Stifel Nicolaus Boosts SiTime (NASDAQ:SITM) Price Target to $175.00

SiTime (NASDAQ:SITM) had its price target increased by stock analysts at Stifel Nicolaus from $150.00 to $175.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 18.55% from the stock’s previous close.

Separately, Needham & Company LLC reissued a “buy” rating and set a $130.00 price objective on shares of SiTime in a research note on Tuesday, June 25th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $144.17.

SiTime Price Performance

Shares of SITM stock traded down $9.50 during midday trading on Thursday, reaching $147.62. 96,227 shares of the company traded hands, compared to its average volume of 210,849. The firm’s 50 day simple moving average is $128.91 and its two-hundred day simple moving average is $109.67. SiTime has a 1-year low of $72.39 and a 1-year high of $165.11. The firm has a market cap of $3.38 billion, a PE ratio of -36.04 and a beta of 1.82.

SiTime (NASDAQ:SITM) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.17). SiTime had a negative return on equity of 11.29% and a negative net margin of 66.88%. The business had revenue of $33.02 million for the quarter, compared to analysts’ expectations of $32.02 million. As a group, research analysts anticipate that SiTime will post -2.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Vincent P. Pangrazio sold 1,962 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $150.00, for a total transaction of $294,300.00. Following the completion of the sale, the insider now directly owns 69,175 shares of the company’s stock, valued at approximately $10,376,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Fariborz Assaderaghi sold 1,288 shares of SiTime stock in a transaction on Friday, April 26th. The shares were sold at an average price of $84.25, for a total transaction of $108,514.00. Following the transaction, the insider now owns 110,203 shares in the company, valued at approximately $9,284,602.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Vincent P. Pangrazio sold 1,962 shares of SiTime stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $150.00, for a total transaction of $294,300.00. Following the transaction, the insider now owns 69,175 shares in the company, valued at approximately $10,376,250. The disclosure for this sale can be found here. In the last three months, insiders sold 53,850 shares of company stock valued at $6,926,104. Company insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On SiTime

Hedge funds and other institutional investors have recently made changes to their positions in the business. Yousif Capital Management LLC lifted its holdings in SiTime by 1.1% in the 4th quarter. Yousif Capital Management LLC now owns 8,554 shares of the company’s stock worth $1,044,000 after buying an additional 95 shares in the last quarter. American International Group Inc. lifted its holdings in SiTime by 1.2% in the 1st quarter. American International Group Inc. now owns 9,566 shares of the company’s stock worth $892,000 after buying an additional 110 shares in the last quarter. Nemes Rush Group LLC lifted its holdings in SiTime by 26.9% in the 4th quarter. Nemes Rush Group LLC now owns 542 shares of the company’s stock worth $66,000 after buying an additional 115 shares in the last quarter. Pursue Wealth Partners LLC lifted its holdings in SiTime by 0.6% in the 4th quarter. Pursue Wealth Partners LLC now owns 22,618 shares of the company’s stock worth $2,761,000 after buying an additional 139 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in SiTime by 78.2% in the 4th quarter. Quadrant Capital Group LLC now owns 335 shares of the company’s stock worth $41,000 after buying an additional 147 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.