SiTime (NASDAQ:SITM - Get Free Report) had its target price lifted by Stifel Nicolaus from $210.00 to $230.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. Stifel Nicolaus' target price suggests a potential upside of 9.69% from the company's current price.
Separately, Barclays increased their target price on SiTime from $135.00 to $180.00 and gave the company an "underweight" rating in a research note on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat.com, SiTime currently has a consensus rating of "Moderate Buy" and a consensus target price of $228.00.
Read Our Latest Stock Analysis on SITM
SiTime Stock Performance
NASDAQ:SITM traded up $0.46 during trading hours on Friday, hitting $209.68. 16,692 shares of the company's stock traded hands, compared to its average volume of 263,778. The firm has a market cap of $4.97 billion, a P/E ratio of -55.36 and a beta of 2.20. SiTime has a twelve month low of $105.40 and a twelve month high of $268.18. The stock's fifty day moving average price is $208.87 and its two-hundred day moving average price is $188.49.
SiTime (NASDAQ:SITM - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.15. SiTime had a negative return on equity of 9.43% and a negative net margin of 38.60%. The company had revenue of $60.31 million during the quarter, compared to the consensus estimate of $54.01 million. During the same period last year, the business earned ($0.08) EPS. The business's quarterly revenue was up 82.7% on a year-over-year basis. On average, equities research analysts predict that SiTime will post -2.44 earnings per share for the current year.
Insider Buying and Selling
In related news, insider Lionel Bonnot sold 1,991 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $201.36, for a total transaction of $400,907.76. Following the completion of the sale, the insider directly owned 82,579 shares of the company's stock, valued at $16,628,107.44. This trade represents a 2.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Fariborz Assaderaghi sold 1,000 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $201.36, for a total value of $201,360.00. Following the sale, the insider directly owned 101,319 shares of the company's stock, valued at $20,401,593.84. This represents a 0.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,818 shares of company stock worth $13,171,258. 2.10% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On SiTime
A number of hedge funds and other institutional investors have recently bought and sold shares of SITM. Fourth Dimension Wealth LLC acquired a new stake in shares of SiTime in the 4th quarter valued at $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of SiTime in the 1st quarter valued at $32,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of SiTime in the 4th quarter valued at $58,000. Advisors Asset Management Inc. increased its stake in shares of SiTime by 33.6% in the 1st quarter. Advisors Asset Management Inc. now owns 350 shares of the company's stock valued at $54,000 after buying an additional 88 shares during the period. Finally, Lazard Asset Management LLC acquired a new stake in shares of SiTime in the 4th quarter valued at $81,000. 84.31% of the stock is owned by institutional investors and hedge funds.
About SiTime
(
Get Free Report)
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.
Further Reading
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