SiTime Corporation (NASDAQ:SITM) Receives $409.38 Consensus PT from Analysts

Shares of SiTime Corporation (NASDAQ:SITM) have received a consensus rating of “Moderate Buy” from the nine analysts that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $409.3750.

A number of analysts recently weighed in on SITM shares. Needham & Company LLC upped their target price on shares of SiTime from $400.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Stifel Nicolaus set a $450.00 price target on shares of SiTime in a research note on Thursday, February 5th. Loop Capital assumed coverage on shares of SiTime in a report on Friday, November 21st. They set a “buy” rating and a $350.00 price target for the company. Wall Street Zen raised shares of SiTime from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of SiTime in a report on Thursday, January 22nd.

Insider Transactions at SiTime

In other SiTime news, CEO Rajesh Vashist sold 2,000 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $369.20, for a total value of $738,400.00. Following the sale, the chief executive officer directly owned 431,609 shares in the company, valued at $159,350,042.80. This trade represents a 0.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Akira Takata sold 3,500 shares of SiTime stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $431.73, for a total value of $1,511,055.00. Following the sale, the director directly owned 13,734 shares of the company’s stock, valued at $5,929,379.82. This trade represents a 20.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 23,263 shares of company stock valued at $9,851,457 over the last ninety days. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On SiTime

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SITM. Ariose Capital Management Ltd acquired a new stake in shares of SiTime in the third quarter valued at approximately $2,974,000. Emerald Mutual Fund Advisers Trust increased its holdings in shares of SiTime by 10.6% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 98,689 shares of the company’s stock valued at $29,736,000 after acquiring an additional 9,492 shares during the period. Federated Hermes Inc. raised its position in SiTime by 25.0% in the 3rd quarter. Federated Hermes Inc. now owns 125,000 shares of the company’s stock valued at $37,664,000 after purchasing an additional 25,000 shares during the last quarter. Intech Investment Management LLC raised its position in SiTime by 241.3% in the 2nd quarter. Intech Investment Management LLC now owns 28,400 shares of the company’s stock valued at $6,051,000 after purchasing an additional 20,078 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in SiTime by 4.8% during the 2nd quarter. Invesco Ltd. now owns 1,019,140 shares of the company’s stock worth $217,158,000 after purchasing an additional 46,721 shares during the period. 84.31% of the stock is owned by institutional investors and hedge funds.

SiTime Trading Down 1.2%

SiTime stock opened at $350.93 on Monday. The firm has a market capitalization of $9.23 billion, a P/E ratio of -192.82 and a beta of 2.53. SiTime has a twelve month low of $105.40 and a twelve month high of $446.95. The stock’s fifty day simple moving average is $377.06 and its 200-day simple moving average is $326.80.

SiTime (NASDAQ:SITM) last released its earnings results on Wednesday, February 4th. The company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.33. The firm had revenue of $113.29 million during the quarter, compared to analyst estimates of $101.91 million. SiTime had a negative return on equity of 2.06% and a negative net margin of 13.13%.SiTime’s revenue was up 66.3% compared to the same quarter last year. During the same period last year, the business posted $0.48 earnings per share. Sell-side analysts predict that SiTime will post -2.44 earnings per share for the current year.

About SiTime

SiTime Corporation is a fabless semiconductor company specializing in silicon timing solutions that leverage micro-electromechanical systems (MEMS) technology as an alternative to traditional quartz crystals. Its portfolio of programmable oscillators, resonators, clock generators, jitter attenuators and network synchronizers addresses precision timekeeping requirements across a wide range of electronic systems. By integrating MEMS resonators with advanced mixed-signal control circuitry, SiTime’s products offer enhanced reliability, resistance to shock and vibration, and a smaller footprint compared with conventional quartz devices.

The company’s timing devices serve diverse end markets, including telecommunications infrastructure, data center and enterprise networking, consumer electronics, automotive systems, industrial automation, and aerospace and defense applications.