Stifel Nicolaus Boosts SiTime (NASDAQ:SITM) Price Target to $200.00

SiTime (NASDAQ:SITM) had its target price hoisted by Stifel Nicolaus from $175.00 to $200.00 in a research note released on Thursday morning, MarketBeat reports. Stifel Nicolaus currently has a buy rating on the stock.

Several other equities research analysts have also recently weighed in on SITM. Barclays cut SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 target price for the company. in a report on Tuesday, August 27th. Needham & Company LLC restated a “buy” rating and issued a $130.00 target price on shares of SiTime in a report on Tuesday, June 25th.

SiTime Price Performance

Shares of SiTime stock opened at $174.97 on Thursday. SiTime has a 1 year low of $72.39 and a 1 year high of $188.98. The firm has a market cap of $4.00 billion, a PE ratio of -42.37 and a beta of 1.82. The company has a 50 day simple moving average of $155.16 and a two-hundred day simple moving average of $130.75.

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

Insider Activity

In other SiTime news, insider Piyush B. Sevalia sold 1,338 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $180.00, for a total transaction of $240,840.00. Following the completion of the transaction, the insider now owns 86,196 shares of the company’s stock, valued at approximately $15,515,280. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Piyush B. Sevalia sold 1,338 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $180.00, for a total transaction of $240,840.00. Following the completion of the transaction, the insider now owns 86,196 shares of the company’s stock, valued at $15,515,280. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Fariborz Assaderaghi sold 1,003 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $165.13, for a total value of $165,625.39. Following the completion of the sale, the insider now directly owns 110,578 shares in the company, valued at $18,259,745.14. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,547 shares of company stock worth $5,361,178 in the last quarter. 2.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On SiTime

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of SiTime by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 2,117,486 shares of the company’s stock valued at $258,503,000 after purchasing an additional 50,876 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of SiTime by 35.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 689 shares of the company’s stock valued at $84,000 after buying an additional 180 shares during the period. NBC Securities Inc. grew its holdings in shares of SiTime by 38.5% in the first quarter. NBC Securities Inc. now owns 4,915 shares of the company’s stock worth $458,000 after acquiring an additional 1,367 shares during the period. Jennison Associates LLC increased its position in SiTime by 0.9% during the first quarter. Jennison Associates LLC now owns 175,272 shares of the company’s stock valued at $16,341,000 after acquiring an additional 1,502 shares during the last quarter. Finally, Texas Permanent School Fund Corp lifted its holdings in SiTime by 2.4% in the first quarter. Texas Permanent School Fund Corp now owns 15,292 shares of the company’s stock valued at $1,426,000 after acquiring an additional 357 shares during the period. 84.31% of the stock is owned by institutional investors.

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.