SiTime (NASDAQ:SITM) PT Lowered to $210.00 at Needham & Company LLC



SiTime (NASDAQ:SITM – Get Rating) had its target price reduced by Needham & Company LLC from $225.00 to $210.00 in a research report report published on Thursday morning, Marketbeat reports. They currently have a buy rating on the stock.

Several other analysts have also recently weighed in on the company. Raymond James reduced their price target on SiTime from $320.00 to $240.00 and set an outperform rating on the stock in a report on Thursday. TheStreet cut SiTime from a c- rating to ad rating in a report on Wednesday, April 27th. Finally, Barclays reduced their price target on SiTime from $230.00 to $195.00 and set an overweight rating on the stock in a report on Thursday. Five investment analysts have rated the stock with a buy rating, according to data from MarketBeat.com, SiTime has a consensus rating of Buy and a consensus price target of $246.00.

SiTime Stock Up 2.7%

SiTime stock opened at $140.06 on Thursday. SiTime has a 12-month low of $129.44 and a 12-month high of $341.77. The business’s 50-day moving average price is $176.68 and its two-hundred day moving average price is $191.99. The stock has a market cap of $2.95 billion, a PE ratio of 58.36, a P/E/G ratio of 5.46 and a beta of 1.61.

SiTime (NASDAQ:SITM – Get Rating) last released its earnings results on Wednesday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.09). The business had revenue of $70.25 million during the quarter, compared to the consensus estimate of $65.00 million. SiTime had a net margin of 18.31% and a return on equity of 9.22%. The business’s revenue was up 97.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.20) EPS. As a group, analysts expect that SiTime will post 1.66 earnings per share for the current year.

Insider Activity at SiTime

In related news, Director Edward H. Frank sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 18th. The stock was sold at an average price of $197.23, for a total value of $394,460.00. Following the sale, the director now directly owns 5,000 shares in the company, valued at $986,150. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Rajesh Vashist sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $179.15, for a total value of $895,750.00. Following the sale, the chief executive officer now directly owns 540,549 shares in the company, valued at $96,839,353.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward H. Frank sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $197.23, for a total value of $394,460.00. Following the completion of the transaction, the director now directly owns 5,000 shares in the company, valued at $986,150. The disclosure for this sale can be found here. Insiders have sold 20,924 shares of company stock worth $4,132,098 over the last ninety days. Insiders own 1.16% of the company’s stock.

Hedge Funds Weigh In On SiTime

Institutional investors have recently added to or reduced their stakes in the business. Guggenheim Capital LLC acquired a new position in SiTime in the fourth quarter valued at approximately $1,873,000. First Trust Advisors LP lifted its stake in SiTime by 18.0% in the fourth quarter. First Trust Advisors LP now owns 41,921 shares of the company’s stock valued at $12,264,000 after buying an additional 6,394 shares during the period. Mutual of America Capital Management LLC acquired a new position in SiTime in the fourth quarter valued at approximately $3,920,000. Charles Schwab Investment Management Inc. lifted its stake in SiTime by 21.3% in the fourth quarter. Charles Schwab Investment Management Inc. Now owns 108,099 shares of the company’s stock valued at $31,624,000 after buying an additional 18,952 during the period. Finally, Granite Investment Partners LLC lifted its stake in SiTime by 11.7% in the fourth quarter. Granite Investment Partners LLC now owns 38,814 shares of the company’s stock valued at $11,355,000 after buying an additional 4,077 shares during the period. 62.79% of the stock is owned by institutional investors and hedge funds.

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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