Analysts Set SiTime Co. (NASDAQ:SITM) PT at $140.00

Shares of SiTime Co. (NASDAQ:SITM) have been given a consensus rating of “Moderate Buy” by the six analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $140.00.

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

Insider Buying and Selling

In related news, insider Fariborz Assaderaghi sold 1,083 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $121.61, for a total transaction of $131,703.63. Following the transaction, the insider now directly owns 104,186 shares in the company, valued at $12,670,059.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Fariborz Assaderaghi sold 1,083 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $121.61, for a total transaction of $131,703.63. Following the transaction, the insider now directly owns 104,186 shares in the company, valued at $12,670,059.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lionel Bonnot sold 781 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $117.08, for a total transaction of $91,439.48. Following the transaction, the insider now owns 98,299 shares in the company, valued at $11,508,846.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,151 shares of company stock worth $4,845,692. 2.30% of the stock is owned by insiders.

Hedge Funds Weigh In On SiTime

A number of hedge funds have recently modified their holdings of SITM. Jennison Associates LLC increased its position in shares of SiTime by 19.8% during the fourth quarter. Jennison Associates LLC now owns 173,770 shares of the company’s stock valued at $21,214,000 after acquiring an additional 28,739 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of SiTime by 16.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 246,637 shares of the company’s stock worth $30,112,000 after acquiring an additional 35,491 shares during the last quarter. Norges Bank acquired a new position in shares of SiTime in the 4th quarter worth approximately $12,662,000. Vanguard Group Inc. lifted its holdings in shares of SiTime by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,066,610 shares of the company’s stock worth $236,110,000 after acquiring an additional 58,629 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of SiTime by 12,108.0% in the 4th quarter. International Assets Investment Management LLC now owns 12,208 shares of the company’s stock worth $1,490,000 after acquiring an additional 12,108 shares during the last quarter. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

SiTime Stock Performance

SITM opened at $128.43 on Friday. SiTime has a fifty-two week low of $72.39 and a fifty-two week high of $141.99. The company has a fifty day moving average of $118.26 and a two-hundred day moving average of $108.18. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of -31.10 and a beta of 1.82.

SiTime (NASDAQ:SITM) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($1.04) earnings per share 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 firm had revenue of $33.02 million during the quarter, compared to analysts’ expectations of $32.02 million. On average, equities research analysts forecast that SiTime will post -2.66 earnings per share for the current year.

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.