Stifel Nicolaus Issues Positive Forecast for SiTime (NASDAQ:SITM) Stock Price

SiTime (NASDAQ:SITM) had its target price upped by Stifel Nicolaus from $230.00 to $250.00 in a report issued on Monday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

A number of other equities analysts have also recently commented on the company. Roth Mkm lifted their price target on SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Barclays lifted their target price on shares of SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a research note on Friday, November 8th. Finally, Needham & Company LLC increased their price target on shares of SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, November 7th.

SiTime Stock Performance

SITM stock opened at $236.48 on Monday. The firm has a market cap of $5.52 billion, a P/E ratio of -57.12 and a beta of 1.82. The firm’s fifty day moving average is $214.87 and its 200 day moving average is $171.96. SiTime has a 52 week low of $72.39 and a 52 week high of $268.18.

SiTime (NASDAQ:SITM) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $55.10 million. During the same period last year, the firm earned ($0.81) earnings per share. The company’s revenue for the quarter was up 62.4% compared to the same quarter last year. As a group, analysts forecast that SiTime will post -2.98 EPS for the current year.

Insider Transactions at SiTime

In related news, CEO Rajesh Vashist sold 12,000 shares of the stock in a transaction dated 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 $6,424,474.25. This represents a 32.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Fariborz Assaderaghi sold 363 shares of SiTime stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $216.25, for a total value of $78,498.75. Following the sale, the insider now directly owns 104,322 shares in the company, valued at approximately $22,559,632.50. The trade was a 0.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,931 shares of company stock worth $7,017,644. 2.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Signaturefd LLC raised its holdings in SiTime by 67.4% in the third quarter. Signaturefd LLC now owns 149 shares of the company’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. Van ECK Associates Corp purchased a new stake in shares of SiTime in the 3rd quarter worth about $123,000. GAMMA Investing LLC increased its stake 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 in the last quarter. Sanctuary Advisors LLC bought a new position in shares of SiTime in the 3rd quarter worth about $166,000. Finally, Virtu Financial LLC purchased a new position in SiTime during the 3rd quarter valued at about $204,000. Institutional investors 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.