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

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

A number of other research analysts have also issued reports on SITM. Needham & Company LLC raised their price objective 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 raised their price target on shares of SiTime from $230.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Roth Mkm increased their price objective on SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

SiTime Price Performance

Shares of SiTime stock opened at $250.97 on Friday. The company’s 50 day moving average price is $224.50 and its two-hundred day moving average price is $179.25. The firm has a market capitalization of $5.86 billion, a P/E ratio of -60.62 and a beta of 1.82. SiTime has a fifty-two week low of $72.39 and a fifty-two week high of $268.18.

SiTime (NASDAQ:SITM) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 earnings per share 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 the consensus estimate of $55.10 million. During the same quarter last year, the business posted ($0.81) EPS. SiTime’s revenue for the quarter was up 62.4% on a year-over-year basis. On average, analysts expect that SiTime will post -2.98 earnings per share for the current year.

Insider Activity

In related news, CEO Rajesh Vashist sold 12,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 24,781 shares in the company, valued at $6,424,474.25. This represents a 32.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Fariborz Assaderaghi sold 1,002 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $220.94, for a total value of $221,381.88. Following the sale, the insider now directly owns 100,681 shares of the company’s stock, valued at $22,244,460.14. This represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,931 shares of company stock valued at $7,017,644. 2.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Signaturefd LLC grew 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 during the period. Van ECK Associates Corp acquired a new stake in shares of SiTime in the 3rd quarter valued at about $123,000. GAMMA Investing LLC boosted its holdings in SiTime by 95.0% in the third 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 SiTime in the third quarter worth approximately $166,000. Finally, Virtu Financial LLC bought a new stake in shares of SiTime during the third quarter valued at approximately $204,000. Institutional investors and hedge funds 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.