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

SiTime (NASDAQ:SITM) had its target price increased by investment analysts at Barclays from $90.00 to $130.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Barclays‘s price target suggests a potential downside of 42.34% from the company’s current price.

A number of other equities research analysts have also commented on SITM. Stifel Nicolaus raised their price target on SiTime from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Needham & Company LLC raised their target price on shares of SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Roth Mkm upped their price target on shares of SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a report on Thursday.

SiTime Stock Performance

Shares of NASDAQ:SITM opened at $225.45 on Friday. The company has a 50 day moving average price of $169.16 and a two-hundred day moving average price of $141.31. The company has a market capitalization of $5.21 billion, a PE ratio of -54.46 and a beta of 1.83. SiTime has a 52 week low of $72.39 and a 52 week high of $228.12.

SiTime (NASDAQ:SITM) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.14. The business had revenue of $57.70 million during the quarter, compared to analysts’ expectations of $55.10 million. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.88%. The firm’s quarterly revenue was up 62.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.81) EPS. On average, sell-side analysts forecast that SiTime will post -3.03 earnings per share for the current year.

Insider Transactions at SiTime

In related news, insider Fariborz Assaderaghi sold 1,083 shares of SiTime stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $139.05, for a total value of $150,591.15. Following the sale, the insider now owns 112,584 shares of the company’s stock, valued at approximately $15,654,805.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Piyush B. Sevalia sold 807 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $160.00, for a total value of $129,120.00. Following the completion of the transaction, the insider now owns 87,534 shares in the company, valued at $14,005,440. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Fariborz Assaderaghi sold 1,083 shares of SiTime stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $139.05, for a total value of $150,591.15. Following the completion of the sale, the insider now directly owns 112,584 shares in the company, valued at approximately $15,654,805.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,464 shares of company stock valued at $5,372,893 over the last three months. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SITM. Vanguard Group Inc. boosted its holdings in shares of SiTime by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock valued at $205,412,000 after buying an additional 85,800 shares during the last quarter. Principal Financial Group Inc. raised its position in SiTime by 15.4% during the third quarter. Principal Financial Group Inc. now owns 448,930 shares of the company’s stock worth $76,996,000 after acquiring an additional 59,931 shares in the last quarter. William Blair Investment Management LLC lifted its stake in SiTime by 62.0% in the second quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock valued at $25,883,000 after acquiring an additional 79,648 shares during the last quarter. Driehaus Capital Management LLC bought a new position in shares of SiTime in the 2nd quarter valued at about $16,831,000. Finally, Grandeur Peak Global Advisors LLC increased its stake in shares of SiTime by 34.7% during the 1st quarter. Grandeur Peak Global Advisors LLC now owns 95,281 shares of the company’s stock worth $8,883,000 after purchasing an additional 24,542 shares during the last quarter. 84.31% of the stock is currently 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.