SiTime Co. (NASDAQ:SITM) Receives $140.00 Consensus Price Target from Brokerages

Shares of SiTime Co. (NASDAQ:SITM) have been assigned a consensus rating of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $140.00.

Separately, Needham & Company LLC reissued a “buy” rating and set a $130.00 price objective on shares of SiTime in a report on Tuesday, June 25th.

Insider Activity

In related news, insider Fariborz Assaderaghi sold 1,083 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $121.61, for a total value of $131,703.63. Following the completion of the sale, the insider now directly owns 104,186 shares in the company, valued at $12,670,059.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Katherine Schuelke sold 1,094 shares of SiTime stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $126.19, for a total transaction of $138,051.86. Following the completion of the transaction, the director now owns 17,648 shares of the company’s stock, valued at $2,227,001.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Fariborz Assaderaghi sold 1,083 shares of the stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $121.61, for a total value of $131,703.63. Following the sale, the insider now owns 104,186 shares of the company’s stock, valued at $12,670,059.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,151 shares of company stock valued at $4,845,692. Insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On SiTime

A number of institutional investors and hedge funds have recently modified their holdings of SITM. Jennison Associates LLC increased its stake in SiTime by 19.8% in the fourth quarter. Jennison Associates LLC now owns 173,770 shares of the company’s stock valued at $21,214,000 after purchasing an additional 28,739 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in SiTime by 16.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 246,637 shares of the company’s stock worth $30,112,000 after buying an additional 35,491 shares during the period. Norges Bank bought a new position in SiTime in the fourth quarter worth approximately $12,662,000. Vanguard Group Inc. grew its stake in SiTime by 2.9% in the third quarter. Vanguard Group Inc. now owns 2,066,610 shares of the company’s stock valued at $236,110,000 after acquiring an additional 58,629 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in shares of SiTime by 12,108.0% during the fourth quarter. International Assets Investment Management LLC now owns 12,208 shares of the company’s stock valued at $1,490,000 after acquiring an additional 12,108 shares in the last quarter. 84.31% of the stock is currently owned by institutional investors.

SiTime Stock Performance

SiTime stock opened at $124.38 on Friday. SiTime has a 52 week low of $72.39 and a 52 week high of $141.99. The stock has a market capitalization of $2.84 billion, a P/E ratio of -30.12 and a beta of 1.83. The stock has a fifty day moving average of $114.26 and a 200-day moving average of $107.93.

SiTime (NASDAQ:SITM) last posted its earnings results on Wednesday, May 8th. The company reported ($1.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.17). The company had revenue of $33.02 million during the quarter, compared to the consensus estimate of $32.02 million. SiTime had a negative return on equity of 11.29% and a negative net margin of 66.88%. On average, research analysts forecast that SiTime will post -2.66 earnings per share for the current year.

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.