Needham & Company LLC Forecasts Strong Price Appreciation for SiTime (NASDAQ:SITM) Stock

SiTime (NASDAQ:SITMFree Report) had its price objective increased by Needham & Company LLC from $140.00 to $225.00 in a research report report published on Thursday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other equities research analysts also recently commented on the stock. Barclays downgraded shares of SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 target price for the company. in a research report on Tuesday, August 27th. Stifel Nicolaus raised their target price on SiTime from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th.

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SiTime Stock Down 0.0 %

Shares of NASDAQ:SITM opened at $225.45 on Thursday. SiTime has a 1 year low of $72.39 and a 1 year high of $228.12. The stock’s fifty day moving average price is $169.16 and its 200-day moving average price is $141.31.

SiTime (NASDAQ:SITMGet Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share (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 9.89%. The business had revenue of $57.70 million for the quarter, compared to analysts’ expectations of $55.10 million. During the same quarter in the prior year, the business earned ($0.81) EPS. The business’s revenue for the quarter was up 62.4% compared to the same quarter last year. On average, analysts forecast that SiTime will post -3.03 EPS for the current year.

Insider Transactions at SiTime

In other news, insider Fariborz Assaderaghi sold 1,083 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $139.05, for a total value of $150,591.15. Following the sale, the insider now owns 112,584 shares of the company’s stock, valued at approximately $15,654,805.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other SiTime news, insider Fariborz Assaderaghi sold 1,083 shares of the company’s 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Samsheer Ahamad sold 4,000 shares of SiTime stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $172.73, for a total transaction of $690,920.00. Following the sale, the insider now owns 78,979 shares of the company’s stock, 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. In the last 90 days, insiders sold 32,464 shares of company stock worth $5,372,893. 2.30% of the stock is currently owned by company insiders.

Institutional Trading of SiTime

Hedge funds have recently bought and sold shares of the stock. Intech Investment Management LLC purchased a new position in SiTime in the third quarter worth $716,000. LMR Partners LLP boosted its position in shares of SiTime by 705.0% in the 3rd quarter. LMR Partners LLP now owns 80,500 shares of the company’s stock worth $13,807,000 after purchasing an additional 70,500 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in SiTime by 0.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 14,714 shares of the company’s stock worth $2,524,000 after buying an additional 94 shares during the last quarter. CIBC Asset Management Inc acquired a new position in SiTime during the 3rd quarter valued at about $205,000. Finally, Saturna Capital Corp acquired a new position in SiTime during the 3rd quarter valued at about $206,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.

SiTime Company Profile

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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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