SiTime (NASDAQ:SITM) Given New $130.00 Price Target at Barclays

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

A number of other brokerages also recently weighed in on SITM. Roth Mkm lifted their target price on shares of SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC lifted their price target on shares of SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Stifel Nicolaus lifted their price target on shares of SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 17th.

SiTime Stock Down 4.5 %

Shares of NASDAQ SITM opened at $215.26 on Friday. SiTime has a twelve month low of $72.39 and a twelve month high of $228.12. The firm has a fifty day simple moving average of $169.16 and a 200 day simple moving average of $142.24. The company has a market capitalization of $4.98 billion, a PE ratio of -52.00 and a beta of 1.83.

SiTime (NASDAQ:SITM) last announced its earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.14. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.89%. The business had revenue of $57.70 million during the quarter, compared to the consensus estimate of $55.10 million. During the same quarter last year, the firm earned ($0.81) earnings per share. SiTime’s quarterly revenue was up 62.4% on a year-over-year basis. As a group, equities analysts expect that SiTime will post -3.03 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Rajesh Vashist sold 20,000 shares of SiTime stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $170.07, for a total transaction of $3,401,400.00. Following the completion of the transaction, the chief executive officer now directly owns 424,417 shares in the company, valued at $72,180,599.19. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Rajesh Vashist sold 20,000 shares of SiTime stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $170.07, for a total transaction of $3,401,400.00. Following the completion of the transaction, the chief executive officer now directly owns 424,417 shares in the company, valued at $72,180,599.19. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Samsheer Ahamad sold 4,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was 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 in the company, valued at approximately $13,642,042.67. This trade 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 over the last three months. 2.30% of the stock is currently owned by insiders.

Institutional Trading of SiTime

A number of institutional investors and hedge funds have recently modified their holdings of SITM. Texas Permanent School Fund Corp increased its position in shares of SiTime by 2.4% during the first quarter. Texas Permanent School Fund Corp now owns 15,292 shares of the company’s stock valued at $1,426,000 after acquiring an additional 357 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of SiTime during the first quarter valued at approximately $925,000. Oppenheimer Asset Management Inc. increased its position in shares of SiTime by 17.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 4,829 shares of the company’s stock valued at $450,000 after acquiring an additional 733 shares during the last quarter. Swiss National Bank increased its position in shares of SiTime by 1.2% during the first quarter. Swiss National Bank now owns 33,200 shares of the company’s stock valued at $3,095,000 after acquiring an additional 400 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of SiTime during the first quarter valued at approximately $136,000. 84.31% of the stock is owned by hedge funds and other 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.