Brokerages Set SiTime Co. (NASDAQ:SITM) Target Price at $142.00

Shares of SiTime Co. (NASDAQ:SITMGet Free Report) have been assigned an average rating of “Moderate Buy” from the six brokerages that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $142.00.

Several analysts have issued reports on the stock. Barclays upped their price target on shares of SiTime from $110.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 16th. Stifel Nicolaus upped their price target on shares of SiTime from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, January 2nd.

Read Our Latest Stock Report on SITM

Insider Transactions at SiTime

In related news, insider Fariborz Assaderaghi sold 1,288 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $90.57, for a total value of $116,654.16. Following the completion of the transaction, the insider now directly owns 111,491 shares of the company’s stock, valued at $10,097,739.87. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Fariborz Assaderaghi sold 1,288 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $90.57, for a total value of $116,654.16. Following the completion of the transaction, the insider now directly owns 111,491 shares of the company’s stock, valued at $10,097,739.87. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Rajesh Vashist sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $125.00, for a total transaction of $125,000.00. Following the transaction, the chief executive officer now directly owns 428,655 shares of the company’s stock, valued at approximately $53,581,875. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,340 shares of company stock worth $455,780. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On SiTime

Several institutional investors and hedge funds have recently made changes to their positions in SITM. Mackenzie Financial Corp boosted its holdings in SiTime by 8.1% in the first quarter. Mackenzie Financial Corp now owns 811 shares of the company’s stock worth $201,000 after purchasing an additional 61 shares during the last quarter. Yousif Capital Management LLC boosted its holdings in SiTime by 1.1% in the fourth quarter. Yousif Capital Management LLC now owns 8,554 shares of the company’s stock worth $1,044,000 after purchasing an additional 95 shares during the last quarter. Bessemer Group Inc. boosted its holdings in SiTime by 20.0% in the second quarter. Bessemer Group Inc. now owns 594 shares of the company’s stock worth $70,000 after purchasing an additional 99 shares during the last quarter. Amalgamated Bank boosted its holdings in SiTime by 1.5% in the third quarter. Amalgamated Bank now owns 7,606 shares of the company’s stock worth $869,000 after purchasing an additional 113 shares during the last quarter. Finally, Arizona State Retirement System boosted its holdings in SiTime by 2.5% in the third quarter. Arizona State Retirement System now owns 4,687 shares of the company’s stock worth $535,000 after purchasing an additional 115 shares during the last quarter. Institutional investors own 84.31% of the company’s stock.

SiTime Stock Performance

Shares of NASDAQ:SITM opened at $88.80 on Monday. SiTime has a 52-week low of $81.09 and a 52-week high of $141.99. The firm has a fifty day moving average of $100.06 and a 200 day moving average of $109.08. The firm has a market capitalization of $2.01 billion, a PE ratio of -24.46 and a beta of 1.78.

SiTime (NASDAQ:SITMGet Free Report) last announced its earnings results on Tuesday, February 13th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.01). SiTime had a negative return on equity of 10.21% and a negative net margin of 55.93%. The company had revenue of $42.40 million during the quarter, compared to analysts’ expectations of $41.65 million. On average, sell-side analysts forecast that SiTime will post -2.3 EPS for the current fiscal year.

About SiTime

(Get Free Report

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.

Featured Stories

Analyst Recommendations for SiTime (NASDAQ:SITM)

Receive News & Ratings for SiTime Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SiTime and related companies with MarketBeat.com's FREE daily email newsletter.