SiTime (NASDAQ:SITM) Price Target Raised to $225.00 at Needham & Company LLC

SiTime (NASDAQ:SITM) had its price objective hoisted by Needham & Company LLC from $140.00 to $225.00 in a report issued on Thursday,Benzinga reports. They currently have a buy rating on the stock.

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

SiTime Trading Down 0.0 %

Shares of SiTime stock traded down $0.06 during trading on Thursday, reaching $225.45. The company’s stock had a trading volume of 337,459 shares, compared to its average volume of 205,572. The stock has a 50-day moving average price of $167.54 and a two-hundred day moving average price of $140.26. SiTime has a one year low of $72.39 and a one year high of $228.12. The stock has a market capitalization of $5.21 billion, a P/E ratio of -53.58 and a beta of 1.83.

SiTime (NASDAQ:SITM) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.08. SiTime had a negative return on equity of 9.88% and a negative net margin of 53.55%. The business had revenue of $43.90 million during the quarter, compared to analysts’ expectations of $41.01 million. During the same period in the previous year, the business posted ($1.17) earnings per share. The firm’s revenue for the quarter was up 58.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that SiTime will post -3.03 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Piyush B. Sevalia sold 807 shares of SiTime 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 sale, the insider now directly owns 87,534 shares in the company, valued at $14,005,440. This trade 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 can be accessed through the SEC website. In other news, insider Piyush B. Sevalia sold 807 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $160.00, for a total transaction of $129,120.00. Following the completion of the transaction, the insider now directly owns 87,534 shares in the company, valued at approximately $14,005,440. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Piyush B. Sevalia sold 1,338 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $180.00, for a total value of $240,840.00. Following the transaction, the insider now owns 86,196 shares of the company’s stock, valued at $15,515,280. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,464 shares of company stock worth $5,372,893 over the last three months. 2.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SiTime

Institutional investors have recently modified their holdings of the stock. Signaturefd LLC grew its position in shares of SiTime by 67.4% during the 3rd quarter. Signaturefd LLC now owns 149 shares of the company’s stock worth $26,000 after buying an additional 60 shares during the period. Nisa Investment Advisors LLC grew its position in shares of 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 buying an additional 88 shares during the period. GAMMA Investing LLC grew its position in shares of SiTime by 281.0% in the 2nd quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock valued at $47,000 after purchasing an additional 281 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of SiTime in the 2nd quarter valued at approximately $49,000. Finally, Bessemer Group Inc. grew its position in shares of SiTime by 70.1% in the 1st quarter. Bessemer Group Inc. now owns 1,213 shares of the company’s stock valued at $113,000 after purchasing an additional 500 shares during the period. 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.