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

SiTime Corporation (NASDAQ:SITM) has been assigned a consensus recommendation of “Moderate Buy” from the nine brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $409.3750.

Several research analysts have weighed in on the company. Loop Capital started coverage on SiTime in a research report on Friday, November 21st. They set a “buy” rating and a $350.00 price target on the stock. UBS Group increased their price objective on SiTime from $430.00 to $485.00 and gave the company a “buy” rating in a report on Thursday, February 5th. The Goldman Sachs Group assumed coverage on shares of SiTime in a research note on Monday, December 15th. They issued a “buy” rating and a $420.00 target price for the company. Roth Mkm restated a “buy” rating and set a $450.00 target price on shares of SiTime in a report on Thursday, February 5th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of SiTime in a research report on Tuesday, December 2nd.

Insider Buying and Selling at SiTime

In other SiTime news, insider Samsheer Ahamad sold 9,100 shares of SiTime stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $441.47, for a total transaction of $4,017,377.00. Following the completion of the transaction, the insider directly owned 52,938 shares of the company’s stock, valued at $23,370,538.86. The trade was a 14.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Akira Takata sold 3,500 shares of the stock in a transaction dated Friday, February 6th. The shares were 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 directly owned 13,734 shares in the company, valued at approximately $5,929,379.82. This represents a 20.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 23,263 shares of company stock worth $9,851,457. 2.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SiTime

Large investors have recently made changes to their positions in the company. Rakuten Securities Inc. boosted its stake in SiTime by 188.5% in the 4th quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock valued at $26,000 after purchasing an additional 49 shares during the period. Hantz Financial Services Inc. increased its position in SiTime by 190.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 90 shares of the company’s stock worth $27,000 after buying an additional 59 shares during the period. Optiver Holding B.V. increased its position in SiTime by 56.1% during the 3rd quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock worth $27,000 after buying an additional 32 shares during the period. Larson Financial Group LLC lifted its holdings in shares of SiTime by 3,200.0% during the third quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock worth $30,000 after buying an additional 96 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of SiTime during the fourth quarter worth $33,000. Institutional investors own 84.31% of the company’s stock.

SiTime Price Performance

SiTime stock opened at $327.35 on Monday. The company has a market cap of $8.61 billion, a price-to-earnings ratio of -179.86 and a beta of 2.53. The firm has a 50-day moving average of $377.53 and a 200-day moving average of $324.89. SiTime has a one year low of $105.40 and a one year high of $446.95.

SiTime (NASDAQ:SITM) last released its earnings results on Wednesday, February 4th. The company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.33. SiTime had a negative return on equity of 2.06% and a negative net margin of 13.13%.The business had revenue of $113.29 million for the quarter, compared to the consensus estimate of $101.91 million. During the same quarter in the previous year, the business earned $0.48 earnings per share. SiTime’s quarterly revenue was up 66.3% on a year-over-year basis. As a group, sell-side analysts expect that SiTime will post -2.44 earnings per share for the current year.

SiTime Company Profile

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.