SiTime (NASDAQ:SITM) Stock Price Expected to Rise, Roth Mkm Analyst Says

SiTime (NASDAQ:SITM) had its price objective hoisted by Roth Mkm from $205.00 to $230.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

SITM has been the topic of a number of other research reports. Barclays cut shares of SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 target price on the stock. in a research note on Tuesday, August 27th. Stifel Nicolaus upped their price objective on SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Needham & Company LLC increased their target price on SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday.

SiTime Stock Performance

Shares of NASDAQ:SITM opened at $225.45 on Thursday. The business has a 50 day moving average price of $169.16 and a 200 day moving average price of $141.31. SiTime has a twelve month low of $72.39 and a twelve month high of $228.12.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data 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 9.89%. The company had revenue of $57.70 million for the quarter, compared to the consensus estimate of $55.10 million. During the same quarter in the previous year, the firm posted ($0.81) EPS. The business’s revenue was up 62.4% compared to the same quarter last year. Research analysts forecast that SiTime will post -3.03 EPS for the current fiscal year.

Insider Activity at SiTime

In other news, insider Fariborz Assaderaghi sold 1,083 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 112,584 shares of the company’s stock, valued at $15,654,805.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 stock was sold at an average price of $139.05, for a total value of $150,591.15. Following the completion of the transaction, the insider now directly owns 112,584 shares in the company, valued at approximately $15,654,805.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Rajesh Vashist sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $170.07, for a total transaction of $3,401,400.00. Following the completion of the transaction, the chief executive officer now owns 424,417 shares of the company’s stock, valued at $72,180,599.19. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,464 shares of company stock worth $5,372,893 in the last ninety days. Company insiders own 2.30% of the company’s stock.

Institutional Trading of SiTime

A number of hedge funds and other institutional investors have recently modified their holdings of SITM. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in SiTime by 73.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 29,500 shares of the company’s stock valued at $2,750,000 after purchasing an additional 12,500 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of SiTime by 31.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 18,404 shares of the company’s stock worth $1,712,000 after acquiring an additional 4,410 shares during the period. UniSuper Management Pty Ltd bought a new position in shares of SiTime during the 1st quarter worth approximately $363,000. Swedbank AB acquired a new position in shares of SiTime during the 1st quarter worth approximately $2,144,000. Finally, Vanguard Group Inc. raised its stake in 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 acquiring an additional 85,800 shares during the period. Institutional investors and hedge funds own 84.31% of the company’s stock.

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.