Barclays Issues Positive Forecast for SiTime (NASDAQ:SITM) Stock Price

SiTime (NASDAQ:SITM) had its target price increased by Barclays from $90.00 to $130.00 in a research report released on Friday,Benzinga reports. The firm currently has an underweight rating on the stock.

A number of other analysts have also recently weighed in on SITM. Roth Mkm raised their price objective on SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday. Needham & Company LLC raised their price target on SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Stifel Nicolaus boosted their price target on SiTime from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th.

SiTime Price Performance

SiTime stock traded down $0.06 during trading hours on Friday, reaching $225.45. The stock had a trading volume of 337,459 shares, compared to its average volume of 205,572. The company has a market cap of $5.21 billion, a price-to-earnings ratio of -54.46 and a beta of 1.83. The business’s 50 day moving average price is $169.16 and its 200-day moving average price is $141.31. SiTime has a 52 week low of $72.39 and a 52 week high of $228.12.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.26 by $0.14. The firm had revenue of $57.70 million during the quarter, compared to analyst estimates of $55.10 million. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.88%. SiTime’s revenue was up 62.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.81) EPS. On average, sell-side analysts forecast that SiTime will post -3.03 EPS for the current fiscal year.

Insider Buying and Selling

In other SiTime news, insider Fariborz Assaderaghi sold 1,083 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $139.05, for a total transaction of $150,591.15. Following the sale, the insider now owns 112,584 shares in the company, valued at approximately $15,654,805.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Fariborz Assaderaghi sold 1,083 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $139.05, for a total value of $150,591.15. Following the sale, the insider now owns 112,584 shares in the company, valued at $15,654,805.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Samsheer Ahamad sold 4,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $172.73, for a total transaction of $690,920.00. Following the transaction, the insider now owns 78,979 shares of the company’s stock, valued at $13,642,042.67. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,464 shares of company stock worth $5,372,893 in the last 90 days. Insiders own 2.30% of the company’s stock.

Institutional Trading of SiTime

Several hedge funds and other institutional investors have recently bought and sold shares of SITM. Vanguard Group Inc. grew its position in shares of SiTime by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock valued at $205,412,000 after acquiring an additional 85,800 shares during the period. Principal Financial Group Inc. grew its holdings in SiTime by 15.4% in 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. William Blair Investment Management LLC increased its position in shares of SiTime by 62.0% in the second quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock valued at $25,883,000 after buying an additional 79,648 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in shares of SiTime during the 2nd quarter worth approximately $16,831,000. Finally, Grandeur Peak Global Advisors LLC lifted its position in shares of SiTime by 34.7% during the 1st quarter. Grandeur Peak Global Advisors LLC now owns 95,281 shares of the company’s stock valued at $8,883,000 after buying an additional 24,542 shares in the last quarter. 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.