SiTime (NASDAQ:SITM) Price Target Cut to $180.00 by Analysts at Stifel Nicolaus

SiTime (NASDAQ:SITM - Free Report) had its target price reduced by Stifel Nicolaus from $270.00 to $180.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

SITM has been the topic of several other reports. Raymond James restated an "outperform" rating and set a $250.00 target price (up from $215.00) on shares of SiTime in a report on Thursday, February 6th. Needham & Company LLC raised their price objective on shares of SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Finally, Barclays upped their target price on shares of SiTime from $130.00 to $160.00 and gave the stock an "underweight" rating in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $214.00.

SiTime Trading Down 0.2 %

Shares of NASDAQ SITM traded down $0.31 during mid-day trading on Thursday, reaching $129.47. 194,781 shares of the company's stock were exchanged, compared to its average volume of 241,410. SiTime has a twelve month low of $72.39 and a twelve month high of $268.18. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of -31.97 and a beta of 1.98. The business has a fifty day simple moving average of $158.11 and a 200 day simple moving average of $192.04.

Insider Buying and Selling

In other news, insider Piyush B. Sevalia sold 1,038 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $157.64, for a total transaction of $163,630.32. Following the completion of the transaction, the insider now directly owns 92,847 shares in the company, valued at $14,636,401.08. This represents a 1.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Lionel Bonnot sold 3,501 shares of SiTime stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $174.25, for a total value of $610,049.25. Following the completion of the sale, the insider now directly owns 87,940 shares in the company, valued at approximately $15,323,545. This represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,542 shares of company stock worth $978,713. 2.30% of the stock is owned by insiders.

Institutional Investors Weigh In On SiTime

Several large investors have recently made changes to their positions in SITM. GAMMA Investing LLC raised its position in SiTime by 27,559.1% during the first quarter. GAMMA Investing LLC now owns 261,102 shares of the company's stock worth $39,915,000 after acquiring an additional 260,158 shares in the last quarter. Invesco Ltd. raised its holdings in shares of SiTime by 11.0% in the 4th quarter. Invesco Ltd. now owns 983,175 shares of the company's stock valued at $210,921,000 after purchasing an additional 97,062 shares during the period. Hood River Capital Management LLC raised its holdings in shares of SiTime by 27.0% in the 4th quarter. Hood River Capital Management LLC now owns 421,960 shares of the company's stock valued at $90,523,000 after purchasing an additional 89,632 shares during the period. Emerald Advisers LLC acquired a new stake in SiTime in the 4th quarter valued at about $18,673,000. Finally, Capital World Investors bought a new position in SiTime during the fourth quarter worth about $17,654,000. Institutional investors and hedge funds 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.