SiTime (NASDAQ:SITM) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

SiTime (NASDAQ:SITM - Free Report) had its price target boosted by Needham & Company LLC from $225.00 to $250.00 in a report released on Thursday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Several other equities analysts have also recently weighed in on the company. Barclays increased their price target on SiTime from $130.00 to $160.00 and gave the company an "underweight" rating in a report on Friday, January 17th. Roth Mkm increased their target price on SiTime from $205.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Finally, Stifel Nicolaus raised their target price on SiTime from $230.00 to $250.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, SiTime has an average rating of "Moderate Buy" and a consensus target price of $232.00.

SiTime Trading Up 2.0 %

NASDAQ:SITM traded up $3.56 during mid-day trading on Thursday, reaching $179.88. The company's stock had a trading volume of 433,677 shares, compared to its average volume of 248,673. The stock has a market cap of $4.20 billion, a P/E ratio of -44.41 and a beta of 1.80. The firm's fifty day moving average price is $227.34 and its two-hundred day moving average price is $186.78. SiTime has a 12-month low of $72.39 and a 12-month high of $268.18.

SiTime (NASDAQ:SITM - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.14. SiTime had a negative net margin of 46.18% and a negative return on equity of 10.12%. The firm had revenue of $57.70 million during the quarter, compared to analysts' expectations of $55.10 million. During the same period in the previous year, the company earned ($0.81) earnings per share. The firm's quarterly revenue was up 62.4% on a year-over-year basis. Analysts predict that SiTime will post -1.51 earnings per share for the current fiscal year.

Insider Activity at SiTime

In related news, CEO Rajesh Vashist sold 12,000 shares of the business's stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $259.25, for a total transaction of $3,111,000.00. Following the completion of the transaction, the chief executive officer now directly owns 24,781 shares in the company, valued at approximately $6,424,474.25. The trade was a 32.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Raman Chitkara sold 500 shares of the firm's stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $265.00, for a total transaction of $132,500.00. Following the sale, the director now owns 20,719 shares in the company, valued at approximately $5,490,535. The trade was a 2.36 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,934 shares of company stock worth $5,206,598. Corporate insiders own 2.30% of the company's stock.

Institutional Trading of SiTime

Hedge funds and other institutional investors have recently modified their holdings of the company. Signaturefd LLC boosted its stake in shares of SiTime by 67.4% in the third quarter. Signaturefd LLC now owns 149 shares of the company's stock worth $26,000 after acquiring an additional 60 shares during the period. Blue Trust Inc. increased its position in SiTime by 44.7% in the fourth quarter. Blue Trust Inc. now owns 217 shares of the company's stock worth $47,000 after purchasing an additional 67 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of SiTime by 278.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock worth $60,000 after buying an additional 206 shares during the last quarter. AlphaQuest LLC raised its position in SiTime by 8,460.0% during the fourth quarter. AlphaQuest LLC now owns 428 shares of the company's stock valued at $92,000 after purchasing an additional 423 shares during the period. Finally, Van ECK Associates Corp bought a new stake in shares of SiTime in the 3rd quarter valued at approximately $123,000. 84.31% of the stock is owned by hedge funds and other institutional investors.

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.