SiTime (NASDAQ:SITM) Given "Sell (D-)" Rating at Weiss Ratings

Key Points

• SiTime has been given a "sell (D-)" rating by Weiss Ratings, indicating a negative outlook for the stock.
• Several other research firms, including UBS and Raymond James, have upgraded their target prices for SiTime, with UBS raising it to $355 and maintaining a "buy" rating.
• Despite a poor consensus rating, SiTime's stock has shown strong performance, with a trading increase of 3.6% and a market capitalization of $8.13 billion.

SiTime (NASDAQ:SITM - Get Free Report)'s stock had its "sell (d-)" rating restated by equities research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Several other research firms have also commented on SITM. UBS Group upped their target price on SiTime from $260.00 to $355.00 and gave the company a "buy" rating in a report on Monday. Raymond James Financial reaffirmed an "outperform" rating and set a $270.00 target price (up from $250.00) on shares of SiTime in a report on Friday, August 29th. Stifel Nicolaus boosted their price objective on SiTime from $230.00 to $320.00 and gave the stock a "buy" rating in a research report on Thursday, September 18th. Finally, Barclays boosted their price objective on SiTime from $180.00 to $220.00 and gave the stock an "underweight" rating in a research report on Thursday, August 7th. Five analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $274.17.

SiTime Trading Up 3.6%

NASDAQ:SITM opened at $312.79 on Wednesday. The firm has a market capitalization of $8.13 billion, a PE ratio of -89.88 and a beta of 2.35. The stock has a 50 day moving average of $252.61 and a 200-day moving average of $208.09. SiTime has a 52 week low of $105.40 and a 52 week high of $323.66.

SiTime (NASDAQ:SITM - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.29 by $0.18. The company had revenue of $69.49 million during the quarter, compared to analyst estimates 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 was up 58.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.12 earnings per share. As a group, analysts predict that SiTime will post -2.44 EPS for the current fiscal year.

Insider Activity

In related news, EVP Elizabeth A. Howe sold 5,099 shares of the business's stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $319.00, for a total transaction of $1,626,581.00. Following the sale, the executive vice president owned 59,070 shares of the company's stock, valued at $18,843,330. The trade was a 7.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Piyush B. Sevalia sold 2,056 shares of the business's 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 sale, the insider directly owned 78,757 shares in the company, valued at approximately $19,807,385.50. The trade was a 2.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,367 shares of company stock valued at $9,760,713 over the last 90 days. Corporate insiders own 2.10% of the company's stock.

Institutional Investors Weigh In On SiTime

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SITM. GAMMA Investing LLC raised its holdings in SiTime by 80.9% during the first quarter. GAMMA Investing LLC now owns 1,708 shares of the company's stock worth $261,000 after purchasing an additional 764 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in SiTime during the first quarter worth approximately $32,000. Oppenheimer Asset Management Inc. raised its holdings in SiTime by 49.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 2,637 shares of the company's stock worth $403,000 after purchasing an additional 867 shares in the last quarter. Illinois Municipal Retirement Fund raised its holdings in SiTime by 9.0% during the first quarter. Illinois Municipal Retirement Fund now owns 8,849 shares of the company's stock worth $1,353,000 after purchasing an additional 734 shares in the last quarter. Finally, K.J. Harrison & Partners Inc bought a new position in shares of SiTime in the first quarter valued at $764,000. Institutional investors own 84.31% of the company's stock.

About SiTime

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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