SiTime Corporation (NASDAQ:SITM) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of SiTime Corporation (NASDAQ:SITM) have been given an average rating of “Moderate Buy” by the nine analysts that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $343.1250.

A number of equities research analysts have commented on the company. Roth Capital reiterated a “buy” rating and issued a $350.00 price target on shares of SiTime in a research note on Thursday, November 6th. Barclays upped their price objective on shares of SiTime from $220.00 to $260.00 and gave the company an “underweight” rating in a report on Thursday, November 6th. Loop Capital initiated coverage on shares of SiTime in a research note on Friday, November 21st. They issued a “buy” rating and a $350.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of SiTime in a research report on Wednesday, October 8th. Finally, Needham & Company LLC raised their price target on shares of SiTime from $250.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, November 6th.

Insider Transactions at SiTime

In other SiTime news, EVP Elizabeth A. Howe sold 5,099 shares of SiTime stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $319.00, for a total transaction of $1,626,581.00. Following the completion of the sale, the executive vice president owned 59,070 shares of the company’s stock, valued at approximately $18,843,330. The trade was a 7.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Fariborz Assaderaghi sold 1,500 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $291.58, for a total value of $437,370.00. Following the completion of the transaction, the insider directly owned 84,815 shares in the company, valued at $24,730,357.70. This represents a 1.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 26,599 shares of company stock worth $8,267,891. Insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On SiTime

A number of institutional investors have recently bought and sold shares of the business. Optiver Holding B.V. increased its stake in shares of SiTime by 56.1% in the third quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock worth $27,000 after acquiring an additional 32 shares during the period. Verdence Capital Advisors LLC boosted its holdings in SiTime by 3.7% in the third quarter. Verdence Capital Advisors LLC now owns 1,118 shares of the company’s stock valued at $309,000 after purchasing an additional 40 shares during the last quarter. Bessemer Group Inc. grew its position in SiTime by 27.4% during the 3rd quarter. Bessemer Group Inc. now owns 186 shares of the company’s stock worth $55,000 after purchasing an additional 40 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of SiTime by 10.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 427 shares of the company’s stock valued at $125,000 after buying an additional 42 shares during the last quarter. Finally, Lazard Asset Management LLC raised its stake in shares of SiTime by 7.7% during the 2nd quarter. Lazard Asset Management LLC now owns 654 shares of the company’s stock valued at $139,000 after buying an additional 47 shares during the last quarter. 84.31% of the stock is owned by hedge funds and other institutional investors.

SiTime Stock Up 1.4%

NASDAQ:SITM opened at $381.83 on Wednesday. The stock has a market capitalization of $9.97 billion, a price-to-earnings ratio of -129.00 and a beta of 2.55. SiTime has a 52 week low of $105.40 and a 52 week high of $387.52. The firm has a 50 day moving average of $309.49 and a 200 day moving average of $262.49.

SiTime (NASDAQ:SITM) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.16. The business had revenue of $83.57 million for the quarter, compared to the consensus estimate of $78.08 million. SiTime had a negative return on equity of 5.69% and a negative net margin of 25.18%.The business’s quarterly revenue was up 44.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.40 earnings per share. As a group, analysts expect that SiTime will post -2.44 EPS 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.