SiTime (NASDAQ:SITM) PT Raised to $200.00

SiTime (NASDAQ:SITM) had its target price raised by equities research analysts at Stifel Nicolaus from $175.00 to $200.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 15.27% from the stock’s previous close.

Several other research firms have also recently commented on SITM. Barclays cut SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 price target on the stock. in a research note on Tuesday, August 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 price target on shares of SiTime in a report on Tuesday, June 25th.

SiTime Stock Up 0.7 %

Shares of SiTime stock traded up $1.16 during trading hours on Thursday, hitting $173.50. The company’s stock had a trading volume of 48,010 shares, compared to its average volume of 206,170. The company has a market capitalization of $3.97 billion, a PE ratio of -42.13 and a beta of 1.82. The business has a fifty day moving average of $153.23 and a 200 day moving average of $129.61. SiTime has a 1-year low of $72.39 and a 1-year high of $188.98.

SiTime (NASDAQ:SITM) last announced its earnings results on Wednesday, August 7th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.04 by $0.08. The business had revenue of $43.90 million for the quarter, compared to the consensus estimate of $41.01 million. SiTime had a negative return on equity of 10.53% and a negative net margin of 60.46%. The company’s revenue was up 58.5% on a year-over-year basis. During the same period last year, the business posted ($1.17) EPS. On average, sell-side analysts anticipate that SiTime will post -3.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Fariborz Assaderaghi sold 1,083 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $143.31, for a total transaction of $155,204.73. Following the completion of the transaction, the insider now owns 103,103 shares of the company’s stock, valued at approximately $14,775,690.93. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Fariborz Assaderaghi sold 1,083 shares of SiTime stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $143.31, for a total transaction of $155,204.73. Following the sale, the insider now owns 103,103 shares of the company’s stock, valued at approximately $14,775,690.93. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Rajesh Vashist sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $170.07, for a total value of $3,401,400.00. Following the transaction, the chief executive officer now owns 424,417 shares of the company’s stock, valued at approximately $72,180,599.19. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,547 shares of company stock valued at $5,361,178 over the last three months. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On SiTime

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bleakley Financial Group LLC increased its stake in SiTime by 28.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 2,672 shares of the company’s stock valued at $458,000 after buying an additional 595 shares during the period. Swedbank AB lifted its position in SiTime by 21.7% in the third quarter. Swedbank AB now owns 28,000 shares of the company’s stock worth $4,802,000 after purchasing an additional 5,000 shares during the period. Creative Planning acquired a new stake in shares of SiTime in the third quarter valued at $842,000. GAMMA Investing LLC boosted its position in shares of SiTime by 95.0% during the 3rd quarter. GAMMA Investing LLC now owns 743 shares of the company’s stock valued at $127,000 after purchasing an additional 362 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its position in SiTime by 17.7% in the third quarter. Handelsbanken Fonder AB now owns 5,984 shares of the company’s stock worth $1,026,000 after buying an additional 900 shares during the last quarter. 84.31% of the stock is currently owned by institutional investors.

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.