Stifel Nicolaus Issues Positive Forecast for SiTime (NASDAQ:SITM) Stock Price

SiTime (NASDAQ:SITM - Get Free Report) had its target price upped by analysts at Stifel Nicolaus from $250.00 to $270.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Stifel Nicolaus' target price would indicate a potential upside of 57.12% from the stock's current price.

Several other research analysts also recently commented on the company. Barclays lifted their target price on SiTime from $130.00 to $160.00 and gave the stock an "underweight" rating in a research note on Friday, January 17th. Roth Mkm raised their price objective on SiTime from $205.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Finally, Needham & Company LLC upped their target price on SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $232.00.

SiTime Stock Down 4.5 %

SITM traded down $8.04 during trading on Thursday, hitting $171.84. The company had a trading volume of 494,595 shares, compared to its average volume of 256,783. The firm's 50-day moving average price is $227.34 and its 200 day moving average price is $187.06. The company has a market capitalization of $4.01 billion, a PE ratio of -42.43 and a beta of 1.80. SiTime has a one year low of $72.39 and a one year high of $268.18.

Insider Activity

In other news, insider Fariborz Assaderaghi sold 363 shares of the business's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $216.25, for a total value of $78,498.75. Following the transaction, the insider now directly owns 104,322 shares of the company's stock, valued at $22,559,632.50. The trade was a 0.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 value of $132,500.00. Following the sale, the director now directly owns 20,719 shares of the company's stock, valued at $5,490,535. This represents a 2.36 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,934 shares of company stock valued at $5,206,598. Company insiders own 2.30% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SITM. FMR LLC increased its holdings in SiTime by 1.1% during the 3rd quarter. FMR LLC now owns 3,469,843 shares of the company's stock worth $595,113,000 after purchasing an additional 39,119 shares in the last quarter. State Street Corp grew its position in SiTime by 3.1% in the 3rd quarter. State Street Corp now owns 922,974 shares of the company's stock worth $158,299,000 after purchasing an additional 27,692 shares in the last quarter. Principal Financial Group Inc. increased its stake in SiTime by 15.4% in the 3rd quarter. Principal Financial Group Inc. now owns 448,930 shares of the company's stock valued at $76,996,000 after buying an additional 59,931 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of SiTime by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 440,922 shares of the company's stock worth $75,637,000 after buying an additional 15,759 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of SiTime by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 171,937 shares of the company's stock valued at $36,886,000 after acquiring an additional 6,117 shares in the last quarter. 84.31% of the stock is owned by institutional investors.

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.