Barclays Raises SiTime (NASDAQ:SITM) Price Target to $130.00

SiTime (NASDAQ:SITM) had its price target upped by Barclays from $90.00 to $130.00 in a report released on Friday,Benzinga reports. They currently have an underweight rating on the stock.

Several other brokerages have also recently issued reports on SITM. Stifel Nicolaus upped their price objective on shares of SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Roth Mkm increased their price target on SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a report on Thursday. Finally, Needham & Company LLC lifted their price objective on SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday.

SiTime Stock Performance

Shares of NASDAQ:SITM traded down $0.06 during trading on Friday, reaching $225.45. The stock had a trading volume of 337,459 shares, compared to its average volume of 205,572. SiTime has a 1-year low of $72.39 and a 1-year high of $228.12. The stock has a market cap of $5.21 billion, a PE ratio of -54.46 and a beta of 1.83. The business has a fifty day moving average price of $169.16 and a 200-day moving average price of $141.31.

SiTime (NASDAQ:SITM) last announced its 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 net margin of 53.55% and a negative return on equity of 9.88%. 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 company posted ($0.81) EPS. The firm’s quarterly revenue was up 62.4% on a year-over-year basis. Sell-side analysts expect that SiTime will post -3.03 earnings per share for the current year.

Insider Activity

In other news, insider Samsheer Ahamad sold 4,000 shares of the 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 transaction, the insider now directly owns 78,979 shares in the company, valued at approximately $13,642,042.67. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other SiTime news, insider Piyush B. Sevalia sold 807 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $160.00, for a total transaction of $129,120.00. Following the sale, the insider now directly owns 87,534 shares in the company, valued at $14,005,440. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Samsheer Ahamad sold 4,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $172.73, for a total transaction of $690,920.00. Following the sale, the insider now directly owns 78,979 shares in the company, valued at $13,642,042.67. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,464 shares of company stock valued at $5,372,893 in the last 90 days. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On SiTime

Several large investors have recently added to or reduced their stakes in SITM. Signaturefd LLC grew its stake in shares of SiTime by 67.4% in the third quarter. Signaturefd LLC now owns 149 shares of the company’s stock worth $26,000 after acquiring an additional 60 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in SiTime by 59.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock worth $29,000 after purchasing an additional 88 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in SiTime by 0.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 14,714 shares of the company’s stock worth $2,524,000 after purchasing an additional 94 shares during the period. American International Group Inc. raised its position in SiTime by 1.2% in the 1st quarter. American International Group Inc. now owns 9,566 shares of the company’s stock valued at $892,000 after purchasing an additional 110 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in shares of SiTime by 2.3% in the 3rd quarter. Amalgamated Bank now owns 5,509 shares of the company’s stock valued at $945,000 after buying an additional 122 shares during the period. 84.31% of the stock is owned by hedge funds and other 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.