SiTime (NASDAQ:SITM) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

SiTime (NASDAQ:SITM) had its target price lifted by equities researchers at Stifel Nicolaus from $250.00 to $270.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price target points to a potential upside of 39.35% from the company’s previous close.

Several other research firms also recently weighed in on SITM. Needham & Company LLC increased their price objective on SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday. Barclays increased their price objective on SiTime from $130.00 to $160.00 and gave the stock an “underweight” rating in a research report on Friday, January 17th. Finally, Roth Mkm raised their price target on SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, November 7th.

SiTime Price Performance

Shares of SITM stock traded down $29.23 during trading hours on Thursday, reaching $193.76. 344,009 shares of the stock were exchanged, compared to its average volume of 224,692. The business’s fifty day moving average is $228.56 and its two-hundred day moving average is $186.46. The firm has a market capitalization of $4.53 billion, a P/E ratio of -46.80 and a beta of 1.80. SiTime has a 12-month low of $72.39 and a 12-month high of $268.18.

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

Insiders Place Their Bets

In other SiTime news, insider Fariborz Assaderaghi sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $210.16, for a total value of $210,160.00. Following the transaction, the insider now directly owns 108,574 shares of the company’s stock, valued at $22,817,911.84. This represents a 0.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Raman Chitkara sold 500 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $265.00, for a total value of $132,500.00. Following the completion of the transaction, the director now directly owns 20,719 shares in the company, valued at approximately $5,490,535. The trade was a 2.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,934 shares of company stock valued at $6,531,758. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company boosted its stake in SiTime by 9.7% during the second quarter. The Manufacturers Life Insurance Company now owns 10,200 shares of the company’s stock valued at $1,269,000 after buying an additional 898 shares in the last quarter. SG Americas Securities LLC purchased a new stake in SiTime in the 3rd quarter worth about $878,000. Handelsbanken Fonder AB raised its stake in shares of SiTime by 17.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 5,984 shares of the company’s stock worth $1,026,000 after purchasing an additional 900 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of SiTime by 95.0% during the 3rd quarter. GAMMA Investing LLC now owns 743 shares of the company’s stock worth $127,000 after purchasing an additional 362 shares in the last quarter. Finally, Creative Planning purchased a new stake in shares of SiTime during the 3rd quarter worth about $842,000. Institutional investors 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.