SiTime (NASDAQ:SITM) Price Target Raised to $180.00

SiTime (NASDAQ:SITM) had its target price lifted by Barclays from $135.00 to $180.00 in a report released on Wednesday,Benzinga reports. They currently have an underweight rating on the stock.

Separately, Stifel Nicolaus upped their price objective on shares of SiTime from $180.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $224.00.

SiTime Stock Down 1.8%

SiTime stock opened at $210.27 on Wednesday. The company’s fifty day simple moving average is $175.79 and its 200-day simple moving average is $190.91. SiTime has a 12 month low of $105.40 and a 12 month high of $268.18. The stock has a market cap of $4.99 billion, a P/E ratio of -51.92 and a beta of 2.24.

SiTime (NASDAQ:SITM) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.11 by $0.15. The business had revenue of $60.31 million during the quarter, compared to analysts’ expectations of $54.01 million. SiTime had a negative return on equity of 10.12% and a negative net margin of 46.18%. The firm’s quarterly revenue was up 82.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.08) EPS. On average, equities research analysts expect that SiTime will post -2.44 earnings per share for the current fiscal year.

Insider Activity at SiTime

In related news, insider Fariborz Assaderaghi sold 1,268 shares of SiTime stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $184.92, for a total transaction of $234,478.56. Following the completion of the transaction, the insider now owns 112,316 shares in the company, valued at approximately $20,769,474.72. This trade represents a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Piyush B. Sevalia sold 1,039 shares of SiTime stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $220.00, for a total value of $228,580.00. Following the transaction, the insider now owns 85,516 shares of the company’s stock, valued at $18,813,520. This represents a 1.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 63,818 shares of company stock valued at $13,171,258. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On SiTime

Institutional investors have recently made changes to their positions in the company. Fourth Dimension Wealth LLC bought a new stake in SiTime in the 4th quarter valued at $25,000. Opal Wealth Advisors LLC bought a new stake in shares of SiTime in the first quarter valued at about $32,000. Blue Trust Inc. boosted its position in shares of SiTime by 44.7% in the fourth quarter. Blue Trust Inc. now owns 217 shares of the company’s stock valued at $47,000 after acquiring an additional 67 shares during the period. Advisors Asset Management Inc. boosted its position in shares of SiTime by 33.6% in the first quarter. Advisors Asset Management Inc. now owns 350 shares of the company’s stock valued at $54,000 after acquiring an additional 88 shares during the period. Finally, Aster Capital Management DIFC Ltd bought a new stake in SiTime in the 4th quarter valued at about $58,000. Institutional investors own 84.31% of the company’s stock.

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.