SiTime Corporation (SITM) - What Are Researchers Thinking About This Stock?

Key Points

• Analyst sentiment is mostly positive: SiTime has a “Moderate Buy” consensus, with 12 of 16 brokerages rating it Buy or Strong Buy. The average 12-month price target is $687.
• Quarterly results topped expectations: SiTime reported EPS of $4.01 versus estimates of $3.62 and revenue of $298.67 million versus estimates of $292.65 million; revenue rose 257.4% year over year.
• Shares fell 5.5% to $444.54 in Friday trading, and the company announced a 3-for-1 stock split effective December 7. Insiders sold a combined 14,374 shares during the last quarter.

SiTime Corporation (NASDAQ:SITM - Get Free Report) has been assigned an average rating of "Moderate Buy" from the sixteen brokerages that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $687.00.

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company cut shares of SiTime to an "underweight" rating in a research note on Friday, November 6th. Benchmark assumed coverage on shares of SiTime in a research report on Wednesday, August 19th. They issued a "buy" rating and a $850.00 target price for the company. Needham & Company LLC initiated coverage on shares of SiTime in a research note on Thursday, November 5th. They issued a "buy" rating and a $600.00 price target on the stock. UBS Group cut their price target on shares of SiTime from $750.00 to $650.00 and set a "buy" rating on the stock in a research report on Thursday, November 5th. Finally, Rosenblatt Securities boosted their price target on shares of SiTime from $750.00 to $900.00 and gave the stock a "buy" rating in a research report on Tuesday, November 3rd.

Insider Activity at SiTime

In related news, Director Edward H. Frank sold 1,000 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $745.00, for a total transaction of $745,000.00. Following the completion of the transaction, the director directly owned 10,999 shares of the company's stock, valued at approximately $8,194,255. This represents a 8.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Rajesh Vashist sold 12,000 shares of the stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $603.47, for a total value of $7,241,640.00. Following the transaction, the chief executive officer directly owned 345,544 shares of the company's stock, valued at $208,525,437.68. This trade represents a 3.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 14,374 shares of company stock valued at $8,949,883. 1.40% of the stock is owned by insiders.

Institutional Investors Weigh In On SiTime

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Meeder Advisory Services Inc. boosted its holdings in shares of SiTime by 17.6% in the 3rd quarter. Meeder Advisory Services Inc. now owns 320 shares of the company's stock valued at $209,000 after buying an additional 48 shares during the last quarter. First Trust Advisors LP grew its stake in shares of SiTime by 297.9% in the third quarter. First Trust Advisors LP now owns 83,135 shares of the company's stock valued at $54,206,000 after buying an additional 62,243 shares in the last quarter. Resona Asset Management Co. Ltd. acquired a new position in SiTime during the third quarter worth $45,000. Advisors Asset Management Inc. acquired a new position in SiTime during the third quarter worth $4,022,000. Finally, USS Investment Management Ltd increased its holdings in SiTime by 49.1% during the third quarter. USS Investment Management Ltd now owns 26,566 shares of the company's stock worth $17,336,000 after buying an additional 8,743 shares during the last quarter. Institutional investors own 84.31% of the company's stock.

SiTime Stock Down 5.5%

Shares of SiTime stock traded down $26.01 during trading on Friday, reaching $444.54. The stock had a trading volume of 568,475 shares, compared to its average volume of 836,768. The company has a market capitalization of $13.43 billion, a price-to-earnings ratio of 472.91 and a beta of 2.88. The stock has a fifty day moving average price of $551.61 and a two-hundred day moving average price of $548.78. SiTime has a 52 week low of $243.68 and a 52 week high of $901.81. The company has a current ratio of 5.56, a quick ratio of 4.62 and a debt-to-equity ratio of 0.38.

SiTime's stock is going to split on the morning of Monday, December 7th. The 3-1 split was recently announced. The newly minted shares will be issued to shareholders after the closing bell on Sunday, December 6th.

SiTime (NASDAQ:SITM - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $4.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.62 by $0.39. The business had revenue of $298.67 million during the quarter, compared to the consensus estimate of $292.65 million. SiTime had a return on equity of 9.07% and a net margin of 3.87%. SiTime's quarterly revenue was up 257.4% on a year-over-year basis. During the same period last year, the company earned $0.87 earnings per share. Sell-side analysts predict that SiTime will post 6.37 EPS for the current fiscal year.

About SiTime

SiTime Corporation develops silicon-based timing solutions using microelectromechanical systems (MEMS) technology. Its products include MEMS resonators, oscillators and clock generators, which provide timing signals used to synchronize electronic systems. The company's components serve applications across communications, data centers, automotive, industrial, aerospace and defense, and consumer electronics. SiTime sells its products to customers and partners worldwide. Founded in 2005, SiTime became part of Japan's MegaChips in 2014 and later became a publicly traded company.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.