SiTime (NASDAQ:SITM) Receives Outperform Rating from Raymond James

Raymond James restated their outperform rating on shares of SiTime (NASDAQ:SITM) in a report issued on Thursday morning,Benzinga reports. Raymond James currently has a $250.00 target price on the stock, up from their prior target price of $215.00.

SITM has been the subject of a number of other research reports. Barclays upped their price target on SiTime from $130.00 to $160.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. Stifel Nicolaus lifted their target price on shares of SiTime from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday. Needham & Company LLC upped their target price on SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Roth Mkm lifted their price target on SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $232.00.

SiTime Stock Performance

SITM opened at $176.32 on Thursday. SiTime has a 1 year low of $72.39 and a 1 year high of $268.18. The stock’s 50 day simple moving average is $228.56 and its 200 day simple moving average is $186.46.

SiTime (NASDAQ:SITM) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.26 by $0.14. The firm had revenue of $57.70 million during the quarter, compared to the consensus estimate of $55.10 million. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.89%. The company’s quarterly revenue was up 62.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.81) earnings per share. Analysts expect that SiTime will post -2.98 EPS for the current fiscal year.

Insider Transactions at SiTime

In other news, CEO Rajesh Vashist sold 12,000 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $259.25, for a total value of $3,111,000.00. Following the completion of the transaction, the chief executive officer now owns 24,781 shares in the company, valued at $6,424,474.25. The trade was a 32.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Fariborz Assaderaghi sold 1,003 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $204.42, for a total transaction of $205,033.26. Following the transaction, the insider now owns 99,678 shares in the company, 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 three months, insiders have sold 20,934 shares of company stock valued at $5,206,598. Insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On SiTime

A number of large investors have recently made changes to their positions in SITM. FMR LLC raised its position in SiTime by 1.1% in the third quarter. FMR LLC now owns 3,469,843 shares of the company’s stock worth $595,113,000 after acquiring an additional 39,119 shares during the period. State Street Corp lifted its position in SiTime by 3.1% during the third quarter. State Street Corp now owns 922,974 shares of the company’s stock valued at $158,299,000 after purchasing an additional 27,692 shares in the last quarter. Principal Financial Group Inc. grew its holdings in SiTime by 15.4% during the third quarter. Principal Financial Group Inc. now owns 448,930 shares of the company’s stock valued at $76,996,000 after purchasing an additional 59,931 shares during the period. Geode Capital Management LLC increased its position in SiTime by 3.7% in the third quarter. Geode Capital Management LLC now owns 440,922 shares of the company’s stock worth $75,637,000 after buying an additional 15,759 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of SiTime by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 171,937 shares of the company’s stock worth $36,886,000 after buying an additional 6,117 shares during the period. 84.31% of the stock is currently owned by institutional investors.

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.