SiTime (NASDAQ:SITM) Given Outperform Rating at Raymond James

Raymond James reissued their outperform rating on shares of SiTime (NASDAQ:SITM) in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a $250.00 price objective on the stock, up from their previous price objective of $215.00.

Several other research analysts have also issued reports on SITM. Needham & Company LLC increased their target price on shares of SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday. Stifel Nicolaus increased their price objective on shares of SiTime from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday. Barclays boosted their target price on SiTime from $130.00 to $160.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. Finally, Roth Mkm increased their price target on SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat, SiTime has an average rating of “Moderate Buy” and an average target price of $232.00.

SiTime Price Performance

SITM stock opened at $176.32 on Thursday. SiTime has a 1-year low of $72.39 and a 1-year high of $268.18. The stock has a 50-day moving average price of $228.56 and a 200-day moving average price of $186.46.

SiTime (NASDAQ:SITM) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.14. The firm had revenue of $57.70 million for the quarter, compared to analyst estimates of $55.10 million. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. The company’s revenue was up 62.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.81) earnings per share. As a group, equities research analysts forecast that SiTime will post -2.98 earnings per share for the current year.

Insider Transactions at SiTime

In other news, insider Fariborz Assaderaghi sold 1,003 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $204.42, for a total value of $205,033.26. Following the completion of the sale, the insider now directly owns 99,678 shares of the company’s stock, valued at $20,376,176.76. This represents a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Raman Chitkara sold 500 shares of SiTime stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $265.00, for a total value of $132,500.00. Following the transaction, the director now directly owns 20,719 shares in the company, valued at approximately $5,490,535. The trade was a 2.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,934 shares of company stock valued at $5,206,598 over the last three months. Corporate insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On SiTime

Several institutional investors and hedge funds have recently added to or reduced their stakes in SITM. Barclays PLC grew its stake in SiTime by 80.7% in the 3rd quarter. Barclays PLC now owns 37,982 shares of the company’s stock valued at $6,515,000 after purchasing an additional 16,964 shares during the period. LMR Partners LLP grew its stake in SiTime by 705.0% in the 3rd quarter. LMR Partners LLP now owns 80,500 shares of the company’s stock valued at $13,807,000 after buying an additional 70,500 shares in the last quarter. Creative Planning bought a new stake in shares of SiTime during the 3rd quarter valued at $842,000. FMR LLC lifted its holdings in shares of SiTime by 1.1% in the third quarter. FMR LLC now owns 3,469,843 shares of the company’s stock worth $595,113,000 after buying an additional 39,119 shares in the last quarter. Finally, Swedbank AB boosted its holdings in SiTime by 21.7% in the 3rd quarter. Swedbank AB now owns 28,000 shares of the company’s stock valued at $4,802,000 after purchasing an additional 5,000 shares during the period. Hedge funds and other institutional investors own 84.31% of the company’s stock.

SiTime Company Profile

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.