SiTime Co. (NASDAQ:SITM) Given Average Rating of “Moderate Buy” by Brokerages

SiTime Co. (NASDAQ:SITM) has been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $140.00.

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 price objective on shares of SiTime in a report on Tuesday.

SiTime Stock Performance

SITM opened at $123.25 on Friday. SiTime has a 1 year low of $72.39 and a 1 year high of $141.99. The company’s 50 day simple moving average is $113.24 and its 200 day simple moving average is $107.95. The stock has a market capitalization of $2.82 billion, a PE ratio of -29.84 and a beta of 1.83.

SiTime (NASDAQ:SITM) last issued its earnings results on Wednesday, May 8th. The company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.17). The business had revenue of $33.02 million for the quarter, compared to analyst estimates of $32.02 million. SiTime had a negative return on equity of 11.29% and a negative net margin of 66.88%. As a group, sell-side analysts expect that SiTime will post -2.66 earnings per share for the current fiscal year.

Insider Activity at SiTime

In other news, insider Fariborz Assaderaghi sold 1,288 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $84.25, for a total transaction of $108,514.00. Following the completion of the transaction, the insider now owns 110,203 shares in the company, valued at approximately $9,284,602.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Fariborz Assaderaghi sold 1,288 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $84.25, for a total transaction of $108,514.00. Following the completion of the transaction, the insider now owns 110,203 shares in the company, valued at approximately $9,284,602.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Rajesh Vashist sold 4,000 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $124.17, for a total transaction of $496,680.00. Following the completion of the transaction, the chief executive officer now owns 450,367 shares of the company’s stock, valued at $55,922,070.39. The disclosure for this sale can be found here. Insiders sold 39,151 shares of company stock worth $4,845,692 in the last 90 days. Corporate insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Swedbank AB purchased a new stake in shares of SiTime in the first quarter worth approximately $2,144,000. Grandeur Peak Global Advisors LLC lifted its position in shares of SiTime by 34.7% in the first quarter. Grandeur Peak Global Advisors LLC now owns 95,281 shares of the company’s stock worth $8,883,000 after purchasing an additional 24,542 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of SiTime in the first quarter worth approximately $346,000. Kennedy Capital Management LLC lifted its position in shares of SiTime by 5.5% in the first quarter. Kennedy Capital Management LLC now owns 39,184 shares of the company’s stock worth $3,653,000 after purchasing an additional 2,051 shares in the last quarter. Finally, Bayesian Capital Management LP purchased a new stake in shares of SiTime in the first quarter worth approximately $243,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.

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.