Brokerages Set SiTime Co. (NASDAQ:SITM) Target Price at $140.00

Shares of SiTime Co. (NASDAQ:SITM) have earned an average rating of “Moderate Buy” from the six brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $140.00.

Separately, Needham & Company LLC reissued a “buy” rating and set a $130.00 price objective on shares of SiTime in a report on Tuesday, June 25th.

Insider Buying and Selling

In other SiTime news, CEO Rajesh Vashist sold 20,000 shares of SiTime stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $125.44, for a total transaction of $2,508,800.00. Following the completion of the transaction, the chief executive officer now owns 455,367 shares in the company, valued at $57,121,236.48. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Fariborz Assaderaghi sold 1,288 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $84.25, for a total transaction of $108,514.00. Following the sale, the insider now owns 110,203 shares of the company’s stock, valued at $9,284,602.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Rajesh Vashist sold 20,000 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $125.44, for a total transaction of $2,508,800.00. Following the completion of the transaction, the chief executive officer now directly owns 455,367 shares of the company’s stock, valued at approximately $57,121,236.48. The disclosure for this sale can be found here. Insiders have sold 39,151 shares of company stock worth $4,845,692 in the last three months. Corporate insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On SiTime

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Invesco Ltd. lifted its position in SiTime by 220.2% during the third quarter. Invesco Ltd. now owns 198,296 shares of the company’s stock worth $22,655,000 after buying an additional 136,367 shares during the period. Norges Bank purchased a new position in shares of SiTime during the 4th quarter worth about $12,662,000. Brown Advisory Inc. boosted its position in shares of SiTime by 125.1% in the fourth quarter. Brown Advisory Inc. now owns 155,947 shares of the company’s stock worth $19,038,000 after acquiring an additional 86,675 shares during the last quarter. Vanguard Group Inc. grew its holdings in SiTime by 4.1% in the first quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock valued at $205,412,000 after purchasing an additional 85,800 shares during the period. Finally, Roubaix Capital LLC acquired a new position in SiTime during the first quarter worth approximately $5,288,000. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

SiTime Price Performance

SITM opened at $124.38 on Friday. The business has a 50 day simple moving average of $114.26 and a 200-day simple moving average of $107.93. SiTime has a 12 month low of $72.39 and a 12 month high of $141.99. The stock has a market capitalization of $2.84 billion, a P/E ratio of -30.12 and a beta of 1.83.

SiTime (NASDAQ:SITM) last released its earnings results on Wednesday, May 8th. The company reported ($1.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.17). SiTime had a negative net margin of 66.88% and a negative return on equity of 11.29%. The business had revenue of $33.02 million during the quarter, compared to analyst estimates of $32.02 million. Research analysts anticipate that SiTime will post -2.66 EPS for the current year.

SiTime Company Profile

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.