Barclays Raises SiTime (NASDAQ:SITM) Price Target to $160.00

SiTime (NASDAQ:SITM - Get Free Report) had its price objective hoisted by analysts at Barclays from $130.00 to $160.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an "underweight" rating on the stock. Barclays's price objective would indicate a potential downside of 36.25% from the company's previous close.

Other analysts also recently issued reports about the stock. Needham & Company LLC upped their price objective on shares of SiTime from $140.00 to $225.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Roth Mkm raised their price target on SiTime from $205.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Finally, Stifel Nicolaus boosted their price objective on SiTime from $230.00 to $250.00 and gave the stock a "buy" rating in a research report on Monday, January 6th.

SiTime Price Performance

Shares of SITM stock traded up $8.04 on Friday, hitting $250.97. The company's stock had a trading volume of 123,881 shares, compared to its average volume of 196,014. The stock has a market capitalization of $5.86 billion, a price-to-earnings ratio of -60.62 and a beta of 1.82. SiTime has a fifty-two week low of $72.39 and a fifty-two week high of $268.18. The firm's fifty day moving average price is $224.50 and its 200-day moving average price is $179.61.

SiTime (NASDAQ:SITM - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.14. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. The company had revenue of $57.70 million during the quarter, compared to the consensus estimate of $55.10 million. During the same quarter in the prior year, the company posted ($0.81) EPS. The firm's revenue was up 62.4% on a year-over-year basis. Analysts predict that SiTime will post -2.98 EPS for the current fiscal year.

Insider Transactions at SiTime

In other SiTime news, insider Fariborz Assaderaghi sold 1,000 shares of the company's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $210.16, for a total value of $210,160.00. Following the sale, the insider now directly owns 108,574 shares in the company, valued at $22,817,911.84. This represents a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Samsheer Ahamad sold 4,000 shares of SiTime stock in a transaction on Friday, November 1st. The shares were sold at an average price of $172.73, for a total value of $690,920.00. Following the transaction, the insider now directly owns 78,979 shares of the company's stock, valued at approximately $13,642,042.67. The trade was a 4.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,931 shares of company stock worth $7,017,644. 2.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SiTime

A number of hedge funds have recently made changes to their positions in the company. State of New Jersey Common Pension Fund D acquired a new position in SiTime in the second quarter worth $1,841,000. Vanguard Personalized Indexing Management LLC acquired a new stake in SiTime in the 2nd quarter valued at about $206,000. Hsbc Holdings PLC acquired a new position in shares of SiTime during the second quarter worth approximately $214,000. Sei Investments Co. grew its stake in shares of SiTime by 2.9% during the second quarter. Sei Investments Co. now owns 14,670 shares of the company's stock valued at $1,825,000 after purchasing an additional 409 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its holdings in shares of SiTime by 8.0% in the second quarter. Public Sector Pension Investment Board now owns 38,743 shares of the company's stock valued at $4,819,000 after purchasing an additional 2,861 shares in 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.