SiTime (NASDAQ:SITM) Lowered to D at TheStreet

SiTime (NASDAQ:SITMGet Rating) was downgraded by stock analysts at TheStreet from a “c-” rating to a “d” rating in a note issued to investors on Wednesday, TheStreetRatingsTable reports.

A number of other equities analysts have also weighed in on the stock. Zacks Investment Research raised shares of SiTime from a “sell” rating to a “hold” rating in a research report on Wednesday, February 9th. Needham & Company LLC lowered their price objective on shares of SiTime from $330.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, February 3rd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $301.83.

NASDAQ:SITM opened at $176.74 on Wednesday. The company’s 50 day moving average is $203.38 and its two-hundred day moving average is $233.56. The company has a market cap of $3.72 billion, a PE ratio of 121.06, a P/E/G ratio of 5.65 and a beta of 1.17. SiTime has a twelve month low of $75.81 and a twelve month high of $341.77.

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

In other SiTime news, CEO Rajesh Vashist sold 5,000 shares of the stock in a transaction on Wednesday, April 20th. The stock was sold at an average price of $180.89, for a total transaction of $904,450.00. Following the transaction, the chief executive officer now owns 613,300 shares in the company, valued at approximately $110,939,837. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Arthur D. Chadwick sold 4,311 shares of the firm’s stock in a transaction on Tuesday, February 22nd. The stock was sold at an average price of $182.15, for a total value of $785,248.65. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,014 shares of company stock valued at $8,728,801. 0.80% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Arizona State Retirement System increased its holdings in SiTime by 1.2% in the third quarter. Arizona State Retirement System now owns 3,336 shares of the company’s stock worth $681,000 after purchasing an additional 41 shares in the last quarter. Metropolitan Life Insurance Co NY increased its position in shares of SiTime by 1.3% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 3,501 shares of the company’s stock valued at $715,000 after purchasing an additional 45 shares during the last quarter. Arlington Capital Management Inc. increased its holdings in SiTime by 3.3% in the 1st quarter. Arlington Capital Management Inc. now owns 1,780 shares of the company’s stock worth $441,000 after acquiring an additional 57 shares during the last quarter. Renaissance Group LLC increased its holdings in SiTime by 0.6% in the 3rd quarter. Renaissance Group LLC now owns 12,080 shares of the company’s stock worth $2,466,000 after acquiring an additional 72 shares during the last quarter. Finally, Voya Investment Management LLC boosted its stake in SiTime by 1.5% in the 3rd quarter. Voya Investment Management LLC now owns 5,041 shares of the company’s stock worth $1,029,000 after purchasing an additional 76 shares during the period. 62.79% of the stock is currently owned by hedge funds and other 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.

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Analyst Recommendations for SiTime (NASDAQ:SITM)

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