SiTime (NASDAQ:SITM) Stock Price Expected to Rise, Barclays Analyst Says

SiTime (NASDAQ:SITM) had its price objective boosted by equities researchers at Barclays from $90.00 to $130.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Barclays‘s price target would indicate a potential downside of 42.34% from the stock’s previous close.

Several other equities research analysts also recently commented on SITM. Needham & Company LLC boosted their target price on shares of SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday. Roth Mkm lifted their price target on shares of SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a report on Thursday. Finally, Stifel Nicolaus upped their price objective on shares of SiTime from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th.

SiTime Stock Down 0.0 %

NASDAQ:SITM opened at $225.45 on Friday. The firm has a 50-day moving average price of $169.16 and a 200 day moving average price of $141.31. The firm has a market capitalization of $5.21 billion, a PE ratio of -54.46 and a beta of 1.83. SiTime has a 12-month low of $72.39 and a 12-month high of $228.12.

SiTime (NASDAQ:SITM) last issued its earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.14. The business had revenue of $57.70 million during the quarter, compared to analysts’ expectations of $55.10 million. SiTime had a negative return on equity of 9.88% and a negative net margin of 53.55%. SiTime’s quarterly revenue was up 62.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.81) EPS. On average, research analysts expect that SiTime will post -3.03 EPS for the current year.

Insider Activity

In related news, insider Lionel Bonnot sold 3,230 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $140.55, for a total transaction of $453,976.50. Following the transaction, the insider now owns 87,525 shares in the company, valued at $12,301,638.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other SiTime news, CEO Rajesh Vashist sold 20,000 shares of the stock in a transaction 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 directly owns 424,417 shares in the company, valued at approximately $72,180,599.19. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lionel Bonnot sold 3,230 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $140.55, for a total value of $453,976.50. Following the sale, the insider now owns 87,525 shares of the company’s stock, valued at approximately $12,301,638.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,464 shares of company stock worth $5,372,893. 2.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SiTime

Several hedge funds have recently added to or reduced their stakes in SITM. Signaturefd LLC lifted its position in SiTime by 67.4% during the 3rd quarter. Signaturefd LLC now owns 149 shares of the company’s stock valued at $26,000 after purchasing an additional 60 shares during the period. Nisa Investment Advisors LLC boosted its stake in SiTime by 59.5% in the second quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock valued at $29,000 after acquiring an additional 88 shares during the last quarter. GAMMA Investing LLC grew its holdings in SiTime by 281.0% during the 2nd quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock worth $47,000 after acquiring an additional 281 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of SiTime during the 2nd quarter valued at $49,000. Finally, Van ECK Associates Corp bought a new stake in shares of SiTime during the 3rd quarter valued at $123,000. 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.