SiTime (NASDAQ:SITM) Earns Outperform Rating from Raymond James

SiTime (NASDAQ:SITM)‘s stock had its “outperform” rating reaffirmed by Raymond James in a report released on Thursday,Benzinga reports. They presently have a $250.00 price objective on the stock, up from their prior price objective of $215.00. Raymond James’ target price would suggest a potential upside of 38.98% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Barclays increased their price target on SiTime from $130.00 to $160.00 and gave the stock an “underweight” rating in a research report on Friday, January 17th. Roth Mkm increased their target price on SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Stifel Nicolaus boosted their price target on SiTime from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Needham & Company LLC increased their price objective on shares of SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $232.00.

SiTime Stock Performance

Shares of SiTime stock opened at $179.88 on Thursday. SiTime has a 52-week low of $72.39 and a 52-week high of $268.18. The stock has a market cap of $4.20 billion, a PE ratio of -43.45 and a beta of 1.80. The firm has a 50-day moving average of $227.99 and a 200-day moving average of $186.39.

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

Insider Buying and Selling at SiTime

In related news, insider Fariborz Assaderaghi sold 1,000 shares of the firm’s 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 sale, the insider now directly owns 108,574 shares of the company’s stock, valued at $22,817,911.84. This trade represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Rajesh Vashist sold 12,000 shares of SiTime stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $259.25, for a total value of $3,111,000.00. Following the completion of the transaction, the chief executive officer now owns 24,781 shares in the company, valued at approximately $6,424,474.25. This represents a 32.63 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,934 shares of company stock valued at $5,206,598. 2.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SiTime

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC grew its stake in shares of SiTime by 67.4% during the third quarter. Signaturefd LLC now owns 149 shares of the company’s stock worth $26,000 after buying an additional 60 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of SiTime by 44.7% during the 4th quarter. Blue Trust Inc. now owns 217 shares of the company’s stock valued at $47,000 after acquiring an additional 67 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of SiTime by 278.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 280 shares of the company’s stock valued at $60,000 after acquiring an additional 206 shares in the last quarter. AlphaQuest LLC increased its holdings in SiTime by 8,460.0% in the 4th quarter. AlphaQuest LLC now owns 428 shares of the company’s stock worth $92,000 after purchasing an additional 423 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in SiTime in the 4th quarter worth about $140,000. 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.