Stifel Nicolaus Lowers SiTime (NASDAQ:SITM) Price Target to $180.00

SiTime (NASDAQ:SITM) had its price objective dropped by investment analysts at Stifel Nicolaus from $270.00 to $180.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 39.03% from the stock’s previous close.

Other analysts have also issued reports about the stock. Raymond James restated an “outperform” rating and issued a $250.00 price objective (up from $215.00) on shares of SiTime in a report on Thursday, February 6th. Barclays raised their target price on SiTime from $130.00 to $160.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Finally, Needham & Company LLC upped their price target on SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $214.00.

SiTime Trading Down 0.2 %

NASDAQ:SITM opened at $129.47 on Thursday. The company has a 50-day moving average price of $158.11 and a 200-day moving average price of $191.89. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of -31.97 and a beta of 1.98. SiTime has a 12 month low of $72.39 and a 12 month high of $268.18.

Insider Transactions at SiTime

In related news, insider Piyush B. Sevalia sold 1,038 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $157.64, for a total value of $163,630.32. Following the transaction, the insider now owns 92,847 shares in the company, valued at $14,636,401.08. The trade was a 1.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Fariborz Assaderaghi sold 1,003 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $204.42, for a total transaction of $205,033.26. Following the sale, the insider now owns 99,678 shares of the company’s stock, valued at approximately $20,376,176.76. This represents a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,542 shares of company stock valued at $978,713 in the last ninety days. 2.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fourth Dimension Wealth LLC purchased a new position in SiTime in the 4th quarter worth approximately $25,000. Opal Wealth Advisors LLC bought a new stake in shares of SiTime in the 1st quarter worth $32,000. Blue Trust Inc. raised its stake in shares of SiTime by 44.7% in the fourth quarter. Blue Trust Inc. now owns 217 shares of the company’s stock worth $47,000 after purchasing an additional 67 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of SiTime during the fourth quarter valued at $58,000. Finally, Smartleaf Asset Management LLC boosted its position in shares of SiTime by 278.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company’s stock valued at $60,000 after buying an additional 206 shares during the last quarter. 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.