SiTime (NASDAQ:SITM) Given New $180.00 Price Target at Barclays

SiTime (NASDAQ:SITM - Free Report) had its target price lifted by Barclays from $135.00 to $180.00 in a research note released on Wednesday morning,Benzinga reports. They currently have an underweight rating on the stock.

Separately, Stifel Nicolaus upped their price target on shares of SiTime from $180.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, SiTime presently has an average rating of "Moderate Buy" and a consensus price target of $224.00.

SiTime Stock Down 0.3%

Shares of SITM traded down $0.65 during trading on Wednesday, reaching $214.95. 115,119 shares of the company traded hands, compared to its average volume of 248,701. SiTime has a twelve month low of $105.40 and a twelve month high of $268.18. The stock has a 50-day simple moving average of $172.10 and a 200-day simple moving average of $190.92. The stock has a market cap of $5.10 billion, a PE ratio of -53.07 and a beta of 2.24.

SiTime (NASDAQ:SITM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.15. SiTime had a negative return on equity of 10.12% and a negative net margin of 46.18%. The business had revenue of $60.31 million during the quarter, compared to analysts' expectations of $54.01 million. During the same quarter last year, the business posted ($0.08) EPS. The business's quarterly revenue was up 82.7% compared to the same quarter last year. On average, equities research analysts predict that SiTime will post -2.44 EPS for the current year.

Insider Buying and Selling at SiTime

In other SiTime news, insider Fariborz Assaderaghi sold 1,267 shares of SiTime stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $147.80, for a total value of $187,262.60. Following the transaction, the insider now owns 113,584 shares in the company, valued at $16,787,715.20. This trade represents a 1.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Rajesh Vashist sold 10,000 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $215.00, for a total value of $2,150,000.00. Following the transaction, the chief executive officer now owns 474,763 shares in the company, valued at approximately $102,074,045. This represents a 2.06% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 62,779 shares of company stock valued at $12,942,678. Corporate insiders own 2.10% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SITM. Mutual of America Capital Management LLC increased its stake in shares of SiTime by 1.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 2,866 shares of the company's stock valued at $615,000 after purchasing an additional 48 shares during the period. Blue Trust Inc. boosted its position in shares of SiTime by 44.7% in the fourth quarter. Blue Trust Inc. now owns 217 shares of the company's stock worth $47,000 after buying an additional 67 shares during the period. Summit Investment Advisors Inc. grew its position in SiTime by 4.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,945 shares of the company's stock valued at $417,000 after purchasing an additional 83 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of SiTime by 33.6% during the 1st quarter. Advisors Asset Management Inc. now owns 350 shares of the company's stock worth $54,000 after purchasing an additional 88 shares in the last quarter. Finally, Xponance Inc. lifted its position in shares of SiTime by 7.2% in the first quarter. Xponance Inc. now owns 1,419 shares of the company's stock worth $217,000 after buying an additional 95 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.