SiTime (NASDAQ:SITM - Free Report) had its target price decreased by Barclays from $180.00 to $110.00 in a research note issued to investors on Tuesday,Benzinga reports. Barclays currently has an underweight rating on the stock.
Several other analysts have also weighed in on SITM. Stifel Nicolaus cut their price objective on SiTime from $270.00 to $180.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Raymond James reissued an "outperform" rating and issued a $250.00 price target (up from $215.00) on shares of SiTime in a report on Thursday, February 6th. Finally, Needham & Company LLC lifted their price objective on shares of SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, SiTime has a consensus rating of "Moderate Buy" and an average target price of $204.00.
Check Out Our Latest Stock Report on SiTime
SiTime Price Performance
Shares of NASDAQ SITM traded up $4.09 during mid-day trading on Tuesday, reaching $153.04. 178,872 shares of the company traded hands, compared to its average volume of 241,405. The firm has a market cap of $3.63 billion, a PE ratio of -37.79 and a beta of 1.98. SiTime has a fifty-two week low of $86.73 and a fifty-two week high of $268.18. The stock has a fifty day simple moving average of $154.53 and a 200-day simple moving average of $190.64.
Insider Buying and Selling at SiTime
In other news, insider Lionel Bonnot sold 3,501 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $174.25, for a total transaction of $610,049.25. Following the sale, the insider now owns 87,940 shares in the company, valued at $15,323,545. The trade was a 3.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Fariborz Assaderaghi sold 1,003 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $204.42, for a total transaction of $205,033.26. Following the completion of the transaction, the insider now directly owns 99,678 shares of the company's stock, valued at $20,376,176.76. This represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,542 shares of company stock valued at $978,713. 2.30% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. K.J. Harrison & Partners Inc acquired a new stake in SiTime during the 1st quarter worth about $764,000. Illinois Municipal Retirement Fund lifted its position in shares of SiTime by 9.0% in the first quarter. Illinois Municipal Retirement Fund now owns 8,849 shares of the company's stock worth $1,353,000 after purchasing an additional 734 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of SiTime by 49.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 2,637 shares of the company's stock worth $403,000 after purchasing an additional 867 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of SiTime during the first quarter worth approximately $32,000. Finally, GAMMA Investing LLC grew its position in SiTime by 80.9% during the first quarter. GAMMA Investing LLC now owns 1,708 shares of the company's stock valued at $261,000 after purchasing an additional 764 shares in the last quarter. Hedge funds and other institutional investors own 84.31% of the company's stock.
About SiTime
(
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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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