Needham & Company LLC Issues Positive Forecast for SiTime (NASDAQ:SITM) Stock Price

SiTime (NASDAQ:SITM) had its price objective hoisted by Needham & Company LLC from $225.00 to $250.00 in a report published on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also issued reports on SITM. Roth Mkm boosted their price target on SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Barclays upped their price objective on shares of SiTime from $130.00 to $160.00 and gave the stock an “underweight” rating in a report on Friday, January 17th. Finally, Stifel Nicolaus raised their target price on shares of SiTime from $230.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $232.00.

SiTime Stock Performance

Shares of SITM stock opened at $176.32 on Thursday. The business has a 50 day moving average of $228.56 and a two-hundred day moving average of $186.46. SiTime has a 52 week low of $72.39 and a 52 week high of $268.18.

SiTime (NASDAQ:SITM) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $55.10 million. During the same quarter last year, the company earned ($0.81) EPS. The company’s revenue for the quarter was up 62.4% compared to the same quarter last year. On average, research analysts forecast that SiTime will post -2.98 EPS for the current year.

Insider Activity at SiTime

In other news, Director Raman Chitkara sold 500 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $265.00, for a total value of $132,500.00. Following the completion of the sale, the director now directly owns 20,719 shares of the company’s stock, valued at $5,490,535. This represents a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Fariborz Assaderaghi sold 363 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $216.25, for a total transaction of $78,498.75. Following the transaction, the insider now directly owns 104,322 shares in the company, valued at $22,559,632.50. The trade was a 0.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,934 shares of company stock worth $5,206,598. 2.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SiTime

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC increased its stake in shares of SiTime by 67.4% in the third quarter. Signaturefd LLC now owns 149 shares of the company’s stock worth $26,000 after acquiring an additional 60 shares during the last quarter. Blue Trust Inc. increased its position in SiTime by 44.7% in the 4th quarter. Blue Trust Inc. now owns 217 shares of the company’s stock worth $47,000 after purchasing an additional 67 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of SiTime by 278.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 280 shares of the company’s stock worth $60,000 after purchasing an additional 206 shares in the last quarter. Van ECK Associates Corp acquired a new stake in shares of SiTime during the 3rd quarter valued at about $123,000. Finally, GAMMA Investing LLC grew its stake in shares of SiTime by 95.0% in the 3rd quarter. GAMMA Investing LLC now owns 743 shares of the company’s stock valued at $127,000 after buying an additional 362 shares in the last quarter. Hedge funds and other institutional investors own 84.31% of the company’s stock.

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.