Stifel Nicolaus Boosts SiTime (NASDAQ:SITM) Price Target to $270.00

SiTime (NASDAQ:SITM) had its target price increased by Stifel Nicolaus from $250.00 to $270.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ target price suggests a potential upside of 50.10% from the stock’s current price.

Several other equities research analysts have also weighed in on SITM. Roth Mkm raised their price objective on SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC upped their target price on SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday. Finally, Barclays lifted their price target on SiTime from $130.00 to $160.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $232.00.

SiTime Trading Up 2.0 %

Shares of NASDAQ SITM opened at $179.88 on Thursday. SiTime has a twelve month low of $72.39 and a twelve month high of $268.18. The firm has a 50-day moving average of $227.99 and a two-hundred day moving average of $186.39. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of -43.45 and a beta of 1.80.

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

Insider Activity

In other SiTime news, insider Vincent P. Pangrazio sold 3,064 shares of SiTime stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $255.00, for a total transaction of $781,320.00. Following the transaction, the insider now owns 65,978 shares of the company’s stock, valued at $16,824,390. The trade was a 4.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Fariborz Assaderaghi sold 1,003 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $204.42, for a total transaction of $205,033.26. Following the completion of the sale, the insider now directly owns 99,678 shares of the company’s stock, valued at $20,376,176.76. This trade represents a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,934 shares of company stock worth $5,206,598 over the last quarter. Corporate insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Barclays PLC boosted its stake in shares of SiTime by 80.7% during the 3rd quarter. Barclays PLC now owns 37,982 shares of the company’s stock valued at $6,515,000 after buying an additional 16,964 shares during the period. LMR Partners LLP raised its holdings in shares of SiTime by 705.0% during the third quarter. LMR Partners LLP now owns 80,500 shares of the company’s stock worth $13,807,000 after acquiring an additional 70,500 shares in the last quarter. Creative Planning acquired a new stake in SiTime during the third quarter valued at $842,000. FMR LLC grew its stake in SiTime by 1.1% in the third quarter. FMR LLC now owns 3,469,843 shares of the company’s stock valued at $595,113,000 after purchasing an additional 39,119 shares in the last quarter. Finally, Swedbank AB increased its position in SiTime by 21.7% in the 3rd quarter. Swedbank AB now owns 28,000 shares of the company’s stock worth $4,802,000 after purchasing an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.

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.