Brokerages Set SiTime Corporation (NASDAQ:SITM) Price Target at $409.38

Shares of SiTime Corporation (NASDAQ:SITM) have received an average rating of “Moderate Buy” from the nine ratings firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $409.3750.

Several analysts recently weighed in on the stock. Wall Street Zen upgraded shares of SiTime from a “hold” rating to a “buy” rating in a report on Sunday, March 22nd. UBS Group lifted their target price on shares of SiTime from $430.00 to $485.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Stifel Nicolaus set a $450.00 target price on shares of SiTime in a report on Thursday, February 5th. The Goldman Sachs Group assumed coverage on shares of SiTime in a report on Monday, December 15th. They issued a “buy” rating and a $420.00 target price for the company. Finally, Roth Mkm reiterated a “buy” rating and issued a $450.00 target price on shares of SiTime in a report on Thursday, February 5th.

Insider Buying and Selling

In other SiTime news, insider Fariborz Assaderaghi sold 4,984 shares of SiTime stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $406.45, for a total value of $2,025,746.80. Following the completion of the transaction, the insider directly owned 89,194 shares of the company’s stock, valued at $36,252,901.30. The trade was a 5.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Raman Chitkara sold 501 shares of SiTime stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $425.03, for a total value of $212,940.03. Following the completion of the transaction, the director directly owned 21,508 shares of the company’s stock, valued at approximately $9,141,545.24. This represents a 2.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 22,512 shares of company stock worth $9,581,432 over the last 90 days. 2.10% of the stock is owned by insiders.

Hedge Funds Weigh In On SiTime

Several institutional investors have recently modified their holdings of SITM. Norges Bank acquired a new position in shares of SiTime in the fourth quarter worth $83,977,000. Whale Rock Capital Management LLC grew its stake in shares of SiTime by 45.4% in the fourth quarter. Whale Rock Capital Management LLC now owns 698,539 shares of the company’s stock worth $246,717,000 after acquiring an additional 218,038 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of SiTime by 61.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 562,892 shares of the company’s stock worth $198,808,000 after acquiring an additional 213,242 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in shares of SiTime in the fourth quarter worth $59,452,000. Finally, Wellington Management Group LLP grew its stake in shares of SiTime by 36.8% in the third quarter. Wellington Management Group LLP now owns 537,741 shares of the company’s stock worth $162,027,000 after acquiring an additional 144,671 shares in the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.

SiTime Trading Up 3.0%

Shares of NASDAQ:SITM opened at $406.69 on Friday. The business has a 50-day moving average price of $374.75 and a 200 day moving average price of $340.06. The company has a market capitalization of $10.70 billion, a price-to-earnings ratio of -223.46 and a beta of 2.57. SiTime has a 12-month low of $123.59 and a 12-month high of $446.95.

SiTime (NASDAQ:SITM) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.33. The firm had revenue of $113.29 million during the quarter, compared to the consensus estimate of $101.91 million. SiTime had a negative return on equity of 2.06% and a negative net margin of 13.13%.The company’s quarterly revenue was up 66.3% on a year-over-year basis. During the same period last year, the company earned $0.48 EPS. As a group, equities research analysts predict that SiTime will post -2.44 earnings per share for the current fiscal year.

SiTime Company Profile

SiTime Corporation is a fabless semiconductor company specializing in silicon timing solutions that leverage micro-electromechanical systems (MEMS) technology as an alternative to traditional quartz crystals. Its portfolio of programmable oscillators, resonators, clock generators, jitter attenuators and network synchronizers addresses precision timekeeping requirements across a wide range of electronic systems. By integrating MEMS resonators with advanced mixed-signal control circuitry, SiTime’s products offer enhanced reliability, resistance to shock and vibration, and a smaller footprint compared with conventional quartz devices.

The company’s timing devices serve diverse end markets, including telecommunications infrastructure, data center and enterprise networking, consumer electronics, automotive systems, industrial automation, and aerospace and defense applications.