SiTime (NASDAQ:SITM) Given New $200.00 Price Target at Stifel Nicolaus

SiTime (NASDAQ:SITM) had its target price upped by analysts at Stifel Nicolaus from $175.00 to $200.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 15.27% from the company’s current price.

A number of other equities analysts also recently weighed in on SITM. Barclays cut shares of SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 price target for the company. in a report on Tuesday, August 27th. Needham & Company LLC reissued a “buy” rating and set a $130.00 target price on shares of SiTime in a research note on Tuesday, June 25th.

SiTime Price Performance

NASDAQ SITM traded up $1.16 on Thursday, hitting $173.50. 48,010 shares of the stock were exchanged, compared to its average volume of 206,170. The company’s 50-day moving average price is $153.23 and its two-hundred day moving average price is $129.61. SiTime has a 52-week low of $72.39 and a 52-week high of $188.98. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of -42.13 and a beta of 1.82.

SiTime (NASDAQ:SITM) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.08. The business had revenue of $43.90 million for the quarter, compared to the consensus estimate of $41.01 million. SiTime had a negative return on equity of 10.53% and a negative net margin of 60.46%. SiTime’s revenue for the quarter was up 58.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.17) earnings per share. Equities analysts predict that SiTime will post -3.03 EPS for the current fiscal year.

Insider Transactions at SiTime

In other news, insider Fariborz Assaderaghi sold 1,083 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $143.31, for a total transaction of $155,204.73. Following the transaction, the insider now owns 103,103 shares of the company’s stock, valued at approximately $14,775,690.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Fariborz Assaderaghi sold 1,083 shares of SiTime stock in a transaction on Monday, July 29th. The shares were sold at an average price of $143.31, for a total value of $155,204.73. Following the transaction, the insider now owns 103,103 shares in the company, valued at $14,775,690.93. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Samsheer Ahamad sold 4,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $131.00, for a total transaction of $524,000.00. Following the sale, the insider now owns 78,856 shares of the company’s stock, valued at $10,330,136. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,547 shares of company stock worth $5,361,178 in the last 90 days. 2.30% of the stock is owned by insiders.

Institutional Investors Weigh In On SiTime

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of SiTime by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock worth $205,412,000 after acquiring an additional 85,800 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of SiTime by 15.2% during the 2nd quarter. Principal Financial Group Inc. now owns 388,999 shares of the company’s stock worth $48,384,000 after acquiring an additional 51,407 shares during the period. William Blair Investment Management LLC boosted its position in shares of SiTime by 62.0% during the 2nd quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock valued at $25,883,000 after acquiring an additional 79,648 shares in the last quarter. Jennison Associates LLC increased its stake in SiTime by 0.9% in the first quarter. Jennison Associates LLC now owns 175,272 shares of the company’s stock valued at $16,341,000 after acquiring an additional 1,502 shares during the period. Finally, Driehaus Capital Management LLC acquired a new position in SiTime in the second quarter worth about $16,831,000. 84.31% of the stock is owned by institutional investors and hedge funds.

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.