SiTime (NASDAQ:SITM) Price Target Increased to $175.00 by Analysts at Stifel Nicolaus

SiTime (NASDAQ:SITM) had its price target hoisted by Stifel Nicolaus from $150.00 to $175.00 in a report issued on Thursday, Benzinga reports. They currently have a buy rating on the stock.

Separately, Needham & Company LLC reiterated a buy rating and set a $130.00 price objective on shares of SiTime in a research note on Tuesday, June 25th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $141.00.

SiTime Stock Performance

SiTime stock opened at $145.19 on Thursday. SiTime has a 1 year low of $72.39 and a 1 year high of $165.11. The firm has a 50 day moving average price of $129.87 and a 200 day moving average price of $110.01.

SiTime (NASDAQ:SITM) last issued its earnings results on Wednesday, May 8th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.17). SiTime had a negative return on equity of 11.29% and a negative net margin of 66.88%. The firm had revenue of $33.02 million during the quarter, compared to analysts’ expectations of $32.02 million. Equities research analysts expect that SiTime will post -2.66 earnings per share for the current fiscal year.

Insider Transactions at SiTime

In related news, insider Vincent P. Pangrazio sold 1,962 shares of the firm’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $150.00, for a total transaction of $294,300.00. Following the completion of the sale, the insider now directly owns 69,175 shares of the company’s stock, valued at approximately $10,376,250. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Vincent P. Pangrazio sold 1,962 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $150.00, for a total value of $294,300.00. Following the transaction, the insider now owns 69,175 shares in the company, valued at $10,376,250. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Lionel Bonnot sold 3,203 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $140.26, for a total value of $449,252.78. Following the sale, the insider now owns 86,838 shares of the company’s stock, valued at approximately $12,179,897.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,850 shares of company stock valued at $6,926,104. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On SiTime

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of SiTime by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock worth $205,412,000 after buying an additional 85,800 shares during the last quarter. Wasatch Advisors LP boosted its stake in SiTime by 2.9% in the fourth quarter. Wasatch Advisors LP now owns 892,102 shares of the company’s stock valued at $108,908,000 after acquiring an additional 25,324 shares during the period. Principal Financial Group Inc. raised its position in shares of SiTime by 0.5% during the 4th quarter. Principal Financial Group Inc. now owns 359,929 shares of the company’s stock worth $43,940,000 after purchasing an additional 1,912 shares during the period. Dimensional Fund Advisors LP raised its position in shares of SiTime by 16.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 246,637 shares of the company’s stock worth $30,112,000 after purchasing an additional 35,491 shares during the period. Finally, Jennison Associates LLC lifted its holdings in shares of SiTime by 0.9% in the 1st quarter. Jennison Associates LLC now owns 175,272 shares of the company’s stock worth $16,341,000 after purchasing an additional 1,502 shares during the last quarter. Institutional investors and hedge funds 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.