William Blair assumed coverage on shares of Sitime (NASDAQ:SITM) in a research note published on Tuesday morning, BenzingaRatingsTable reports. The brokerage issued an outperform rating on the stock.
SITM has been the subject of several other research reports. Raymond James lifted their price target on Sitime from $25.00 to $42.00 and gave the stock an outperform rating in a research report on Tuesday, June 16th. Stifel Nicolaus dropped their target price on Sitime from $28.00 to $26.00 and set a buy rating for the company in a report on Thursday, April 16th. Roth Capital increased their price target on Sitime from $40.00 to $50.00 and gave the company a buy rating in a report on Tuesday, June 16th. Needham & Company LLC lifted their price objective on shares of Sitime from $27.00 to $40.00 and gave the stock a buy rating in a research note on Monday, June 15th. Finally, BTIG Research reduced their target price on shares of Sitime from $11.00 to $6.00 and set a buy rating on the stock in a research note on Thursday, April 9th. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $35.67.
NASDAQ SITM opened at $47.41 on Tuesday. The stock has a 50 day moving average price of $35.42 and a 200-day moving average price of $26.34. Sitime has a one year low of $15.42 and a one year high of $50.43. The company has a market capitalization of $758.00 million and a P/E ratio of -75.25.
Sitime (NASDAQ:SITM) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.14) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.36) by $0.22. The business had revenue of $21.74 million for the quarter, compared to the consensus estimate of $20.47 million. On average, equities analysts expect that Sitime will post -1.02 EPS for the current fiscal year.
In other Sitime news, insider Lionel Bonnot sold 1,678 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $35.00, for a total transaction of $58,730.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Piyush B. Sevalia sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $31.08, for a total transaction of $93,240.00. The disclosure for this sale can be found here. Insiders have sold 2,510,378 shares of company stock valued at $80,319,550 over the last three months. Insiders own 0.80% of the company’s stock.
A number of hedge funds have recently modified their holdings of SITM. FMR LLC bought a new position in Sitime in the fourth quarter worth approximately $7,902,000. Citigroup Inc. lifted its stake in shares of Sitime by 424.5% during the 1st quarter. Citigroup Inc. now owns 1,390 shares of the company’s stock worth $30,000 after purchasing an additional 1,125 shares during the last quarter. Millrace Asset Group Inc. purchased a new stake in shares of Sitime during the 4th quarter worth $1,660,000. American International Group Inc. purchased a new position in Sitime in the first quarter valued at about $63,000. Finally, Franklin Resources Inc. purchased a new stake in shares of Sitime during the fourth quarter valued at about $13,632,000. 31.22% of the stock is currently owned by institutional investors.
Sitime Company Profile
There is no company description available for SiTime Corp.
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