Fintel reports that on May 9, 2024, Needham upgraded their outlook for SiTime (NasdaqGM:SITM) from Hold to Buy.
Analyst Price Forecast Suggests 18.97% Upside
As of May 8, 2024, the average one-year price target for SiTime is 147.90. The forecasts range from a low of 131.30 to a high of $168.00. The average price target represents an increase of 18.97% from its latest reported closing price of 124.32.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for SiTime is 305MM, an increase of 126.33%. The projected annual non-GAAP EPS is 2.91.
What is the Fund Sentiment?
There are 521 funds or institutions reporting positions in SiTime. This is an decrease of 5 owner(s) or 0.95% in the last quarter. Average portfolio weight of all funds dedicated to SITM is 0.20%, an increase of 6.36%. Total shares owned by institutions increased in the last three months by 0.82% to 22,432K shares. 
The put/call ratio of SITM is 0.24, indicating a bullish outlook.
What are Other Shareholders Doing?
Franklin Resources holds 1,199K shares representing 5.24% ownership of the company. In its prior filing, the firm reported owning 1,199K shares , representing an increase of 0.02%. The firm decreased its portfolio allocation in SITM by 77.84% over the last quarter.
IJR – iShares Core S&P Small-Cap ETF holds 1,159K shares representing 5.07% ownership of the company. In its prior filing, the firm reported owning 1,155K shares , representing an increase of 0.34%. The firm decreased its portfolio allocation in SITM by 7.28% over the last quarter.
Wasatch Advisors holds 892K shares representing 3.90% ownership of the company. In its prior filing, the firm reported owning 892K shares , representing a decrease of 0.05%. The firm decreased its portfolio allocation in SITM by 27.53% over the last quarter.
Ameriprise Financial holds 608K shares representing 2.66% ownership of the company. In its prior filing, the firm reported owning 614K shares , representing a decrease of 0.92%. The firm decreased its portfolio allocation in SITM by 3.45% over the last quarter.
FDGRX – Fidelity Growth Company Fund holds 583K shares representing 2.55% ownership of the company. In its prior filing, the firm reported owning 590K shares , representing a decrease of 1.22%. The firm decreased its portfolio allocation in SITM by 29.42% over the last quarter.
SiTime Background Information
(This description is provided by the company.)
SiTime Corporation is a market leader in silicon MEMS timing. Its programmable solutions offer a rich feature set that enables customers to differentiate their products with higher performance, smaller size, lower power, and better reliability. With over 2 billion devices shipped, SiTime is changing the timing industry.
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This story originally appeared on Fintel.
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