Stifel Nicolaus Boosts SiTime (NASDAQ:SITM) Price Target to $250.00

SiTime (NASDAQ:SITM) had its price objective increased by Stifel Nicolaus from $230.00 to $250.00 in a report released on Monday,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also recently issued reports on SITM. Barclays increased their price objective on shares of SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a research note on Friday, November 8th. Roth Mkm raised their price target on SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Needham & Company LLC boosted their price objective on SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, November 7th.

SiTime Trading Up 0.9 %

NASDAQ SITM opened at $236.48 on Monday. The stock’s fifty day moving average price is $214.87 and its 200-day moving average price is $171.96. SiTime has a 12 month low of $72.39 and a 12 month high of $268.18. The stock has a market cap of $5.52 billion, a P/E ratio of -57.12 and a beta of 1.82.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 earnings per share 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 return on equity of 9.89% and a negative net margin of 53.55%. The business’s quarterly revenue was up 62.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.81) EPS. As a group, analysts forecast that SiTime will post -2.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Rajesh Vashist sold 12,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $259.25, for a total value of $3,111,000.00. Following the sale, the chief executive officer now directly owns 24,781 shares in the company, valued at approximately $6,424,474.25. The trade was a 32.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Samsheer Ahamad sold 4,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $172.73, for a total value of $690,920.00. Following the transaction, the insider now directly owns 78,979 shares of the company’s stock, valued at approximately $13,642,042.67. The trade was a 4.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,931 shares of company stock worth $7,017,644. 2.30% of the stock is owned by insiders.

Institutional Trading of SiTime

Several hedge funds have recently modified their holdings of SITM. Signaturefd LLC grew its holdings in shares of SiTime by 67.4% in the third quarter. Signaturefd LLC now owns 149 shares of the company’s stock valued at $26,000 after purchasing an additional 60 shares in the last quarter. Van ECK Associates Corp purchased a new position in shares of SiTime in the 3rd quarter worth $123,000. GAMMA Investing LLC increased its holdings in shares of SiTime by 95.0% in the 3rd quarter. GAMMA Investing LLC now owns 743 shares of the company’s stock worth $127,000 after buying an additional 362 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of SiTime during the 3rd quarter valued at about $166,000. Finally, Virtu Financial LLC bought a new position in shares of SiTime in the 3rd quarter valued at about $204,000. 84.31% of the stock is owned by hedge funds and other institutional investors.

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.