SiTime (NASDAQ:SITM) Upgraded to “C” at TheStreet

TheStreet upgraded shares of SiTime (NASDAQ:SITMGet Rating) from a d+ rating to a c rating in a report issued on Monday, TheStreetRatingsTable reports.

SITM has been the subject of several other reports. Credit Suisse Group started coverage on SiTime in a report on Tuesday, November 15th. They issued an outperform rating and a $135.00 target price for the company. Barclays dropped their target price on SiTime from $130.00 to $96.00 and set an overweight rating for the company in a report on Thursday, November 3rd. Raymond James lowered their price target on SiTime from $240.00 to $120.00 and set an outperform rating for the company in a report on Thursday, November 3rd. Finally, Needham & Company LLC decreased their target price on SiTime from $125.00 to $115.00 and set a buy rating on the stock in a research note on Thursday, November 3rd. Four analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of Buy and an average price target of $116.50.

SiTime Stock Performance

Shares of SITM opened at $101.53 on Monday. SiTime has a one year low of $73.10 and a one year high of $341.77. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 50.77, a PEG ratio of 6.59 and a beta of 1.90. The stock has a 50 day moving average price of $88.20 and a 200 day moving average price of $134.56.

SiTime (NASDAQ:SITMGet Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.02). The firm had revenue of $73.10 million for the quarter, compared to analysts’ expectations of $73.03 million. SiTime had a return on equity of 6.71% and a net margin of 14.95%. On average, analysts predict that SiTime will post 1.04 earnings per share for the current year.

Insider Activity

In other news, insider Lionel Bonnot sold 399 shares of the firm’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $87.00, for a total value of $34,713.00. Following the completion of the sale, the insider now directly owns 104,510 shares of the company’s stock, valued at approximately $9,092,370. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Lionel Bonnot sold 399 shares of SiTime stock in a transaction on Monday, November 7th. The stock was sold at an average price of $87.00, for a total transaction of $34,713.00. Following the completion of the transaction, the insider now directly owns 104,510 shares of the company’s stock, valued at $9,092,370. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Fariborz Assaderaghi sold 468 shares of SiTime stock in a transaction on Monday, August 29th. The stock was sold at an average price of $113.00, for a total value of $52,884.00. Following the transaction, the insider now directly owns 116,685 shares of the company’s stock, valued at $13,185,405. The disclosure for this sale can be found here. Insiders sold 5,026 shares of company stock valued at $500,167 in the last three months. 1.16% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SiTime

Institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. raised its holdings in shares of SiTime by 7.1% in the first quarter. Principal Financial Group Inc. now owns 330,654 shares of the company’s stock worth $81,943,000 after acquiring an additional 21,891 shares during the last quarter. Swiss National Bank raised its holdings in shares of SiTime by 13.9% in the first quarter. Swiss National Bank now owns 31,100 shares of the company’s stock worth $7,707,000 after acquiring an additional 3,800 shares during the last quarter. New York State Teachers Retirement System raised its holdings in shares of SiTime by 41.5% in the second quarter. New York State Teachers Retirement System now owns 21,583 shares of the company’s stock worth $3,519,000 after acquiring an additional 6,327 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of SiTime in the second quarter worth $512,000. Finally, Frontier Capital Management Co. LLC grew its position in shares of SiTime by 285.0% in the second quarter. Frontier Capital Management Co. LLC now owns 343,774 shares of the company’s stock valued at $56,045,000 after purchasing an additional 254,472 shares during the period. 72.84% of the stock is owned by institutional investors and hedge funds.

About SiTime

(Get Rating)

SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. Its solutions have applications in various markets, including communications and enterprise, automotive, industrial, Internet of Things, mobile, consumer, and aerospace and defense.

Read More

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.