Sitime (NASDAQ:SITM) Earns Outperform Rating from Analysts at William Blair

William Blair initiated coverage on shares of Sitime (NASDAQ:SITM) in a research report released on Tuesday morning, BenzingaRatingsTable reports. The firm issued an outperform rating on the stock.

Several other research firms also recently weighed in on SITM. BTIG Research reduced their price target on shares of Sitime from $11.00 to $6.00 and set a buy rating for the company in a research report on Thursday, April 9th. Roth Capital upped their price target on shares of Sitime from $40.00 to $50.00 and gave the stock a buy rating in a research report on Tuesday, June 16th. Needham & Company LLC upped their price target on shares of Sitime from $27.00 to $40.00 and gave the stock a buy rating in a research report on Monday, June 15th. Barclays upped their price target on shares of Sitime from $24.00 to $50.00 and gave the stock an overweight rating in a research report on Wednesday, June 17th. Finally, Stifel Nicolaus reduced their price target on shares of Sitime from $28.00 to $26.00 and set a buy rating for the company in a research report on Thursday, April 16th. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. Sitime has a consensus rating of Buy and a consensus price target of $35.67.

Shares of Sitime stock opened at $45.85 on Tuesday. The firm has a 50-day simple moving average of $36.29 and a two-hundred day simple moving average of $26.62. The company has a market cap of $786.32 million and a P/E ratio of -72.78. Sitime has a fifty-two week low of $15.42 and a fifty-two week high of $50.43.

Sitime (NASDAQ:SITM) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.22. The firm had revenue of $21.74 million during the quarter, compared to analyst estimates of $20.47 million. As a group, sell-side analysts expect that Sitime will post -1.02 earnings per share for the current fiscal year.

In other Sitime news, insider Lionel Bonnot sold 1,678 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $35.00, for a total value of $58,730.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Corp Megachips sold 2,500,000 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $32.00, for a total transaction of $80,000,000.00. Following the completion of the sale, the insider now owns 7,500,000 shares of the company’s stock, valued at approximately $240,000,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,510,378 shares of company stock valued at $80,319,550. 0.80% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the company. Strs Ohio purchased a new stake in shares of Sitime in the 1st quarter valued at approximately $28,000. Citigroup Inc. grew its stake in shares of Sitime by 424.5% in the 1st quarter. Citigroup Inc. now owns 1,390 shares of the company’s stock valued at $30,000 after buying an additional 1,125 shares during the period. Deutsche Bank AG purchased a new stake in shares of Sitime in the 1st quarter valued at approximately $34,000. UBS Group AG purchased a new stake in shares of Sitime in the 1st quarter valued at approximately $61,000. Finally, American International Group Inc. purchased a new stake in shares of Sitime in the 1st quarter valued at approximately $63,000. 31.22% of the stock is owned by institutional investors and hedge funds.

About Sitime

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Analyst Recommendations for Sitime (NASDAQ:SITM)

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