Barclays Cuts SiTime (NASDAQ:SITM) Price Target to $110.00

SiTime (NASDAQ:SITM) had its target price decreased by Barclays from $180.00 to $110.00 in a research report released on Tuesday,Benzinga reports. Barclays currently has an underweight rating on the stock.

SITM has been the topic of several other research reports. Needham & Company LLC upped their price target on SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Stifel Nicolaus decreased their target price on shares of SiTime from $270.00 to $180.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Finally, Raymond James reiterated an “outperform” rating and set a $250.00 price target (up from $215.00) on shares of SiTime in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat.com, SiTime presently has a consensus rating of “Moderate Buy” and a consensus target price of $204.00.

SiTime Price Performance

Shares of NASDAQ SITM opened at $148.95 on Tuesday. The company has a market capitalization of $3.53 billion, a P/E ratio of -36.78 and a beta of 1.98. The company has a 50 day simple moving average of $155.14 and a 200-day simple moving average of $190.77. SiTime has a 1 year low of $75.74 and a 1 year high of $268.18.

Insider Transactions at SiTime

In other SiTime news, insider Fariborz Assaderaghi sold 1,003 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $204.42, for a total value of $205,033.26. Following the sale, the insider now owns 99,678 shares of the company’s stock, valued at $20,376,176.76. This trade represents a 1.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Lionel Bonnot sold 3,501 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $174.25, for a total value of $610,049.25. Following the transaction, the insider now directly owns 87,940 shares of the company’s stock, valued at approximately $15,323,545. This represents a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,542 shares of company stock valued at $978,713. 2.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SiTime

Large investors have recently bought and sold shares of the business. Barclays PLC increased its holdings in shares of SiTime by 80.7% in the 3rd quarter. Barclays PLC now owns 37,982 shares of the company’s stock valued at $6,515,000 after acquiring an additional 16,964 shares during the last quarter. Virtu Financial LLC acquired a new stake in SiTime during the third quarter worth approximately $204,000. Sanctuary Advisors LLC purchased a new stake in shares of SiTime during the 3rd quarter worth approximately $166,000. Principal Financial Group Inc. boosted its holdings in shares of SiTime by 15.4% in the 3rd quarter. Principal Financial Group Inc. now owns 448,930 shares of the company’s stock valued at $76,996,000 after buying an additional 59,931 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of SiTime by 27.1% in the 4th quarter. GAMMA Investing LLC now owns 944 shares of the company’s stock valued at $203,000 after buying an additional 201 shares during the last quarter. Hedge funds and other institutional investors own 84.31% of the company’s stock.

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.