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

SiTime (NASDAQ:SITM) had its target price hoisted by equities researchers at Stifel Nicolaus from $230.00 to $250.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ target price indicates a potential upside of 3.14% from the stock’s current price.

Several other brokerages have also recently commented on SITM. Roth Mkm upped their target price on shares of SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Barclays lifted their price objective on SiTime from $90.00 to $130.00 and gave the company an “underweight” rating in a report on Friday, November 8th. Finally, Needham & Company LLC boosted their price target on SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

SiTime Trading Up 3.4 %

SITM traded up $8.05 on Monday, hitting $242.40. 55,193 shares of the stock traded hands, compared to its average volume of 109,648. The business has a fifty day moving average price of $214.87 and a two-hundred day moving average price of $171.60. The firm has a market capitalization of $5.66 billion, a PE ratio of -58.55 and a beta of 1.82. SiTime has a 52 week low of $72.39 and a 52 week high of $268.18.

SiTime (NASDAQ:SITM) last issued its earnings results on Wednesday, November 6th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.14. The business 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%. SiTime’s revenue was up 62.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.81) earnings per share. On average, equities research analysts forecast that SiTime will post -2.98 EPS for the current fiscal year.

Insider Activity

In other SiTime news, CEO Rajesh Vashist sold 12,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 24,781 shares in the company, 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 legal filing with the SEC, which is available at this hyperlink. Also, insider Fariborz Assaderaghi sold 363 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $216.25, for a total value of $78,498.75. Following the transaction, the insider now owns 104,322 shares in the company, valued at approximately $22,559,632.50. This trade represents a 0.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,931 shares of company stock valued at $7,017,644 over the last ninety days. 2.30% of the stock is currently owned by company insiders.

Institutional Trading of SiTime

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Signaturefd LLC increased its holdings in shares of SiTime by 67.4% during the third quarter. Signaturefd LLC now owns 149 shares of the company’s stock worth $26,000 after purchasing an additional 60 shares during the period. Van ECK Associates Corp bought a new position in SiTime during the 3rd quarter worth $123,000. GAMMA Investing LLC raised its holdings in SiTime by 95.0% in the 3rd quarter. GAMMA Investing LLC now owns 743 shares of the company’s stock valued at $127,000 after acquiring an additional 362 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of SiTime during the 3rd quarter valued at $166,000. Finally, Virtu Financial LLC acquired a new stake in shares of SiTime during the 3rd quarter worth $204,000. Institutional investors and hedge funds 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.