SiTime (NASDAQ:SITM) Price Target Cut to $210.00

SiTime (NASDAQ:SITMGet Rating) had its price objective decreased by equities research analysts at Needham & Company LLC from $225.00 to $210.00 in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 49.94% from the company’s previous close.

Several other research firms have also recently weighed in on SITM. TheStreet downgraded SiTime from a “c-” rating to a “d” rating in a report on Wednesday, April 27th. Raymond James dropped their target price on SiTime from $320.00 to $240.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Barclays decreased their price objective on SiTime from $230.00 to $195.00 and set an “overweight” rating for the company in a research note on Thursday. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $246.00.

SiTime Trading Up 2.7 %

Shares of SiTime stock opened at $140.06 on Thursday. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of 58.36, a P/E/G ratio of 5.46 and a beta of 1.61. SiTime has a 1-year low of $129.44 and a 1-year high of $341.77. The firm’s 50-day moving average price is $176.68 and its two-hundred day moving average price is $192.16.

SiTime (NASDAQ:SITMGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.09). SiTime had a return on equity of 9.22% and a net margin of 18.31%. The firm had revenue of $70.25 million for the quarter, compared to the consensus estimate of $65.00 million. During the same period in the prior year, the company posted ($0.20) earnings per share. SiTime’s quarterly revenue was up 97.7% compared to the same quarter last year. As a group, equities research analysts predict that SiTime will post 1.66 EPS for the current year.

Insiders Place Their Bets

In other SiTime news, EVP Piyush B. Sevalia sold 772 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $190.00, for a total value of $146,680.00. Following the completion of the sale, the executive vice president now directly owns 111,239 shares of the company’s stock, valued at approximately $21,135,410. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Vincent P. Pangrazio sold 500 shares of the stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $225.00, for a total transaction of $112,500.00. Following the completion of the sale, the insider now directly owns 92,629 shares in the company, valued at approximately $20,841,525. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Piyush B. Sevalia sold 772 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $190.00, for a total value of $146,680.00. Following the sale, the executive vice president now owns 111,239 shares of the company’s stock, valued at $21,135,410. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,924 shares of company stock worth $4,132,098. Corporate insiders own 1.16% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC bought a new position in shares of SiTime in the 4th quarter worth approximately $917,000. Yousif Capital Management LLC bought a new position in SiTime during the 4th quarter valued at approximately $2,338,000. Dupont Capital Management Corp bought a new position in SiTime during the 4th quarter valued at approximately $143,000. Xponance Inc. bought a new position in SiTime during the 4th quarter valued at approximately $660,000. Finally, Oregon Public Employees Retirement Fund bought a new position in SiTime during the 4th quarter valued at approximately $1,434,000. Institutional investors own 62.79% of the company’s stock.

SiTime Company Profile

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SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. Its solutions have applications in various markets, including communications and enterprise, automotive, industrial, Internet of Things, mobile, consumer, and aerospace and defense.

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