SiTime (NASDAQ:SITM) Given Outperform Rating at Raymond James

Raymond James restated their outperform rating on shares of SiTime (NASDAQ:SITM - Free Report) in a report published on Thursday morning,Benzinga reports. Raymond James currently has a $250.00 price target on the stock, up from their prior price target of $215.00.

SITM has been the subject of several other research reports. Barclays increased their price objective on SiTime from $130.00 to $160.00 and gave the company an "underweight" rating in a report on Friday, January 17th. Needham & Company LLC upped their target price on shares of SiTime from $225.00 to $250.00 and gave the company a "buy" rating in a report on Thursday. Roth Mkm boosted their price target on SiTime from $205.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Finally, Stifel Nicolaus increased their price target on SiTime from $250.00 to $270.00 and gave the company a "buy" rating in a research note on Thursday. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $232.00.

SiTime Price Performance

NASDAQ:SITM traded down $8.04 on Thursday, hitting $171.84. 496,559 shares of the company's stock were exchanged, compared to its average volume of 260,402. The firm has a 50-day moving average price of $227.34 and a 200-day moving average price of $187.06. The company has a market cap of $4.01 billion, a P/E ratio of -42.43 and a beta of 1.80. SiTime has a 52 week low of $72.39 and a 52 week high of $268.18.

Insider Transactions at SiTime

In related news, Director Raman Chitkara sold 500 shares of the business's stock in a transaction 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 $5,490,535. The trade was a 2.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Fariborz Assaderaghi sold 1,003 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $204.42, for a total transaction of $205,033.26. Following the completion of the transaction, the insider now owns 99,678 shares of the company's stock, valued at approximately $20,376,176.76. This trade represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,934 shares of company stock valued at $5,206,598. 2.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SiTime

Several institutional investors and hedge funds have recently added to or reduced their stakes in SITM. Signaturefd LLC increased its holdings in SiTime by 67.4% in the third quarter. Signaturefd LLC now owns 149 shares of the company's stock valued at $26,000 after purchasing an additional 60 shares during the period. Blue Trust Inc. increased its stake in shares of 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 buying an additional 67 shares during the period. Smartleaf Asset Management LLC raised its position in shares of 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. AlphaQuest LLC lifted its stake in shares of SiTime by 8,460.0% in the fourth quarter. AlphaQuest LLC now owns 428 shares of the company's stock worth $92,000 after acquiring an additional 423 shares during the period. Finally, Van ECK Associates Corp bought a new stake in SiTime in the third quarter valued at approximately $123,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.

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.