Stifel Nicolaus Forecasts Strong Price Appreciation for SiTime (NASDAQ:SITM) Stock

SiTime (NASDAQ:SITM) had its target price boosted by Stifel Nicolaus from $230.00 to $250.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on the company. Roth Mkm upped their price objective on SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC upped their price target on shares of SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Barclays lifted their price objective on shares of SiTime from $90.00 to $130.00 and gave the company an “underweight” rating in a research report on Friday, November 8th.

SiTime Stock Up 1.0 %

Shares of SITM stock opened at $233.20 on Monday. SiTime has a 12 month low of $72.39 and a 12 month high of $268.18. The company’s fifty day simple moving average is $217.87 and its 200-day simple moving average is $173.99. The firm has a market cap of $5.45 billion, a PE ratio of -56.33 and a beta of 1.82.

SiTime (NASDAQ:SITM) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.26 by $0.14. The firm had revenue of $57.70 million for 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 9.89%. The company’s revenue for the quarter was up 62.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.81) EPS. On average, equities analysts predict that SiTime will post -2.98 earnings per share for the current fiscal year.

Insider Buying and Selling at SiTime

In other news, insider Fariborz Assaderaghi sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $210.16, for a total transaction of $210,160.00. Following the completion of the sale, the insider now owns 108,574 shares in the company, valued at $22,817,911.84. The trade was a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Samsheer Ahamad sold 4,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $172.73, for a total value of $690,920.00. Following the transaction, the insider now owns 78,979 shares in the company, valued at approximately $13,642,042.67. This trade represents a 4.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,931 shares of company stock valued at $7,017,644 in the last quarter. 2.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SiTime

Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC raised its stake in SiTime by 1.1% in the 3rd quarter. FMR LLC now owns 3,469,843 shares of the company’s stock worth $595,113,000 after purchasing an additional 39,119 shares in the last quarter. State Street Corp raised its position in shares of SiTime by 3.1% in the third quarter. State Street Corp now owns 922,974 shares of the company’s stock valued at $158,299,000 after buying an additional 27,692 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of SiTime by 15.4% in the third quarter. Principal Financial Group Inc. now owns 448,930 shares of the company’s stock valued at $76,996,000 after buying an additional 59,931 shares during the period. Geode Capital Management LLC grew its position in SiTime by 3.7% during the third quarter. Geode Capital Management LLC now owns 440,922 shares of the company’s stock worth $75,637,000 after buying an additional 15,759 shares in the last quarter. Finally, William Blair Investment Management LLC grew its position in SiTime by 62.0% during the second quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock worth $25,883,000 after buying an additional 79,648 shares in the last quarter. 84.31% of the stock is currently owned by institutional investors and hedge funds.

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.