Analysts Set SiTime Corporation (NASDAQ:SITM) Target Price at $409.38

Shares of SiTime Corporation (NASDAQ:SITM) have been given a consensus recommendation of “Moderate Buy” by the nine analysts that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $409.3750.

SITM has been the topic of a number of research reports. Stifel Nicolaus set a $450.00 price target on SiTime in a research note on Thursday, February 5th. Barclays set a $400.00 target price on SiTime in a report on Thursday, February 5th. Wall Street Zen raised SiTime from a “hold” rating to a “buy” rating in a research report on Sunday, March 22nd. Needham & Company LLC boosted their price target on SiTime from $400.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Finally, UBS Group upped their price target on shares of SiTime from $430.00 to $485.00 and gave the company a “buy” rating in a research report on Thursday, February 5th.

Insider Activity at SiTime

In other SiTime news, insider Fariborz Assaderaghi sold 4,984 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $406.45, for a total transaction of $2,025,746.80. Following the completion of the sale, the insider directly owned 89,194 shares of the company’s stock, valued at approximately $36,252,901.30. This represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Akira Takata sold 3,500 shares of the stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $431.73, for a total transaction of $1,511,055.00. Following the completion of the transaction, the director owned 13,734 shares in the company, valued at $5,929,379.82. The trade was a 20.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 22,512 shares of company stock valued at $9,581,432 in the last three months. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On SiTime

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rakuten Securities Inc. increased its position in SiTime by 188.5% in the fourth quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock worth $26,000 after buying an additional 49 shares in the last quarter. Hantz Financial Services Inc. lifted its position in shares of SiTime by 190.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 90 shares of the company’s stock valued at $27,000 after buying an additional 59 shares in the last quarter. Optiver Holding B.V. grew its stake in shares of SiTime by 56.1% during the 3rd quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock valued at $27,000 after acquiring an additional 32 shares during the period. Larson Financial Group LLC grew its stake in shares of SiTime by 3,200.0% during the 3rd quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock valued at $30,000 after acquiring an additional 96 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in SiTime in the 4th quarter worth approximately $33,000. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

SiTime Price Performance

SITM opened at $347.05 on Friday. The stock has a market capitalization of $9.13 billion, a price-to-earnings ratio of -190.69 and a beta of 2.57. The firm has a 50 day moving average price of $372.62 and a 200-day moving average price of $338.38. SiTime has a twelve month low of $105.40 and a twelve month high of $446.95.

SiTime (NASDAQ:SITM) last issued its earnings results on Wednesday, February 4th. The company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.33. The company had revenue of $113.29 million for the quarter, compared to analysts’ expectations of $101.91 million. SiTime had a negative net margin of 13.13% and a negative return on equity of 2.06%. The firm’s quarterly revenue was up 66.3% on a year-over-year basis. During the same quarter last year, the company posted $0.48 earnings per share. As a group, analysts expect 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.