Barclays Lowers SiTime (NASDAQ:SITM) to Underweight

Barclays downgraded shares of SiTime (NASDAQ:SITM) from an equal weight rating to an underweight rating in a research note released on Tuesday, Marketbeat.com reports. They currently have $90.00 target price on the stock.

A number of other analysts have also issued reports on SITM. Stifel Nicolaus lifted their price objective on shares of SiTime from $150.00 to $175.00 and gave the company a buy rating in a research note on Thursday, July 18th. Needham & Company LLC reaffirmed a buy rating and issued a $130.00 price target on shares of SiTime in a report on Tuesday, June 25th.

SiTime Stock Up 6.1 %

Shares of SITM stock opened at $146.93 on Tuesday. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of -35.58 and a beta of 1.82. SiTime has a fifty-two week low of $72.39 and a fifty-two week high of $165.11. The firm’s 50 day moving average price is $136.66 and its two-hundred day moving average price is $114.21.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.08. The company had revenue of $43.90 million for the quarter, compared to analyst estimates of $41.01 million. SiTime had a negative net margin of 60.46% and a negative return on equity of 10.53%. The business’s quarterly revenue was up 58.5% on a year-over-year basis. During the same quarter last year, the firm posted ($1.17) earnings per share. On average, equities analysts forecast that SiTime will post -3.03 EPS for the current fiscal year.

Insider Activity at SiTime

In related news, insider Vincent P. Pangrazio sold 1,962 shares of the company’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $150.00, for a total value of $294,300.00. Following the sale, the insider now directly owns 69,175 shares of the company’s stock, valued at $10,376,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other SiTime news, EVP Piyush B. Sevalia sold 827 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $130.00, for a total transaction of $107,510.00. Following the sale, the executive vice president now directly owns 89,624 shares of the company’s stock, valued at $11,651,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vincent P. Pangrazio sold 1,962 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $150.00, for a total transaction of $294,300.00. Following the sale, the insider now directly owns 69,175 shares in the company, valued at $10,376,250. The disclosure for this sale can be found here. Insiders have sold 50,005 shares of company stock valued at $6,608,878 over the last ninety days. Corporate insiders own 2.30% of the company’s stock.

Institutional Trading of SiTime

Institutional investors and hedge funds have recently modified their holdings of the business. Pineridge Advisors LLC acquired a new stake in shares of SiTime during the fourth quarter worth $25,000. Nisa Investment Advisors LLC raised its holdings 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 purchasing an additional 88 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of SiTime by 78.2% during the fourth quarter. Quadrant Capital Group LLC now owns 335 shares of the company’s stock worth $41,000 after purchasing an additional 147 shares during the period. GAMMA Investing LLC raised its holdings in shares of SiTime by 281.0% during the second quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock worth $47,000 after purchasing an additional 281 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of SiTime during the second quarter worth about $49,000. 84.31% of the stock is owned by institutional investors and hedge funds.

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.