SiTime Corporation (NASDAQ:SITM) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of SiTime Corporation (NASDAQ:SITM) have received a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $240.00.

A number of brokerages have recently commented on SITM. Barclays boosted their target price on shares of SiTime from $180.00 to $220.00 and gave the company an “underweight” rating in a report on Thursday, August 7th. Stifel Nicolaus lifted their price target on SiTime from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Finally, UBS Group assumed coverage on SiTime in a research report on Thursday, August 14th. They issued a “buy” rating and a $260.00 price target for the company.

Insider Transactions at SiTime

In other SiTime news, insider Fariborz Assaderaghi sold 1,000 shares of the business’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $201.36, for a total value of $201,360.00. Following the completion of the transaction, the insider owned 101,319 shares of the company’s stock, valued at approximately $20,401,593.84. The trade was a 0.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Piyush B. Sevalia sold 1,661 shares of the business’s stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $193.99, for a total value of $322,217.39. Following the completion of the transaction, the insider directly owned 87,216 shares of the company’s stock, valued at approximately $16,919,031.84. This trade represents a 1.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,861 shares of company stock worth $5,006,357 over the last quarter. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On SiTime

A number of hedge funds have recently bought and sold shares of SITM. Fourth Dimension Wealth LLC bought a new stake in shares of SiTime during the 4th quarter valued at about $25,000. Game Plan Financial Advisors LLC purchased a new position in shares of SiTime in the second quarter worth approximately $25,000. Opal Wealth Advisors LLC bought a new stake in SiTime during the first quarter valued at approximately $32,000. Advisors Asset Management Inc. grew its position in SiTime by 33.6% during the first quarter. Advisors Asset Management Inc. now owns 350 shares of the company’s stock valued at $54,000 after buying an additional 88 shares during the period. Finally, State of Wyoming purchased a new stake in SiTime during the second quarter valued at approximately $58,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.

SiTime Trading Up 4.2%

Shares of SITM stock opened at $221.60 on Thursday. SiTime has a 12 month low of $105.40 and a 12 month high of $268.18. The stock has a market cap of $5.76 billion, a PE ratio of -63.68 and a beta of 2.20. The company’s fifty day moving average price is $210.07 and its 200-day moving average price is $184.63.

SiTime (NASDAQ:SITM) last announced its 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 net margin of 32.15% and a negative return on equity of 7.54%. 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 previous year, the business posted $0.12 EPS. The company’s quarterly revenue was up 58.3% on a year-over-year basis. On average, sell-side analysts forecast that SiTime will post -2.44 earnings per share for the current fiscal year.

About SiTime

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.