Barclays Forecasts Strong Price Appreciation for SiTime (NASDAQ:SITM) Stock

SiTime (NASDAQ:SITM - Free Report) had its target price raised by Barclays from $90.00 to $130.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an underweight rating on the stock.

A number of other equities analysts also recently commented on the company. Needham & Company LLC lifted their target price on SiTime from $140.00 to $225.00 and gave the company a "buy" rating in a research note on Thursday. Roth Mkm lifted their price target on SiTime from $205.00 to $230.00 and gave the company a "buy" rating in a report on Thursday. Finally, Stifel Nicolaus increased their price objective on SiTime from $175.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, October 17th.

SiTime Stock Down 0.0 %

Shares of SITM traded down $0.06 during trading on Friday, reaching $225.45. The company's stock had a trading volume of 337,459 shares, compared to its average volume of 205,572. SiTime has a twelve month low of $72.39 and a twelve month high of $228.12. The company has a market cap of $5.21 billion, a price-to-earnings ratio of -54.46 and a beta of 1.83. The company has a fifty day moving average of $169.16 and a two-hundred day moving average of $141.31.

SiTime (NASDAQ:SITM - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.14. SiTime had a negative return on equity of 9.88% and a negative net margin of 53.55%. The firm had revenue of $57.70 million for the quarter, compared to analysts' expectations of $55.10 million. During the same quarter in the prior year, the firm posted ($0.81) earnings per share. SiTime's revenue for the quarter was up 62.4% compared to the same quarter last year. As a group, equities analysts forecast that SiTime will post -3.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other SiTime news, insider Samsheer Ahamad sold 4,000 shares of the company's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $172.73, for a total value of $690,920.00. Following the completion of the sale, the insider now directly owns 78,979 shares of the company's stock, valued at approximately $13,642,042.67. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other SiTime news, insider Samsheer Ahamad sold 4,000 shares of the company's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $172.73, for a total value of $690,920.00. Following the transaction, the insider now owns 78,979 shares of the company's stock, valued at approximately $13,642,042.67. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Fariborz Assaderaghi sold 1,083 shares of the company's stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $139.05, for a total value of $150,591.15. Following the sale, the insider now directly owns 112,584 shares of the company's stock, valued at approximately $15,654,805.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,464 shares of company stock worth $5,372,893 over the last ninety days. Company insiders own 2.30% of the company's stock.

Institutional Investors Weigh In On SiTime

Several hedge funds have recently made changes to their positions in SITM. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in SiTime by 73.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 29,500 shares of the company's stock worth $2,750,000 after acquiring an additional 12,500 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in shares of SiTime by 31.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 18,404 shares of the company's stock worth $1,712,000 after purchasing an additional 4,410 shares during the period. UniSuper Management Pty Ltd purchased a new position in SiTime during the first quarter valued at approximately $363,000. Swedbank AB acquired a new position in SiTime in the 1st quarter valued at approximately $2,144,000. Finally, Vanguard Group Inc. lifted its position in 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 in the last quarter. Hedge funds and other institutional investors own 84.31% of the company's stock.

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.