Analysts Set SiTime Corporation (NASDAQ:SITM) Price Target at $274.17

Shares of SiTime Corporation (NASDAQ:SITM) have been given an average rating of “Hold” by the seven analysts that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $274.1667.

SITM has been the subject of several research reports. Stifel Nicolaus upped their target price on shares of SiTime from $230.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, September 18th. UBS Group upped their target price on shares of SiTime from $260.00 to $355.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Raymond James Financial reiterated an “outperform” rating and issued a $270.00 target price (up from $250.00) on shares of SiTime in a research report on Friday, August 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of SiTime in a research report on Wednesday, October 8th. Finally, Barclays upped their target price on shares of SiTime from $180.00 to $220.00 and gave the stock an “underweight” rating in a research report on Thursday, August 7th.

SiTime Trading Down 0.2%

SITM stock opened at $277.14 on Tuesday. The firm has a 50 day moving average of $275.39 and a 200-day moving average of $223.51. SiTime has a 12 month low of $105.40 and a 12 month high of $323.66. The firm has a market capitalization of $7.21 billion, a P/E ratio of -79.64 and a beta of 2.35.

SiTime (NASDAQ:SITM) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.29 by $0.18. SiTime had a negative net margin of 32.15% and a negative return on equity of 7.54%. The firm had revenue of $69.49 million during the quarter, compared to the consensus estimate of $64.66 million. During the same period last year, the firm earned $0.12 EPS. The business’s quarterly revenue was up 58.3% compared to the same quarter last year. Sell-side analysts predict that SiTime will post -2.44 EPS for the current year.

Insider Buying and Selling

In other news, insider Samsheer Ahamad sold 3,811 shares of the company’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $255.03, for a total value of $971,919.33. Following the completion of the sale, the insider owned 58,077 shares of the company’s stock, valued at approximately $14,811,377.31. This represents a 6.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Elizabeth A. Howe sold 5,099 shares of the company’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $319.00, for a total transaction of $1,626,581.00. Following the completion of the sale, the executive vice president directly owned 59,070 shares of the company’s stock, valued at $18,843,330. This trade represents a 7.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 36,367 shares of company stock worth $9,330,713 in the last ninety days. 2.10% of the stock is currently owned by insiders.

Institutional Trading of SiTime

A number of institutional investors have recently made changes to their positions in the stock. Invesco Ltd. boosted its stake in shares of SiTime by 4.8% during the second quarter. Invesco Ltd. now owns 1,019,140 shares of the company’s stock valued at $217,158,000 after purchasing an additional 46,721 shares during the period. State Street Corp boosted its stake in shares of SiTime by 3.7% during the second quarter. State Street Corp now owns 911,280 shares of the company’s stock valued at $194,176,000 after purchasing an additional 32,178 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of SiTime by 22.0% during the second quarter. Ameriprise Financial Inc. now owns 736,281 shares of the company’s stock valued at $156,887,000 after purchasing an additional 132,948 shares during the period. Geode Capital Management LLC boosted its stake in shares of SiTime by 11.2% during the second quarter. Geode Capital Management LLC now owns 506,400 shares of the company’s stock valued at $107,918,000 after purchasing an additional 51,063 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in shares of SiTime by 1.1% during the second quarter. Alliancebernstein L.P. now owns 448,036 shares of the company’s stock valued at $95,468,000 after purchasing an additional 4,809 shares during the period. Hedge funds and other institutional investors own 84.31% of the company’s stock.

About SiTime

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.