SiTime (NASDAQ:SITM – Get Free Report) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Sunday.
Several other research firms also recently issued reports on SITM. The Goldman Sachs Group restated a “buy” rating and set a $800.00 target price on shares of SiTime in a research report on Thursday, May 7th. Roth Capital reiterated a “buy” rating and set a $900.00 price objective on shares of SiTime in a research note on Thursday, May 7th. UBS Group increased their price objective on SiTime from $675.00 to $775.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Weiss Ratings restated a “sell (d-)” rating on shares of SiTime in a research note on Tuesday, April 21st. Finally, Zacks Research lowered SiTime from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, SiTime presently has an average rating of “Moderate Buy” and a consensus target price of $661.88.
View Our Latest Report on SITM
SiTime Price Performance
SiTime (NASDAQ:SITM – Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.30. The company had revenue of $113.57 million for the quarter, compared to analyst estimates of $103.51 million. SiTime had a negative net margin of 6.38% and a positive return on equity of 0.53%. The company’s quarterly revenue was up 88.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.26 earnings per share. As a group, sell-side analysts predict that SiTime will post 3.23 EPS for the current year.
Insider Activity at SiTime
In other SiTime news, CEO Rajesh Vashist sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $750.00, for a total value of $3,750,000.00. Following the sale, the chief executive officer owned 9,781 shares of the company’s stock, valued at $7,335,750. This trade represents a 33.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christine Heckart sold 1,290 shares of SiTime stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $700.00, for a total value of $903,000.00. Following the sale, the director owned 790 shares of the company’s stock, valued at approximately $553,000. This trade represents a 62.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 72,128 shares of company stock valued at $51,401,463 in the last ninety days. 1.40% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On SiTime
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. lifted its stake in shares of SiTime by 3.9% in the 4th quarter. Principal Financial Group Inc. now owns 363,953 shares of the company’s stock valued at $128,545,000 after acquiring an additional 13,577 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in SiTime by 1,368.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 3,259 shares of the company’s stock worth $1,151,000 after acquiring an additional 3,037 shares during the last quarter. Stephens Investment Management Group LLC bought a new position in SiTime during the 1st quarter worth approximately $24,135,000. FengHe Fund Management Pte. Ltd. purchased a new position in SiTime in the 4th quarter worth approximately $45,346,000. Finally, Berkshire Capital Holdings Inc. purchased a new position in SiTime in the 4th quarter worth approximately $2,889,000. 84.31% of the stock is owned by hedge funds and other institutional investors.
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.
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