SiTime (NASDAQ:SITM) Lowered to Underweight at Barclays

SiTime (NASDAQ:SITM) was downgraded by research analysts at Barclays from an “equal weight” rating to an “underweight” rating in a report released on Tuesday, Briefing.com reports. They currently have a $90.00 price target on the stock. Barclays‘s price target would suggest a potential downside of 37.72% from the stock’s previous close.

A number of other research firms have also recently commented on SITM. Stifel Nicolaus lifted their price objective on shares of SiTime from $150.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $130.00 target price on shares of SiTime in a report on Tuesday, June 25th.

SiTime Stock Down 0.2 %

NASDAQ:SITM opened at $144.52 on Tuesday. SiTime has a twelve month low of $72.39 and a twelve month high of $165.11. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of -34.99 and a beta of 1.82. The stock’s 50 day moving average price is $135.29 and its two-hundred day moving average price is $113.68.

SiTime (NASDAQ:SITM) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.08. The company had revenue of $43.90 million for the quarter, compared to analyst estimates of $41.01 million. SiTime had a negative net margin of 60.46% and a negative return on equity of 10.53%. SiTime’s revenue for the quarter was up 58.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.17) EPS. As a group, analysts anticipate that SiTime will post -3.03 earnings per share for the current year.

Insider Transactions at SiTime

In related news, insider Fariborz Assaderaghi sold 1,083 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $121.61, for a total value of $131,703.63. Following the completion of the sale, the insider now directly owns 104,186 shares in the company, valued at $12,670,059.46. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Piyush B. Sevalia sold 1,242 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $125.36, for a total value of $155,697.12. Following the completion of the transaction, the executive vice president now directly owns 90,451 shares in the company, valued at approximately $11,338,937.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Fariborz Assaderaghi sold 1,083 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $121.61, for a total transaction of $131,703.63. Following the sale, the insider now owns 104,186 shares in the company, valued at approximately $12,670,059.46. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,497 shares of company stock valued at $6,783,275. 2.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SiTime

Several hedge funds and other institutional investors have recently made changes to their positions in SITM. Pineridge Advisors LLC bought a new position in shares of SiTime in the 4th quarter valued at $25,000. Nisa Investment Advisors LLC increased its holdings in SiTime by 59.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock worth $29,000 after purchasing an additional 88 shares in the last quarter. Quadrant Capital Group LLC raised its position in SiTime by 78.2% in the fourth quarter. Quadrant Capital Group LLC now owns 335 shares of the company’s stock valued at $41,000 after purchasing an additional 147 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of SiTime by 281.0% during the second quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock valued at $47,000 after purchasing an additional 281 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of SiTime during the second quarter worth about $49,000. 84.31% of the stock is 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.