Analysts Set SiTime Co. (NASDAQ:SITM) Price Target at $218.00

Shares of SiTime Co. (NASDAQ:SITM) have received an average rating of “Buy” from the seven ratings firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $218.00.

Several analysts have commented on SITM shares. Raymond James raised their price objective on shares of SiTime from $150.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, August 5th. Barclays raised their price objective on shares of SiTime from $175.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, September 14th. Credit Suisse Group initiated coverage on shares of SiTime in a research note on Monday, August 30th. They set an “outperform” rating and a $225.00 target price for the company. TheStreet raised shares of SiTime from a “d+” rating to a “c-” rating in a research note on Thursday, August 5th. Finally, Needham & Company LLC raised their target price on shares of SiTime from $125.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, August 5th.

Shares of SiTime stock traded up $7.39 during trading on Monday, reaching $221.40. 19 shares of the stock were exchanged, compared to its average volume of 190,263. The stock’s fifty day moving average is $210.95 and its 200 day moving average is $143.92. The firm has a market cap of $4.22 billion, a price-to-earnings ratio of -5,350.25, a price-to-earnings-growth ratio of 17.41 and a beta of 0.62. SiTime has a 1 year low of $75.81 and a 1 year high of $239.68.

SiTime (NASDAQ:SITM) last issued its quarterly earnings data on Wednesday, August 4th. The company reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.23. SiTime had a negative net margin of 0.14% and a negative return on equity of 0.11%. The business had revenue of $44.50 million during the quarter, compared to analyst estimates of $40.04 million. SiTime’s revenue for the quarter was up 107.0% compared to the same quarter last year. On average, analysts predict that SiTime will post 0.87 earnings per share for the current year.

In other news, insider Vincent P. Pangrazio sold 150 shares of SiTime stock in a transaction on Thursday, September 16th. The shares were sold at an average price of $220.15, for a total transaction of $33,022.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Rajesh Vashist sold 25,000 shares of SiTime stock in a transaction on Wednesday, September 15th. The stock was sold at an average price of $217.38, for a total transaction of $5,434,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,193 shares of company stock valued at $14,632,124. 0.80% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SITM. Rhumbline Advisers lifted its stake in shares of SiTime by 15.5% during the 1st quarter. Rhumbline Advisers now owns 11,272 shares of the company’s stock valued at $1,111,000 after buying an additional 1,510 shares in the last quarter. Swiss National Bank lifted its stake in SiTime by 2.6% in the 1st quarter. Swiss National Bank now owns 19,400 shares of the company’s stock worth $1,913,000 after purchasing an additional 500 shares in the last quarter. BlackRock Inc. lifted its stake in SiTime by 17.0% in the 1st quarter. BlackRock Inc. now owns 883,322 shares of the company’s stock worth $87,096,000 after purchasing an additional 128,293 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in SiTime by 5.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 2,321 shares of the company’s stock worth $229,000 after purchasing an additional 130 shares in the last quarter. Finally, UBS Group AG lifted its stake in SiTime by 30.4% in the 1st quarter. UBS Group AG now owns 8,644 shares of the company’s stock worth $852,000 after purchasing an additional 2,013 shares in the last quarter. Institutional investors own 63.09% of the company’s stock.

About SiTime

SiTime Corporation provides silicon timing systems in Taiwan, Hong Kong, the United States, and internationally. It provides resonators and clock integrated circuits, and various types of oscillators. The company's solutions are used in various markets, including enterprise and telecommunications infrastructure, automotive, industrial, Internet of Things, mobile, and aerospace and defense.

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Analyst Recommendations for SiTime (NASDAQ:SITM)

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