SiTime (NASDAQ:SITM) Price Target Raised to $375.00 at UBS Group

SiTime (NASDAQ:SITM) had its target price lifted by UBS Group from $355.00 to $375.00 in a research report sent to investors on Thursday,Benzinga reports. UBS Group currently has a buy rating on the stock.

SITM has been the subject of several other reports. Barclays boosted their price objective on SiTime from $220.00 to $260.00 and gave the stock an “underweight” rating in a research report on Thursday. Raymond James Financial reiterated an “outperform” rating and set a $270.00 price target (up previously from $250.00) on shares of SiTime in a research report on Friday, August 29th. Stifel Nicolaus raised their price target on SiTime from $230.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, September 18th. Needham & Company LLC upped their price objective on shares of SiTime from $250.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of SiTime in a research report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $329.17.

SiTime Stock Performance

Shares of SiTime stock traded down $12.87 during trading on Thursday, hitting $326.94. 526,807 shares of the stock were exchanged, compared to its average volume of 337,387. SiTime has a 12 month low of $105.40 and a 12 month high of $386.00. The stock’s fifty day moving average is $280.90 and its 200 day moving average is $229.15. The stock has a market cap of $8.50 billion, a PE ratio of -110.45 and a beta of 2.36.

SiTime (NASDAQ:SITM) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.16. SiTime had a negative net margin of 25.18% and a negative return on equity of 6.16%. The firm had revenue of $83.57 million for the quarter, compared to the consensus estimate of $78.08 million. During the same period last year, the firm posted $0.40 EPS. SiTime’s quarterly revenue was up 44.8% compared to the same quarter last year. Sell-side analysts anticipate that SiTime will post -2.44 EPS for the current fiscal year.

Insider Buying and Selling at SiTime

In other SiTime news, insider Fariborz Assaderaghi sold 3,000 shares of the business’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $231.75, for a total value of $695,250.00. Following the sale, the insider directly owned 90,433 shares in the company, valued at approximately $20,957,847.75. The trade was a 3.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Samsheer Ahamad sold 6,000 shares of the company’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $250.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the insider directly owned 61,888 shares of the company’s stock, valued at $15,472,000. The trade was a 8.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 34,867 shares of company stock valued at $9,168,213. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of SiTime

Large investors have recently added to or reduced their stakes in the business. CenterBook Partners LP bought a new position in shares of SiTime in the third quarter valued at $1,866,000. Essex Financial Services Inc. bought a new stake in shares of SiTime during the 3rd quarter worth $290,000. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of SiTime by 785.0% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 885 shares of the company’s stock worth $267,000 after acquiring an additional 785 shares during the last quarter. Vanguard Group Inc. raised its position in shares of SiTime by 4.7% during the third quarter. Vanguard Group Inc. now owns 2,764,066 shares of the company’s stock worth $832,841,000 after purchasing an additional 123,287 shares during the period. Finally, State of New Jersey Common Pension Fund D raised its position in shares of SiTime by 2.9% during the third quarter. State of New Jersey Common Pension Fund D now owns 9,500 shares of the company’s stock worth $2,862,000 after purchasing an additional 269 shares during the period. 84.31% of the stock is currently owned by 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.