Stifel Nicolaus Forecasts Strong Price Appreciation for SiTime (NASDAQ:SITM) Stock

SiTime (NASDAQ:SITM) had its target price lifted by Stifel Nicolaus from $230.00 to $250.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 8.25% from the company’s previous close.

SITM has been the topic of a number of other research reports. Barclays upped their price objective on shares of SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a report on Friday, November 8th. Roth Mkm upped their price target on SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Needham & Company LLC lifted their price objective on SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, November 7th.

SiTime Stock Down 2.3 %

NASDAQ SITM opened at $230.94 on Monday. The stock’s 50 day moving average is $215.96 and its 200 day moving average is $172.79. The firm has a market capitalization of $5.40 billion, a PE ratio of -55.78 and a beta of 1.82. SiTime has a twelve month low of $72.39 and a twelve month high of $268.18.

SiTime (NASDAQ:SITM) last announced its earnings results on Wednesday, November 6th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.14. The firm had revenue of $57.70 million for the quarter, compared to analysts’ expectations of $55.10 million. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.89%. The company’s quarterly revenue was up 62.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.81) EPS. On average, research analysts anticipate that SiTime will post -2.98 earnings per share for the current year.

Insider Transactions at SiTime

In related news, insider Fariborz Assaderaghi sold 1,000 shares of SiTime stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $210.16, for a total value of $210,160.00. Following the completion of the sale, the insider now directly owns 108,574 shares in the company, valued at approximately $22,817,911.84. This trade represents a 0.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Samsheer Ahamad sold 4,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was 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 of the company’s stock, valued at approximately $13,642,042.67. This trade represents a 4.82 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,931 shares of company stock worth $7,017,644. Corporate insiders own 2.30% of the company’s stock.

Institutional Trading of SiTime

A number of large investors have recently made changes to their positions in SITM. Signaturefd LLC boosted 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 last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of SiTime by 0.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 14,714 shares of the company’s stock valued at $2,524,000 after buying an additional 94 shares during the period. Amalgamated Bank boosted its stake in shares of SiTime by 2.3% in the 3rd quarter. Amalgamated Bank now owns 5,509 shares of the company’s stock worth $945,000 after buying an additional 122 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of SiTime by 2.2% in the third quarter. Louisiana State Employees Retirement System now owns 9,100 shares of the company’s stock worth $1,561,000 after acquiring an additional 200 shares during the period. Finally, GAMMA Investing LLC increased its position in SiTime by 27.1% during the fourth quarter. GAMMA Investing LLC now owns 944 shares of the company’s stock valued at $203,000 after acquiring an additional 201 shares during the last quarter. 84.31% of the stock is currently owned by institutional investors.

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.