SiTime (NASDAQ:SITM) Given New $130.00 Price Target at Barclays

SiTime (NASDAQ:SITM) had its price objective boosted by Barclays from $90.00 to $130.00 in a research note issued to investors on Friday morning,Benzinga reports. Barclays currently has an underweight rating on the stock.

Other equities research analysts have also issued research reports about the company. Needham & Company LLC lifted their price objective on SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Roth Mkm lifted their price objective on SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Stifel Nicolaus lifted their price objective on SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 17th.

SiTime Price Performance

SiTime stock opened at $215.26 on Friday. SiTime has a one year low of $72.39 and a one year high of $228.12. The business has a fifty day moving average price of $169.16 and a 200-day moving average price of $142.24. The firm has a market capitalization of $4.98 billion, a P/E ratio of -52.00 and a beta of 1.83.

SiTime (NASDAQ:SITM) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.14. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. The firm had revenue of $57.70 million during the quarter, compared to analyst estimates of $55.10 million. During the same period last year, the company earned ($0.81) earnings per share. The business’s revenue for the quarter was up 62.4% on a year-over-year basis. Sell-side analysts expect that SiTime will post -3.03 earnings per share for the current fiscal year.

Insider Buying and Selling at SiTime

In other SiTime news, insider Samsheer Ahamad sold 4,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $172.73, for a total transaction of $690,920.00. Following the sale, the insider now owns 78,979 shares in the company, valued at $13,642,042.67. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Samsheer Ahamad sold 4,000 shares of SiTime stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $172.73, for a total value of $690,920.00. Following the transaction, the insider now owns 78,979 shares in the company, valued at approximately $13,642,042.67. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Fariborz Assaderaghi sold 1,083 shares of SiTime stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $139.05, for a total value of $150,591.15. Following the completion of the transaction, the insider now owns 112,584 shares in the company, valued at approximately $15,654,805.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,464 shares of company stock worth $5,372,893 over the last 90 days. Corporate insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SITM. Signaturefd LLC increased its holdings 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 increased its holdings in SiTime by 59.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock valued at $29,000 after purchasing an additional 88 shares during the period. GAMMA Investing LLC increased its holdings in SiTime by 281.0% during the 2nd quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock valued at $47,000 after purchasing an additional 281 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new position in SiTime during the 2nd quarter valued at about $49,000. Finally, Bessemer Group Inc. increased its holdings in SiTime by 70.1% during the 1st quarter. Bessemer Group Inc. now owns 1,213 shares of the company’s stock valued at $113,000 after purchasing an additional 500 shares during the period. Hedge funds and other institutional investors own 84.31% of the company’s stock.

About SiTime

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.