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

SiTime (NASDAQ:SITM) had its target price raised by Stifel Nicolaus from $175.00 to $200.00 in a research report report published on Thursday morning, Marketbeat Ratings reports. Stifel Nicolaus currently has a buy rating on the stock.

A number of other brokerages have also weighed in on SITM. Needham & Company LLC restated a “buy” rating and issued a $130.00 target price on shares of SiTime in a research report on Tuesday, June 25th. Barclays downgraded SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 price objective on the stock. in a report on Tuesday, August 27th.

SiTime Stock Performance

SiTime stock opened at $174.97 on Thursday. The stock has a fifty day moving average of $155.16 and a 200-day moving average of $131.04. The stock has a market capitalization of $4.00 billion, a P/E ratio of -42.37 and a beta of 1.82. SiTime has a 52 week low of $72.39 and a 52 week high of $188.98.

SiTime (NASDAQ:SITM) last posted its earnings results on Wednesday, August 7th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.08. The firm had revenue of $43.90 million during the quarter, compared to analysts’ expectations of $41.01 million. SiTime had a negative net margin of 60.46% and a negative return on equity of 10.53%. The business’s revenue for the quarter was up 58.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.17) earnings per share. On average, research analysts forecast that SiTime will post -3.03 earnings per share for the current year.

Insider Buying and Selling

In other SiTime news, insider Fariborz Assaderaghi sold 1,003 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.13, for a total value of $165,625.39. Following the completion of the transaction, the insider now directly owns 110,578 shares in the company, valued at approximately $18,259,745.14. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Samsheer Ahamad sold 4,000 shares of SiTime stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $131.00, for a total value of $524,000.00. Following the transaction, the insider now directly owns 78,856 shares of the company’s stock, valued at $10,330,136. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Fariborz Assaderaghi sold 1,003 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.13, for a total transaction of $165,625.39. Following the sale, the insider now directly owns 110,578 shares of the company’s stock, valued at $18,259,745.14. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,547 shares of company stock worth $5,361,178 in the last ninety days. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On SiTime

A number of institutional investors have recently modified their holdings of SITM. Vanguard Group Inc. raised its position in shares of SiTime by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 2,117,486 shares of the company’s stock worth $258,503,000 after acquiring an additional 50,876 shares in the last quarter. PNC Financial Services Group Inc. grew its position 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 worth $84,000 after buying an additional 180 shares during the period. NBC Securities Inc. grew its position in shares of SiTime by 38.5% during the 1st quarter. NBC Securities Inc. now owns 4,915 shares of the company’s stock worth $458,000 after buying an additional 1,367 shares during the period. Jennison Associates LLC grew its position in shares of SiTime by 0.9% during the 1st quarter. Jennison Associates LLC now owns 175,272 shares of the company’s stock worth $16,341,000 after buying an additional 1,502 shares during the period. Finally, Texas Permanent School Fund Corp lifted its position in shares of SiTime by 2.4% during the 1st 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.

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.