SiTime (NASDAQ:SITM) Upgraded to “C” at TheStreet

TheStreet upgraded shares of SiTime (NASDAQ:SITMGet Rating) from a d+ rating to a c rating in a research report report published on Monday, TheStreetRatingsTable reports.

A number of other analysts also recently issued reports on the company. Needham & Company LLC lowered their price target on SiTime from $125.00 to $115.00 and set a buy rating for the company in a research report on Thursday, November 3rd. Barclays decreased their target price on SiTime from $130.00 to $96.00 and set an overweight rating for the company in a research report on Thursday, November 3rd. Raymond James decreased their target price on SiTime from $240.00 to $120.00 and set an outperform rating for the company in a research report on Thursday, November 3rd. Finally, Credit Suisse Group assumed coverage on SiTime in a research report on Tuesday, November 15th. They set an outperform rating and a $135.00 target price for the company. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of Buy and a consensus price target of $116.50.

SiTime Stock Performance

SITM stock opened at $101.53 on Monday. The firm has a market cap of $2.18 billion, a PE ratio of 50.77, a price-to-earnings-growth ratio of 6.59 and a beta of 1.90. The firm has a fifty day moving average price of $88.20 and a 200 day moving average price of $134.56. SiTime has a fifty-two week low of $73.10 and a fifty-two week high of $341.77.

SiTime (NASDAQ:SITMGet Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.02). The company had revenue of $73.10 million during the quarter, compared to the consensus estimate of $73.03 million. SiTime had a return on equity of 6.71% and a net margin of 14.95%. On average, equities analysts predict that SiTime will post 1.04 EPS for the current year.

Insider Transactions at SiTime

In related news, Director Katherine Schuelke sold 3,000 shares of SiTime stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $98.89, for a total value of $296,670.00. Following the completion of the sale, the director now directly owns 17,916 shares in the company, valued at $1,771,713.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Katherine Schuelke sold 3,000 shares of SiTime stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $98.89, for a total value of $296,670.00. Following the completion of the sale, the director now directly owns 17,916 shares in the company, valued at $1,771,713.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lionel Bonnot sold 399 shares of SiTime stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $87.00, for a total value of $34,713.00. Following the completion of the sale, the insider now owns 104,510 shares of the company’s stock, valued at $9,092,370. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,026 shares of company stock worth $500,167. 1.16% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SiTime

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. purchased a new position in SiTime in the first quarter valued at about $41,000. Amundi purchased a new stake in shares of SiTime during the second quarter worth about $47,000. Nisa Investment Advisors LLC purchased a new stake in shares of SiTime during the first quarter worth about $78,000. CWM LLC grew its stake in shares of SiTime by 517.6% during the third quarter. CWM LLC now owns 315 shares of the company’s stock worth $25,000 after acquiring an additional 264 shares during the last quarter. Finally, Cutler Group LLC CA grew its stake in shares of SiTime by 172.4% during the third quarter. Cutler Group LLC CA now owns 362 shares of the company’s stock worth $28,000 after acquiring an additional 862 shares during the last quarter. Hedge funds and other institutional investors own 72.84% of the company’s stock.

About SiTime

(Get Rating)

SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. Its solutions have applications in various markets, including communications and enterprise, automotive, industrial, Internet of Things, mobile, consumer, and aerospace and defense.

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