SiTime Corporation (NASDAQ:SITM) Receives $240.00 Consensus PT from Brokerages

SiTime Corporation (NASDAQ:SITM) has been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $240.00.

A number of brokerages have recently commented on SITM. Stifel Nicolaus upped their price target on SiTime from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, July 18th. Barclays upped their price target on SiTime from $180.00 to $220.00 and gave the company an “underweight” rating in a research report on Thursday, August 7th. Finally, UBS Group assumed coverage on SiTime in a report on Thursday. They set a “buy” rating and a $260.00 price objective on the stock.

Insider Buying and Selling at SiTime

In other SiTime news, insider Piyush B. Sevalia sold 1,039 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $220.00, for a total value of $228,580.00. Following the sale, the insider owned 85,516 shares of the company’s stock, valued at $18,813,520. This trade represents a 1.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Samsheer Ahamad sold 4,000 shares of the firm’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $200.00, for a total value of $800,000.00. Following the completion of the sale, the insider directly owned 72,021 shares in the company, valued at approximately $14,404,200. The trade was a 5.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,783 shares of company stock worth $9,708,517 in the last three months. 2.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SiTime

Several institutional investors and hedge funds have recently bought and sold shares of SITM. Game Plan Financial Advisors LLC purchased a new position in SiTime during the second quarter valued at $25,000. Fourth Dimension Wealth LLC bought a new stake in shares of SiTime in the fourth quarter worth $25,000. Opal Wealth Advisors LLC bought a new stake in shares of SiTime in the first quarter worth $32,000. Advisors Asset Management Inc. grew its holdings in shares of SiTime by 33.6% in the first quarter. Advisors Asset Management Inc. now owns 350 shares of the company’s stock worth $54,000 after acquiring an additional 88 shares during the period. Finally, Lazard Asset Management LLC bought a new stake in shares of SiTime in the fourth quarter worth $81,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.

SiTime Price Performance

Shares of NASDAQ SITM opened at $221.44 on Thursday. SiTime has a one year low of $105.40 and a one year high of $268.18. The business’s fifty day moving average price is $209.73 and its 200-day moving average price is $184.15. The stock has a market capitalization of $5.76 billion, a PE ratio of -63.63 and a beta of 2.20.

SiTime (NASDAQ:SITM) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.18. SiTime had a negative return on equity of 7.54% and a negative net margin of 32.15%. The firm had revenue of $69.49 million for the quarter, compared to analysts’ expectations of $64.66 million. During the same quarter in the prior year, the firm earned $0.12 EPS. The business’s revenue for the quarter was up 58.3% compared to the same quarter last year. As a group, equities analysts expect that SiTime will post -2.44 EPS for the current fiscal 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.