SiTime (NASDAQ:SITM) Price Target Raised to $135.00

SiTime (NASDAQ:SITM) had its price objective upped by Barclays from $110.00 to $135.00 in a report published on Thursday morning,Benzinga reports. They currently have an underweight rating on the stock.

Several other research firms have also commented on SITM. Needham & Company LLC raised their price objective on shares of SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Stifel Nicolaus raised their price target on shares of SiTime from $180.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Raymond James reaffirmed an “outperform” rating and set a $250.00 price objective (up previously from $215.00) on shares of SiTime in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, SiTime has an average rating of “Moderate Buy” and a consensus target price of $215.00.

SiTime Stock Performance

SiTime stock opened at $190.01 on Thursday. The company has a market capitalization of $4.51 billion, a PE ratio of -46.92 and a beta of 2.24. SiTime has a fifty-two week low of $105.40 and a fifty-two week high of $268.18. The firm has a 50 day moving average price of $154.37 and a 200 day moving average price of $189.54.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.15. SiTime had a negative return on equity of 10.12% and a negative net margin of 46.18%. The firm had revenue of $60.31 million for the quarter, compared to the consensus estimate of $54.01 million. During the same quarter in the previous year, the business earned ($0.08) EPS. The company’s quarterly revenue was up 82.7% compared to the same quarter last year. As a group, equities research analysts forecast that SiTime will post -2.44 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Fariborz Assaderaghi sold 1,268 shares of the stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $184.92, for a total value of $234,478.56. Following the transaction, the insider now owns 112,316 shares in the company, valued at approximately $20,769,474.72. This represents a 1.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Piyush B. Sevalia sold 1,038 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $157.64, for a total value of $163,630.32. Following the sale, the insider now owns 92,847 shares of the company’s stock, valued at approximately $14,636,401.08. The trade was a 1.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,074 shares of company stock worth $1,195,421 in the last 90 days. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SITM. Mutual of America Capital Management LLC boosted its stake in SiTime by 1.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 2,866 shares of the company’s stock valued at $615,000 after acquiring an additional 48 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of SiTime by 0.5% in the 4th quarter. State of Alaska Department of Revenue now owns 10,755 shares of the company’s stock valued at $2,307,000 after purchasing an additional 57 shares during the period. Blue Trust Inc. grew its stake in SiTime by 44.7% during the 4th quarter. Blue Trust Inc. now owns 217 shares of the company’s stock worth $47,000 after buying an additional 67 shares during the last quarter. Summit Investment Advisors Inc. increased its position in SiTime by 4.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,945 shares of the company’s stock worth $417,000 after buying an additional 83 shares during the period. Finally, Xponance Inc. lifted its stake in SiTime by 7.2% in the first quarter. Xponance Inc. now owns 1,419 shares of the company’s stock valued at $217,000 after buying an additional 95 shares during the last quarter. 84.31% of the stock is owned by hedge funds and other institutional investors.

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.