Barclays Raises SiTime (NASDAQ:SITM) Price Target to $135.00

SiTime (NASDAQ:SITM) had its target price lifted by Barclays from $110.00 to $135.00 in a research note released on Thursday,Benzinga reports. They currently have an underweight rating on the stock.

A number of other equities research analysts have also weighed in on SITM. Stifel Nicolaus lifted their price objective on SiTime from $180.00 to $210.00 and gave the company a “buy” rating in a report on Thursday. Needham & Company LLC upped their price objective on SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Finally, Raymond James reiterated an “outperform” rating and issued a $250.00 price objective (up previously from $215.00) on shares of SiTime in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $215.00.

SiTime Trading Up 0.8 %

Shares of SITM stock opened at $190.01 on Thursday. SiTime has a twelve month low of $105.40 and a twelve month high of $268.18. The business’s 50 day moving average is $154.37 and its two-hundred day moving average is $189.54. The company has a market capitalization of $4.51 billion, a P/E ratio of -46.92 and a beta of 2.24.

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

Insider Buying and Selling

In other news, insider Piyush B. Sevalia sold 1,038 shares of SiTime stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $157.64, for a total transaction of $163,630.32. Following the completion of the transaction, the insider now owns 92,847 shares of the company’s stock, valued at $14,636,401.08. The trade was a 1.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Lionel Bonnot sold 3,501 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $174.25, for a total transaction of $610,049.25. Following the completion of the sale, the insider now owns 87,940 shares in the company, valued at $15,323,545. This represents a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,074 shares of company stock valued at $1,195,421. 2.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SITM. Mutual of America Capital Management LLC grew its holdings in SiTime by 1.7% during the 4th quarter. Mutual of America Capital Management LLC now owns 2,866 shares of the company’s stock valued at $615,000 after buying an additional 48 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of SiTime by 0.5% in the fourth quarter. State of Alaska Department of Revenue now owns 10,755 shares of the company’s stock valued at $2,307,000 after acquiring an additional 57 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of SiTime by 44.7% during 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 last quarter. Summit Investment Advisors Inc. increased its position in SiTime by 4.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,945 shares of the company’s stock worth $417,000 after purchasing an additional 83 shares in the last quarter. Finally, Xponance Inc. raised its stake in SiTime by 7.2% in the 1st quarter. Xponance Inc. now owns 1,419 shares of the company’s stock valued at $217,000 after purchasing an additional 95 shares during the last quarter. 84.31% of the stock is owned by hedge funds and other 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.