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

by · The Markets Daily

SiTime (NASDAQ:SITM – Free Report) had its target price lifted by Stifel Nicolaus from $175.00 to $200.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the stock. Needham & Company LLC reissued a “buy” rating and issued a $130.00 price objective 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 target for the company. in a report on Tuesday, August 27th.

View Our Latest Research Report on SiTime

SiTime Stock Up 0.4 %

Shares of NASDAQ SITM opened at $173.00 on Thursday. The stock has a market capitalization of $3.96 billion, a PE ratio of -41.89 and a beta of 1.82. The firm has a fifty day moving average of $154.20 and a 200-day moving average of $129.91. SiTime has a 52-week low of $72.39 and a 52-week high of $188.98.

SiTime (NASDAQ:SITM – Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.08. SiTime had a negative return on equity of 10.53% and a negative net margin of 60.46%. The company had revenue of $43.90 million for the quarter, compared to the consensus estimate of $41.01 million. During the same period last year, the business posted ($1.17) EPS. The company’s quarterly revenue was up 58.5% compared to the same quarter last year. Equities research analysts expect that SiTime will post -3.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Rajesh Vashist sold 20,000 shares of SiTime stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $170.07, for a total transaction of $3,401,400.00. Following the sale, the chief executive officer now directly owns 424,417 shares of the company’s stock, valued at approximately $72,180,599.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Piyush B. Sevalia sold 1,338 shares of SiTime stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $180.00, for a total value of $240,840.00. Following the completion of the transaction, the insider now directly owns 86,196 shares in the company, valued at approximately $15,515,280. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rajesh Vashist sold 20,000 shares of SiTime stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $170.07, for a total transaction of $3,401,400.00. Following the completion of the transaction, the chief executive officer now directly owns 424,417 shares of the company’s stock, valued at approximately $72,180,599.19. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,547 shares of company stock worth $5,361,178 in the last quarter. 2.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SiTime

Institutional investors have recently modified their holdings of the business. Net Worth Advisory Group acquired a new stake in shares of SiTime during the 3rd quarter worth approximately $209,000. Bleakley Financial Group LLC increased its position in SiTime by 28.6% in the third quarter. Bleakley Financial Group LLC now owns 2,672 shares of the company’s stock worth $458,000 after buying an additional 595 shares during the period. Swedbank AB lifted its stake in SiTime by 21.7% in the third quarter. Swedbank AB now owns 28,000 shares of the company’s stock valued at $4,802,000 after buying an additional 5,000 shares during the last quarter. Creative Planning bought a new position in shares of SiTime during the third quarter worth about $842,000. Finally, GAMMA Investing LLC increased its holdings in shares of SiTime by 95.0% in the 3rd quarter. GAMMA Investing LLC now owns 743 shares of the company’s stock worth $127,000 after acquiring an additional 362 shares during the period. Institutional investors own 84.31% of the company’s stock.

SiTime Company Profile

(Get Free Report)

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.

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