SiTime Corporation (NASDAQ:SITM) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• SiTime Corporation (NASDAQ:SITM) has received a consensus rating of "Moderate Buy" from analysts, with one sell rating and five buy ratings from six firms.
• The average 1-year price target for SiTime is $258.33, with various brokerages setting target prices between $220.00 and $320.00.
• SiTime reported a 58.3% year-over-year increase in revenue, with earnings per share at $0.47, surpassing analysts' expectations of $0.29.

SiTime Corporation (NASDAQ:SITM - Get Free Report) has received a consensus rating of "Moderate Buy" from the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $258.3333.

Several brokerages have issued reports on SITM. UBS Group began coverage on SiTime in a research report on Thursday, August 14th. They issued a "buy" rating and a $260.00 target price on the stock. Barclays raised their target price on SiTime from $180.00 to $220.00 and gave the stock an "underweight" rating in a research report on Thursday, August 7th. Raymond James Financial reissued an "outperform" rating and issued a $270.00 target price (up from $250.00) on shares of SiTime in a research report on Friday, August 29th. Finally, Stifel Nicolaus raised their target price on SiTime from $230.00 to $320.00 and gave the stock a "buy" rating in a research report on Thursday, September 18th.

SiTime Price Performance

SiTime stock opened at $300.03 on Friday. SiTime has a one year low of $105.40 and a one year high of $319.00. The stock has a market capitalization of $7.80 billion, a PE ratio of -86.22 and a beta of 2.35. The business's fifty day moving average is $243.34 and its 200 day moving average is $204.48.

SiTime (NASDAQ:SITM - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.18. The business had revenue of $69.49 million for the quarter, compared to analysts' expectations of $64.66 million. SiTime had a negative return on equity of 7.54% and a negative net margin of 32.15%.The business's revenue for the quarter was up 58.3% on a year-over-year basis. During the same period last year, the firm posted $0.12 earnings per share. As a group, sell-side analysts expect that SiTime will post -2.44 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Samsheer Ahamad sold 6,000 shares of SiTime stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $250.00, for a total transaction of $1,500,000.00. Following the transaction, the insider directly owned 61,888 shares of the company's stock, valued at $15,472,000. The trade was a 8.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Fariborz Assaderaghi sold 3,000 shares of SiTime stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $234.00, for a total value of $702,000.00. Following the transaction, the insider directly owned 93,433 shares in the company, valued at approximately $21,863,322. The trade was a 3.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,268 shares of company stock valued at $8,134,132 in the last 90 days. Corporate insiders own 2.10% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SITM. Rhumbline Advisers lifted its position in shares of SiTime by 0.9% during the 1st quarter. Rhumbline Advisers now owns 51,143 shares of the company's stock valued at $7,818,000 after buying an additional 440 shares in the last quarter. GAMMA Investing LLC raised its stake in SiTime by 80.9% during the 1st quarter. GAMMA Investing LLC now owns 1,708 shares of the company's stock valued at $261,000 after purchasing an additional 764 shares during the period. Opal Wealth Advisors LLC bought a new stake in SiTime during the 1st quarter valued at approximately $32,000. Oppenheimer Asset Management Inc. raised its stake in SiTime by 49.0% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 2,637 shares of the company's stock valued at $403,000 after purchasing an additional 867 shares during the period. Finally, Illinois Municipal Retirement Fund raised its stake in SiTime by 9.0% during the 1st quarter. Illinois Municipal Retirement Fund now owns 8,849 shares of the company's stock valued at $1,353,000 after purchasing an additional 734 shares during the period. 84.31% of the stock is owned by hedge funds and other institutional investors.

SiTime Company Profile

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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