Roth Mkm Forecasts Strong Price Appreciation for SiTime (NASDAQ:SITM) Stock

SiTime (NASDAQ:SITM) had its price target hoisted by stock analysts at Roth Mkm from $205.00 to $230.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Roth Mkm’s price objective would suggest a potential upside of 2.02% from the company’s current price.

Several other research firms have also issued reports on SITM. Needham & Company LLC upped their target price on SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a report on Thursday. Stifel Nicolaus upped their price objective on SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Barclays cut SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 target price on the stock. in a research note on Tuesday, August 27th.

SiTime Stock Down 0.0 %

NASDAQ SITM traded down $0.06 on Thursday, reaching $225.45. The company had a trading volume of 337,459 shares, compared to its average volume of 205,572. The company’s fifty day moving average is $169.16 and its 200 day moving average is $141.31. SiTime has a 52-week low of $72.39 and a 52-week high of $228.12. The stock has a market capitalization of $5.21 billion, a P/E ratio of -54.46 and a beta of 1.83.

SiTime (NASDAQ:SITM) last announced 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. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.88%. The company had revenue of $57.70 million during the quarter, compared to the consensus estimate of $55.10 million. During the same quarter in the prior year, the company posted ($0.81) earnings per share. The firm’s revenue for the quarter was up 62.4% on a year-over-year basis. On average, research analysts expect that SiTime will post -3.03 EPS for the current year.

Insider Activity

In related news, insider Samsheer Ahamad sold 4,000 shares of SiTime stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $172.73, for a total value of $690,920.00. Following the completion of the transaction, the insider now directly owns 78,979 shares in the company, valued at approximately $13,642,042.67. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Fariborz Assaderaghi sold 1,083 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $139.05, for a total value of $150,591.15. Following the transaction, the insider now owns 112,584 shares of the company’s stock, valued at $15,654,805.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Samsheer Ahamad sold 4,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $172.73, for a total value of $690,920.00. Following the sale, the insider now owns 78,979 shares in the company, valued at $13,642,042.67. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,464 shares of company stock valued at $5,372,893 over the last quarter. Company insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On SiTime

Several institutional investors have recently modified their holdings of the company. Signaturefd LLC lifted its position in SiTime by 67.4% in the 3rd quarter. Signaturefd LLC now owns 149 shares of the company’s stock worth $26,000 after buying an additional 60 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of SiTime by 59.5% during the second quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock worth $29,000 after acquiring an additional 88 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of SiTime by 281.0% in the 2nd quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock worth $47,000 after acquiring an additional 281 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of SiTime in the 2nd quarter valued at $49,000. Finally, Bessemer Group Inc. grew its holdings in shares of SiTime by 70.1% during the 1st quarter. Bessemer Group Inc. now owns 1,213 shares of the company’s stock valued at $113,000 after purchasing an additional 500 shares during the last quarter. 84.31% of the stock is currently owned by 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.