SiTime (NASDAQ:SITM) Price Target Raised to $250.00

SiTime (NASDAQ:SITMFree Report) had its price objective raised by Stifel Nicolaus from $230.00 to $250.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a buy rating on the stock.

SITM has been the subject of a number of other research reports. Barclays raised their price target on shares of SiTime from $90.00 to $130.00 and gave the company an “underweight” rating in a report on Friday, November 8th. Needham & Company LLC boosted their target price on SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Roth Mkm upped their price target on SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, November 7th.

Read Our Latest Report on SITM

SiTime Stock Performance

Shares of SITM opened at $233.20 on Monday. The company has a market cap of $5.45 billion, a price-to-earnings ratio of -56.33 and a beta of 1.82. The stock has a fifty day moving average price of $217.87 and a two-hundred day moving average price of $173.99. SiTime has a 52-week low of $72.39 and a 52-week high of $268.18.

SiTime (NASDAQ:SITMGet Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.14. The company had revenue of $57.70 million during 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 firm’s quarterly revenue was up 62.4% compared to the same quarter last year. During the same period last year, the company posted ($0.81) earnings per share. As a group, research analysts predict that SiTime will post -2.98 EPS for the current fiscal year.

Insider Transactions at SiTime

In other news, CEO Rajesh Vashist sold 12,000 shares of SiTime stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $259.25, for a total transaction of $3,111,000.00. Following the transaction, the chief executive officer now directly owns 24,781 shares of the company’s stock, valued at $6,424,474.25. This trade represents a 32.63 % 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, insider Fariborz Assaderaghi sold 1,002 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $220.94, for a total transaction of $221,381.88. Following the completion of the sale, the insider now owns 100,681 shares of the company’s stock, valued at approximately $22,244,460.14. This represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,931 shares of company stock worth $7,017,644 in the last three months. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC lifted its holdings in shares of 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 in the last quarter. Van ECK Associates Corp acquired a new stake in SiTime during the 3rd quarter worth approximately $123,000. GAMMA Investing LLC lifted its stake in SiTime by 95.0% in the third quarter. GAMMA Investing LLC now owns 743 shares of the company’s stock valued at $127,000 after buying an additional 362 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of SiTime in the third quarter valued at approximately $166,000. Finally, Virtu Financial LLC bought a new stake in shares of SiTime during the third quarter worth $204,000. 84.31% of the stock is owned by institutional investors and hedge funds.

About SiTime

(Get Free Report)

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.

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