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

SiTime (NASDAQ:SITM) had its price target boosted by Barclays from $130.00 to $160.00 in a research report report published on Friday,Benzinga reports. They currently have an underweight rating on the stock.

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

SiTime Stock Performance

SITM stock opened at $250.97 on Friday. The business has a 50-day simple moving average of $224.50 and a two-hundred day simple moving average of $179.25. The company has a market capitalization of $5.86 billion, a P/E ratio of -60.62 and a beta of 1.82. SiTime has a 52-week low of $72.39 and a 52-week high of $268.18.

SiTime (NASDAQ:SITM) last announced 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 return on equity of 9.89% and a negative net margin of 53.55%. The company had revenue of $57.70 million for the quarter, compared to analysts’ expectations of $55.10 million. During the same quarter in the previous year, the firm earned ($0.81) earnings per share. SiTime’s quarterly revenue was up 62.4% on a year-over-year basis. As a group, sell-side analysts forecast that SiTime will post -2.98 earnings per share for the current fiscal year.

Insider Transactions at SiTime

In other news, insider Fariborz Assaderaghi sold 1,002 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $220.94, for a total transaction of $221,381.88. Following the completion of the sale, the insider now owns 100,681 shares in the company, valued at $22,244,460.14. This trade represents a 0.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Rajesh Vashist sold 12,000 shares of SiTime stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $259.25, for a total transaction of $3,111,000.00. Following the completion of the sale, the chief executive officer now directly owns 24,781 shares in the company, valued at $6,424,474.25. This trade represents a 32.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,931 shares of company stock worth $7,017,644 in the last ninety days. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SITM. FMR LLC raised its stake in SiTime by 1.1% in the 3rd quarter. FMR LLC now owns 3,469,843 shares of the company’s stock valued at $595,113,000 after acquiring an additional 39,119 shares during the period. State Street Corp boosted its position in SiTime by 3.1% during the third quarter. State Street Corp now owns 922,974 shares of the company’s stock worth $158,299,000 after purchasing an additional 27,692 shares during the period. Principal Financial Group Inc. increased its stake in shares of SiTime by 15.4% in the third quarter. Principal Financial Group Inc. now owns 448,930 shares of the company’s stock worth $76,996,000 after purchasing an additional 59,931 shares in the last quarter. Geode Capital Management LLC raised its position in shares of SiTime by 3.7% in the third quarter. Geode Capital Management LLC now owns 440,922 shares of the company’s stock valued at $75,637,000 after purchasing an additional 15,759 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of SiTime by 7.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 165,820 shares of the company’s stock valued at $28,440,000 after buying an additional 11,955 shares in the last quarter. Institutional investors own 84.31% of the company’s stock.

About SiTime

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.