SiTime (NASDAQ:SITM) Stock Price Expected to Rise, Roth Mkm Analyst Says

by · The Markets Daily

SiTime (NASDAQ:SITM – Get Free Report) had its price objective upped by investment analysts at Roth Mkm from $205.00 to $230.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Roth Mkm’s target price would suggest a potential upside of 9.28% from the stock’s current price.

Several other research analysts have also weighed in on SITM. Barclays lowered shares of SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 price objective on the stock. in a research note on Tuesday, August 27th. Needham & Company LLC increased their price objective 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 target price on SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 17th.

View Our Latest Stock Report on SiTime

SiTime Trading Up 11.0 %

Shares of SiTime stock traded up $20.94 on Thursday, reaching $210.46. 138,410 shares of the company were exchanged, compared to its average volume of 202,989. SiTime has a fifty-two week low of $72.39 and a fifty-two week high of $210.46. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of -52.27 and a beta of 1.83. The stock has a fifty day moving average price of $165.97 and a 200-day moving average price of $139.66.

SiTime (NASDAQ:SITM – Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.08. SiTime had a negative return on equity of 10.53% and a negative net margin of 60.46%. The firm had revenue of $43.90 million for the quarter, compared to analyst estimates of $41.01 million. During the same period in the previous year, the firm earned ($1.17) earnings per share. SiTime’s quarterly revenue was up 58.5% on a year-over-year basis. On average, equities analysts anticipate that SiTime will post -3.03 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Lionel Bonnot sold 3,230 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $140.55, for a total value of $453,976.50. Following the completion of the transaction, the insider now owns 87,525 shares in the company, valued at $12,301,638.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other SiTime news, insider Fariborz Assaderaghi sold 1,083 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $139.05, for a total transaction of $150,591.15. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Lionel Bonnot sold 3,230 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $140.55, for a total transaction of $453,976.50. Following the completion of the sale, the insider now owns 87,525 shares of the company’s stock, valued at approximately $12,301,638.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,464 shares of company stock worth $5,372,893. Corporate insiders own 2.30% of the company’s stock.

Institutional Trading of SiTime

A number of large investors have recently made changes to their positions in SITM. Driehaus Capital Management LLC bought a new stake in shares of SiTime in the 2nd quarter valued at $16,831,000. Vanguard Group Inc. boosted its position in shares of SiTime by 4.1% during the first quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock worth $205,412,000 after buying an additional 85,800 shares during the period. William Blair Investment Management LLC boosted its position in shares of SiTime by 62.0% during the second quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock worth $25,883,000 after buying an additional 79,648 shares during the period. F M Investments LLC bought a new stake in SiTime during the second quarter worth about $8,909,000. Finally, Principal Financial Group Inc. raised 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 worth $76,996,000 after acquiring an additional 59,931 shares in the last quarter. Institutional investors own 84.31% of the company’s stock.

SiTime Company Profile

(Get Free Report)

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.

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