares of the company’s stock worth $21,214,000 after buying an additional 28,739 shares during the period. Vanguard Group Inc. lifted its position in shares of SiTime by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 2,066,610 shares of the company’s stock valued at $236,110,000 after acquiring an additional 58,629 shares during the period. Principal Financial Group Inc. boosted its stake in SiTime by 4.7% during the third quarter. Principal Financial Group Inc. now owns 358,017 shares of the company’s stock worth $40,903,000 after acquiring an additional 16,092 shares in the last quarter. Amica Mutual Insurance Co. grew its holdings in SiTime by 478.9% in the third quarter. Amica Mutual Insurance Co. now owns 5,175 shares of the company’s stock worth $591,000 after purchasing an additional 4,281 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in SiTime by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 132,745 shares of the company’s stock valued at $15,166,000 after purchasing an additional 7,049 shares in the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.

SiTime Trading Up 6.3 %

NASDAQ SITM opened at $103.00 on Thursday. The company has a market cap of $2.36 billion, a price-to-earnings ratio of -26.70 and a beta of 1.78. SiTime has a 1-year low of $72.39 and a 1-year high of $141.99. The company has a 50 day moving average of $88.06 and a 200-day moving average of $104.18.

SiTime (NASDAQ:SITM) last released its earnings results on Tuesday, February 13th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.01). SiTime had a negative net margin of 55.93% and a negative return on equity of 10.21%. The company had revenue of $42.40 million for the quarter, compared to the consensus estimate of $41.65 million. On average, equities research analysts forecast that SiTime will post -2.3 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.