SiTime Corporation (NASDAQ:SITM) Receives Consensus Recommendation of “Moderate Buy” from Analysts

by · The Cerbat Gem

Shares of SiTime Corporation (NASDAQ:SITM – Get Free Report) have been given a consensus rating of “Moderate Buy” by the eight brokerages that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $332.1429.

A number of research firms recently commented on SITM. Roth Capital reaffirmed a “buy” rating and issued a $350.00 price objective on shares of SiTime in a research note on Thursday, November 6th. UBS Group lifted their target price on shares of SiTime from $355.00 to $375.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Loop Capital began coverage on shares of SiTime in a research note on Friday, November 21st. They issued a “buy” rating and a $350.00 price target on the stock. Raymond James Financial reiterated an “outperform” rating and set a $270.00 price objective (up from $250.00) on shares of SiTime in a report on Friday, August 29th. Finally, Barclays boosted their target price on SiTime from $220.00 to $260.00 and gave the company an “underweight” rating in a research note on Thursday, November 6th.

View Our Latest Research Report on SITM

SiTime Stock Up 3.9%

Shares of NASDAQ SITM traded up $11.24 during mid-day trading on Friday, hitting $300.53. 128,329 shares of the company traded hands, compared to its average volume of 399,511. SiTime has a 1 year low of $105.40 and a 1 year high of $386.00. The stock has a market capitalization of $7.84 billion, a price-to-earnings ratio of -101.53 and a beta of 2.36. The business has a 50 day moving average of $290.24 and a two-hundred day moving average of $243.41.

SiTime (NASDAQ:SITM – Get Free Report) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.16. The firm 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 revenue for the quarter was up 44.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.40 EPS. As a group, research analysts anticipate that SiTime will post -2.44 EPS for the current year.

Insiders Place Their Bets

In related news, insider Piyush B. Sevalia sold 2,056 shares of the stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $251.50, for a total value of $517,084.00. Following the transaction, the insider owned 78,757 shares in the company, valued at approximately $19,807,385.50. This represents a 2.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Samsheer Ahamad sold 3,811 shares of SiTime stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $255.03, for a total transaction of $971,919.33. Following the completion of the sale, the insider owned 58,077 shares of the company’s stock, valued at $14,811,377.31. This trade represents a 6.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 42,867 shares of company stock worth $11,972,893 in the last quarter. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On SiTime

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in SiTime by 4.7% during the third quarter. Vanguard Group Inc. now owns 2,764,066 shares of the company’s stock valued at $832,841,000 after buying an additional 123,287 shares in the last quarter. Invesco Ltd. increased its holdings in shares of SiTime by 1.8% during the 3rd quarter. Invesco Ltd. now owns 1,037,305 shares of the company’s stock valued at $312,550,000 after acquiring an additional 18,165 shares during the last quarter. State Street Corp raised its stake in shares of SiTime by 3.7% in the 2nd quarter. State Street Corp now owns 911,280 shares of the company’s stock valued at $194,176,000 after acquiring an additional 32,178 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in SiTime by 22.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 736,281 shares of the company’s stock worth $156,887,000 after purchasing an additional 132,948 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in SiTime by 36.8% in the 3rd quarter. Wellington Management Group LLP now owns 537,741 shares of the company’s stock worth $162,027,000 after purchasing an additional 144,671 shares during the last quarter. 84.31% of the stock is currently owned by institutional investors.

SiTime Company Profile

(Get Free Report)

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.

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