SiTime Co. (NASDAQ:SITM) Receives $306.00 Consensus PT from Brokerages

Shares of SiTime Co. (NASDAQ:SITMGet Rating) have earned an average rating of “Buy” from the seven brokerages that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $306.00.

Several analysts have issued reports on SITM shares. Zacks Investment Research upgraded shares of SiTime from a “sell” rating to a “hold” rating in a research report on Wednesday, February 9th. Needham & Company LLC cut their price target on shares of SiTime from $330.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, February 3rd.

Shares of NASDAQ:SITM opened at $190.49 on Monday. SiTime has a 52-week low of $75.81 and a 52-week high of $341.77. The firm has a fifty day moving average of $209.39 and a 200 day moving average of $236.88. The firm has a market capitalization of $3.97 billion, a PE ratio of 130.47, a price-to-earnings-growth ratio of 6.41 and a beta of 1.17.

SiTime (NASDAQ:SITMGet Rating) last posted its quarterly earnings results on Wednesday, February 2nd. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.18. SiTime had a net margin of 14.75% and a return on equity of 8.29%. The business had revenue of $75.70 million during the quarter, compared to analyst estimates of $71.00 million. During the same period in the prior year, the business posted $0.10 earnings per share. The company’s revenue was up 87.8% on a year-over-year basis. Equities analysts predict that SiTime will post 1.98 earnings per share for the current fiscal year.

In other news, CEO Rajesh Vashist sold 5,000 shares of the company’s stock in a transaction dated Wednesday, January 19th. The shares were sold at an average price of $225.18, for a total transaction of $1,125,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vincent P. Pangrazio sold 250 shares of the company’s stock in a transaction dated Tuesday, January 18th. The shares were sold at an average price of $234.73, for a total transaction of $58,682.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,264 shares of company stock valued at $9,008,934. Insiders own 1.10% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in SiTime in the fourth quarter worth about $3,627,000. BlackRock Inc. raised its stake in SiTime by 95.8% in the fourth quarter. BlackRock Inc. now owns 1,683,752 shares of the company’s stock worth $492,563,000 after buying an additional 823,952 shares in the last quarter. Wells Fargo & Company MN raised its stake in SiTime by 63.6% in the fourth quarter. Wells Fargo & Company MN now owns 19,992 shares of the company’s stock worth $5,848,000 after buying an additional 7,769 shares in the last quarter. Comerica Bank bought a new position in SiTime in the fourth quarter worth about $1,334,000. Finally, Goldman Sachs Group Inc. grew its holdings in SiTime by 182.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 86,366 shares of the company’s stock worth $25,266,000 after purchasing an additional 55,791 shares during the period. 62.79% of the stock is owned by institutional investors.

SiTime Company Profile (Get Rating)

SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. Its solutions have applications in various markets, including communications and enterprise, automotive, industrial, Internet of Things, mobile, consumer, and aerospace and defense.

Further Reading

Analyst Recommendations for SiTime (NASDAQ:SITM)

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