SiTime (NASDAQ:SITM) Stock Price Expected to Rise, UBS Group Analyst Says

SiTime (NASDAQ:SITM) had its target price increased by equities researchers at UBS Group from $355.00 to $375.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price objective points to a potential upside of 8.55% from the company’s current price.

SITM has been the subject of a number of other research reports. Raymond James Financial reiterated an “outperform” rating and issued a $270.00 price objective (up previously from $250.00) on shares of SiTime in a report on Friday, August 29th. Needham & Company LLC increased their price objective on SiTime from $250.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday. Barclays raised their price objective on SiTime from $220.00 to $260.00 and gave the company an “underweight” rating in a research note on Thursday. Roth Capital reissued a “buy” rating and set a $350.00 price objective on shares of SiTime in a research note on Thursday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of SiTime in a research report on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, SiTime currently has an average rating of “Moderate Buy” and a consensus price target of $309.29.

SiTime Stock Performance

SiTime stock traded up $66.38 during trading hours on Thursday, hitting $345.45. The company had a trading volume of 1,207,951 shares, compared to its average volume of 334,731. SiTime has a 1 year low of $105.40 and a 1 year high of $386.00. The firm has a market cap of $8.98 billion, a P/E ratio of -99.58 and a beta of 2.36. The company has a 50-day moving average price of $278.97 and a two-hundred day moving average price of $228.38.

SiTime (NASDAQ:SITM) last announced its earnings results on Wednesday, November 5th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.16. The company had revenue of $83.57 million for the quarter, compared to analyst estimates of $78.08 million. SiTime had a negative return on equity of 7.54% and a negative net margin of 32.15%.The firm’s quarterly revenue was up 44.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.40 EPS. As a group, equities research analysts anticipate that SiTime will post -2.44 EPS for the current year.

Insider Buying and Selling at SiTime

In other SiTime news, EVP Elizabeth A. Howe sold 5,099 shares of the stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $319.00, for a total value of $1,626,581.00. Following the transaction, the executive vice president owned 59,070 shares of the company’s stock, valued at approximately $18,843,330. This represents a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Samsheer Ahamad sold 6,000 shares of SiTime stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $250.00, for a total value of $1,500,000.00. Following the sale, the insider directly owned 61,888 shares of the company’s stock, valued at $15,472,000. This represents a 8.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 34,867 shares of company stock valued at $9,168,213 over the last ninety days. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Game Plan Financial Advisors LLC purchased a new position in SiTime in the second quarter worth $25,000. Hantz Financial Services Inc. increased its stake in shares of SiTime by 190.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 90 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares in the last quarter. Salomon & Ludwin LLC purchased a new stake in shares of SiTime in the 3rd quarter worth approximately $47,000. Global Retirement Partners LLC increased its holdings in shares of SiTime by 3,220.0% during the third quarter. Global Retirement Partners LLC now owns 166 shares of the company’s stock valued at $50,000 after acquiring an additional 161 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of SiTime by 33.6% during 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 in the last quarter. 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.