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

SiTime Co. (NASDAQ:SITM) has received a consensus recommendation of “Moderate Buy” from the five analysts that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $142.00.

A number of brokerages recently commented on SITM. Needham & Company LLC raised SiTime from a “hold” rating to a “buy” rating and set a $130.00 price target for the company in a report on Thursday. Barclays raised their price target on shares of SiTime from $110.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th.

Insiders Place Their Bets

In other SiTime news, insider Fariborz Assaderaghi sold 1,026 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $92.33, for a total transaction of $94,730.58. Following the completion of the sale, the insider now owns 90,887 shares in the company, valued at $8,391,596.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 3,602 shares of company stock valued at $319,899 in the last quarter. Insiders own 2.30% of the company’s stock.

Institutional Trading of SiTime

A number of large investors have recently modified their holdings of SITM. Pineridge Advisors LLC bought a new position in SiTime in the 4th quarter worth about $25,000. Quadrant Capital Group LLC grew its holdings in SiTime by 78.2% in the 4th quarter. Quadrant Capital Group LLC now owns 335 shares of the company’s stock worth $41,000 after buying an additional 147 shares in the last quarter. Nemes Rush Group LLC grew its holdings in SiTime by 26.9% in the 4th quarter. Nemes Rush Group LLC now owns 542 shares of the company’s stock worth $66,000 after buying an additional 115 shares in the last quarter. Amica Retiree Medical Trust increased its position in SiTime by 479.5% in the 3rd quarter. Amica Retiree Medical Trust now owns 649 shares of the company’s stock valued at $74,000 after acquiring an additional 537 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in SiTime by 35.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 689 shares of the company’s stock valued at $84,000 after acquiring an additional 180 shares in the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.

SiTime Trading Up 6.3 %

NASDAQ SITM opened at $103.00 on Thursday. The company’s fifty day simple moving average is $88.06 and its 200-day simple moving average is $104.18. The stock has a market cap of $2.36 billion, a P/E ratio of -26.70 and a beta of 1.78. SiTime has a 52 week low of $72.39 and a 52 week high of $141.99.

SiTime (NASDAQ:SITM) last issued its quarterly earnings data on Tuesday, February 13th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.01). The firm had revenue of $42.40 million during the quarter, compared to analyst estimates of $41.65 million. SiTime had a negative return on equity of 10.21% and a negative net margin of 55.93%. On average, research analysts expect that SiTime will post -2.3 EPS for the current fiscal 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.