SiTime (NASDAQ:SITM) Research Coverage Started at UBS Group

UBS Group assumed coverage on shares of SiTime (NASDAQ:SITM) in a report published on Thursday, Marketbeat Ratings reports. The firm issued a buy rating and a $260.00 price objective on the stock.

SITM has been the subject of several other reports. Stifel Nicolaus boosted their target price on SiTime from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Barclays boosted their target price on SiTime from $180.00 to $220.00 and gave the stock an “underweight” rating in a report on Thursday, August 7th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat.com, SiTime currently has an average rating of “Moderate Buy” and a consensus target price of $240.00.

SiTime Price Performance

Shares of SiTime stock opened at $221.44 on Thursday. The firm has a market cap of $5.76 billion, a price-to-earnings ratio of -63.63 and a beta of 2.20. SiTime has a 52-week low of $105.40 and a 52-week high of $268.18. The stock has a 50-day simple moving average of $209.73 and a 200-day simple moving average of $184.15.

SiTime (NASDAQ:SITM) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $69.49 million during the quarter, compared to analyst estimates of $64.66 million. During the same period in the previous year, the company earned $0.12 EPS. The firm’s revenue was up 58.3% on a year-over-year basis. As a group, equities research analysts predict that SiTime will post -2.44 earnings per share for the current year.

Insider Buying and Selling

In other SiTime news, insider Samsheer Ahamad sold 7,728 shares of SiTime stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $207.41, for a total value of $1,602,864.48. Following the transaction, the insider directly owned 78,095 shares of the company’s stock, valued at $16,197,683.95. The trade was a 9.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Tom Dang-Hsing Yiu sold 2,115 shares of SiTime stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $200.00, for a total value of $423,000.00. Following the completion of the transaction, the director directly owned 18,500 shares in the company, valued at approximately $3,700,000. This represents a 10.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,783 shares of company stock worth $9,708,517. 2.10% of the stock is currently owned by company insiders.

Institutional Trading of SiTime

A number of institutional investors and hedge funds have recently modified their holdings of SITM. Invesco Ltd. grew its position in SiTime by 4.8% in the second quarter. Invesco Ltd. now owns 1,019,140 shares of the company’s stock valued at $217,158,000 after acquiring an additional 46,721 shares during the period. State Street Corp grew its position in SiTime by 3.7% in the second quarter. State Street Corp now owns 911,280 shares of the company’s stock valued at $194,176,000 after acquiring an additional 32,178 shares during the period. Ameriprise Financial Inc. grew its position in SiTime by 22.0% in the second quarter. Ameriprise Financial Inc. now owns 736,281 shares of the company’s stock valued at $156,887,000 after acquiring an additional 132,948 shares during the period. Geode Capital Management LLC grew its position in SiTime by 11.2% in the second quarter. Geode Capital Management LLC now owns 506,400 shares of the company’s stock valued at $107,918,000 after acquiring an additional 51,063 shares during the period. Finally, Alliancebernstein L.P. grew its position in SiTime by 1.1% in the second quarter. Alliancebernstein L.P. now owns 448,036 shares of the company’s stock valued at $95,468,000 after acquiring an additional 4,809 shares during the period. 84.31% of the stock is currently owned by institutional investors.

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.