Barclays Issues Pessimistic Forecast for SiTime (NASDAQ:SITM) Stock Price

SiTime (NASDAQ:SITM - Get Free Report) had its target price decreased by investment analysts at Barclays from $180.00 to $110.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an "underweight" rating on the stock. Barclays's target price indicates a potential downside of 16.94% from the company's previous close.

Several other equities analysts have also weighed in on the stock. Stifel Nicolaus cut their target price on shares of SiTime from $270.00 to $180.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Raymond James restated an "outperform" rating and set a $250.00 target price (up from $215.00) on shares of SiTime in a research report on Thursday, February 6th. Finally, Needham & Company LLC raised their price objective on SiTime from $225.00 to $250.00 and gave the company a "buy" rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat, SiTime currently has a consensus rating of "Moderate Buy" and a consensus target price of $204.00.

SiTime Trading Up 4.6 %

Shares of NASDAQ SITM traded up $5.86 during trading on Tuesday, reaching $132.43. 40,247 shares of the company traded hands, compared to its average volume of 240,257. The stock has a market cap of $3.13 billion, a P/E ratio of -32.66 and a beta of 1.98. The firm's fifty day simple moving average is $157.29 and its 200 day simple moving average is $191.78. SiTime has a 12-month low of $72.39 and a 12-month high of $268.18.

Insiders Place Their Bets

In other news, insider Lionel Bonnot sold 3,501 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $174.25, for a total value of $610,049.25. Following the transaction, the insider now owns 87,940 shares of the company's stock, valued at approximately $15,323,545. The trade was a 3.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Piyush B. Sevalia sold 1,038 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $157.64, for a total transaction of $163,630.32. Following the completion of the sale, the insider now owns 92,847 shares of the company's stock, valued at $14,636,401.08. This trade represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,542 shares of company stock worth $978,713 in the last ninety days. 2.30% of the stock is 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 business. Fourth Dimension Wealth LLC purchased a new position in SiTime in the fourth quarter worth $25,000. Opal Wealth Advisors LLC purchased a new stake in SiTime during the first quarter worth $32,000. Blue Trust Inc. grew its holdings in SiTime by 44.7% in the fourth quarter. Blue Trust Inc. now owns 217 shares of the company's stock valued at $47,000 after purchasing an additional 67 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in SiTime in the 4th quarter valued at about $58,000. Finally, Smartleaf Asset Management LLC raised its position in SiTime by 278.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock worth $60,000 after acquiring an additional 206 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.

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