SiTime (NASDAQ:SITM) Price Target Raised to $225.00

by · The Markets Daily

SiTime (NASDAQ:SITM – Free Report) had its price objective hoisted by Needham & Company LLC from $140.00 to $225.00 in a research note released on Thursday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other equities research analysts have also weighed in on SITM. Stifel Nicolaus upped their target price on shares of SiTime from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Barclays lowered shares of SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 price objective on the stock. in a research report on Tuesday, August 27th.

Get Our Latest Stock Analysis on SiTime

SiTime Trading Down 0.0 %

Shares of NASDAQ SITM opened at $225.45 on Thursday. The firm’s 50-day moving average price is $169.16 and its 200-day moving average price is $141.31. SiTime has a 1-year low of $72.39 and a 1-year high of $228.12.

SiTime (NASDAQ:SITM – Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.14. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. The business had revenue of $57.70 million for the quarter, compared to the consensus estimate of $55.10 million. During the same period in the prior year, the business earned ($0.81) EPS. The firm’s revenue for the quarter was up 62.4% on a year-over-year basis. On average, analysts predict that SiTime will post -3.03 earnings per share for the current fiscal year.

Insider Transactions at SiTime

In related news, insider Fariborz Assaderaghi sold 1,083 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $139.05, for a total transaction of $150,591.15. Following the completion of the transaction, the insider now owns 112,584 shares of the company’s stock, valued at approximately $15,654,805.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other SiTime news, insider Fariborz Assaderaghi sold 1,083 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $139.05, for a total transaction of $150,591.15. Following the sale, the insider now owns 112,584 shares in the company, valued at $15,654,805.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Samsheer Ahamad sold 4,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $172.73, for a total value of $690,920.00. Following the completion of the transaction, the insider now owns 78,979 shares of the company’s stock, valued at $13,642,042.67. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,464 shares of company stock valued at $5,372,893. 2.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Driehaus Capital Management LLC bought a new position in SiTime during the 2nd quarter valued at approximately $16,831,000. Vanguard Group Inc. boosted its holdings in SiTime by 4.1% in the first quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock valued at $205,412,000 after acquiring an additional 85,800 shares in the last quarter. William Blair Investment Management LLC increased its position in SiTime by 62.0% during the 2nd quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock valued at $25,883,000 after purchasing an additional 79,648 shares during the period. F M Investments LLC bought a new position in SiTime in the 2nd quarter worth $8,909,000. Finally, LMR Partners LLP lifted its position in SiTime by 705.0% during the third quarter. LMR Partners LLP now owns 80,500 shares of the company’s stock valued at $13,807,000 after buying an additional 70,500 shares during the period. 84.31% of the stock is owned by institutional investors.

SiTime Company Profile

(Get Free Report)

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.

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