Barclays Raises SiTime (NASDAQ:SITM) Price Target to $160.00

SiTime (NASDAQ:SITM) had its price target increased by Barclays from $130.00 to $160.00 in a report issued on Friday,Benzinga reports. The firm presently has an “underweight” rating on the stock. Barclays‘s target price suggests a potential downside of 36.25% from the company’s current price.

Other research analysts have also issued research reports about the stock. Needham & Company LLC lifted their price target on shares of SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Stifel Nicolaus boosted their price objective on shares of SiTime from $230.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, Roth Mkm increased their target price on SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, November 7th.

SiTime Stock Up 3.3 %

Shares of NASDAQ SITM opened at $250.97 on Friday. SiTime has a twelve month low of $72.39 and a twelve month high of $268.18. The company’s fifty day moving average is $224.50 and its 200-day moving average is $179.61. The stock has a market cap of $5.86 billion, a price-to-earnings ratio of -60.62 and a beta of 1.82.

SiTime (NASDAQ:SITM) last posted its earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.14. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. The firm had revenue of $57.70 million during the quarter, compared to analysts’ expectations of $55.10 million. During the same period in the previous year, the firm earned ($0.81) earnings per share. The company’s revenue was up 62.4% on a year-over-year basis. On average, research analysts anticipate that SiTime will post -2.98 EPS for the current fiscal year.

Insider Transactions at SiTime

In related news, CEO Rajesh Vashist sold 12,000 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $259.25, for a total value of $3,111,000.00. Following the completion of the transaction, the chief executive officer now directly owns 24,781 shares of the company’s stock, valued at approximately $6,424,474.25. This trade represents a 32.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Fariborz Assaderaghi sold 363 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $216.25, for a total transaction of $78,498.75. Following the sale, the insider now directly owns 104,322 shares in the company, valued at $22,559,632.50. This trade represents a 0.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,931 shares of company stock valued at $7,017,644 over the last 90 days. 2.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SiTime

Several hedge funds have recently bought and sold shares of the company. Signaturefd LLC raised its stake in SiTime by 67.4% in the 3rd quarter. Signaturefd LLC now owns 149 shares of the company’s stock valued at $26,000 after acquiring an additional 60 shares during the period. Van ECK Associates Corp bought a new stake in shares of SiTime during the 3rd quarter worth about $123,000. GAMMA Investing LLC raised its holdings in SiTime by 95.0% in the 3rd quarter. GAMMA Investing LLC now owns 743 shares of the company’s stock valued at $127,000 after acquiring an additional 362 shares during the period. Sanctuary Advisors LLC acquired a new stake in SiTime during the third quarter worth approximately $166,000. Finally, Virtu Financial LLC bought a new stake in shares of SiTime during the third quarter worth approximately $204,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.

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.