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

SiTime (NASDAQ:SITM) had its target price boosted by research analysts at Barclays from $130.00 to $160.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “underweight” rating on the stock. Barclays‘s price objective would indicate a potential downside of 34.14% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Roth Mkm lifted their target price on SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Stifel Nicolaus increased their target price on shares of SiTime from $230.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Needham & Company LLC raised their target price on shares of SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th.

SiTime Price Performance

Shares of SITM opened at $242.93 on Friday. SiTime has a one year low of $72.39 and a one year high of $268.18. The business has a fifty day moving average of $223.99 and a 200 day moving average of $178.36. The firm has a market capitalization of $5.67 billion, a P/E ratio of -58.68 and a beta of 1.82.

SiTime (NASDAQ:SITM) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.40 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $55.10 million. During the same quarter in the prior year, the firm earned ($0.81) EPS. The business’s revenue for the quarter was up 62.4% compared to the same quarter last year. Analysts expect that SiTime will post -2.98 EPS for the current fiscal year.

Insider Transactions at SiTime

In other SiTime news, insider Samsheer Ahamad sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $172.73, for a total transaction of $690,920.00. Following the sale, the insider now directly owns 78,979 shares in the company, valued at $13,642,042.67. This represents a 4.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Fariborz Assaderaghi sold 1,000 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $210.16, for a total value of $210,160.00. Following the sale, the insider now owns 108,574 shares in the company, valued at $22,817,911.84. The trade was a 0.91 % decrease in their position. The disclosure for this sale can be found here. Over 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 Investors Weigh In On SiTime

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SITM. Signaturefd LLC grew its holdings in SiTime by 67.4% during the 3rd quarter. Signaturefd LLC now owns 149 shares of the company’s stock worth $26,000 after acquiring an additional 60 shares in the last quarter. Van ECK Associates Corp bought a new position in SiTime in the third quarter worth approximately $123,000. GAMMA Investing LLC lifted its holdings in SiTime by 95.0% during the third quarter. GAMMA Investing LLC now owns 743 shares of the company’s stock worth $127,000 after buying an additional 362 shares during the period. Sanctuary Advisors LLC bought a new stake in SiTime during the 3rd quarter valued at $166,000. Finally, Virtu Financial LLC purchased a new position in shares of SiTime in the 3rd quarter valued at $204,000. 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.