SiTime (NASDAQ:SITM) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

SiTime (NASDAQ:SITM - Free Report) had its price target lifted by Stifel Nicolaus from $230.00 to $250.00 in a report issued on Monday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

SITM has been the topic of several other reports. Roth Mkm upped their price objective on shares of SiTime from $205.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Needham & Company LLC upped their price target on shares of SiTime from $140.00 to $225.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Finally, Barclays lifted their price objective on shares of SiTime from $90.00 to $130.00 and gave the company an "underweight" rating in a research note on Friday, November 8th.

SiTime Stock Up 0.9 %

NASDAQ SITM traded up $2.13 during trading hours on Monday, reaching $236.48. 277,950 shares of the company were exchanged, compared to its average volume of 187,249. The stock has a market capitalization of $5.52 billion, a P/E ratio of -57.12 and a beta of 1.82. SiTime has a 1 year low of $72.39 and a 1 year high of $268.18. The business's 50 day simple moving average is $214.87 and its 200-day simple moving average is $171.96.

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

Insider Activity

In related news, insider Samsheer Ahamad sold 4,000 shares of SiTime stock in a transaction on Friday, November 1st. The stock was sold at an average price of $172.73, for a total transaction of $690,920.00. Following the completion of the sale, the insider now owns 78,979 shares of the company's stock, valued at approximately $13,642,042.67. This trade represents a 4.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Fariborz Assaderaghi sold 1,002 shares of the company's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $220.94, for a total value of $221,381.88. Following the completion of the transaction, the insider now owns 100,681 shares in the company, valued at $22,244,460.14. This represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,931 shares of company stock worth $7,017,644. 2.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On SiTime

Several hedge funds have recently bought and sold shares of the stock. FMR LLC increased its holdings in shares of SiTime by 1.1% in the 3rd quarter. FMR LLC now owns 3,469,843 shares of the company's stock worth $595,113,000 after buying an additional 39,119 shares during the last quarter. State Street Corp raised its position in SiTime by 3.1% during the third quarter. State Street Corp now owns 922,974 shares of the company's stock valued at $158,299,000 after purchasing an additional 27,692 shares in the last quarter. Principal Financial Group Inc. lifted its stake in SiTime by 15.4% during the third quarter. Principal Financial Group Inc. now owns 448,930 shares of the company's stock worth $76,996,000 after purchasing an additional 59,931 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of SiTime by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 440,922 shares of the company's stock worth $75,637,000 after purchasing an additional 15,759 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its holdings in shares of SiTime by 62.0% in the 2nd quarter. William Blair Investment Management LLC now owns 208,098 shares of the company's stock worth $25,883,000 after purchasing an additional 79,648 shares in the last quarter. 84.31% of the stock is currently owned by 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.