SiTime (NASDAQ:SITM) PT Lowered to $90.00 at Barclays

SiTime (NASDAQ:SITM) had its price target decreased by Barclays from $130.00 to $90.00 in a research note published on Thursday morning, Benzinga reports. Barclays currently has an equal weight rating on the stock.

A number of other equities analysts have also issued reports on SITM. Stifel Nicolaus raised their price target on SiTime from $150.00 to $175.00 and gave the stock a buy rating in a report on Thursday, July 18th. Needham & Company LLC reissued a buy rating and issued a $130.00 price objective on shares of SiTime in a research note on Tuesday, June 25th.

SiTime Stock Up 1.7 %

Shares of SiTime stock traded up $2.12 on Thursday, hitting $126.70. The stock had a trading volume of 291,160 shares, compared to its average volume of 218,890. The company’s 50 day moving average price is $131.90 and its 200 day moving average price is $111.79. SiTime has a 52-week low of $72.39 and a 52-week high of $165.11.

SiTime (NASDAQ:SITM) last announced its earnings results on Wednesday, May 8th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.17). The business had revenue of $33.02 million for the quarter, compared to analysts’ expectations of $32.02 million. SiTime had a negative return on equity of 11.29% and a negative net margin of 66.88%. Equities research analysts expect that SiTime will post -2.66 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Vincent P. Pangrazio sold 3,465 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $126.65, for a total transaction of $438,842.25. Following the transaction, the insider now directly owns 73,099 shares of the company’s stock, valued at approximately $9,257,988.35. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Vincent P. Pangrazio sold 3,465 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $126.65, for a total transaction of $438,842.25. Following the sale, the insider now owns 73,099 shares of the company’s stock, valued at approximately $9,257,988.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Piyush B. Sevalia sold 1,041 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $130.00, for a total value of $135,330.00. Following the completion of the transaction, the executive vice president now directly owns 91,693 shares of the company’s stock, valued at $11,920,090. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,096 shares of company stock worth $7,201,292. 2.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SiTime

Large investors have recently added to or reduced their stakes in the business. Jennison Associates LLC lifted its holdings in shares of SiTime by 19.8% in the fourth quarter. Jennison Associates LLC now owns 173,770 shares of the company’s stock valued at $21,214,000 after purchasing an additional 28,739 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of SiTime by 16.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 246,637 shares of the company’s stock worth $30,112,000 after acquiring an additional 35,491 shares during the last quarter. Norges Bank purchased a new position in shares of SiTime during the fourth quarter valued at approximately $12,662,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in SiTime by 73.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 29,500 shares of the company’s stock valued at $2,750,000 after purchasing an additional 12,500 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of SiTime by 12,108.0% in the fourth quarter. International Assets Investment Management LLC now owns 12,208 shares of the company’s stock worth $1,490,000 after acquiring an additional 12,108 shares during the last quarter. 84.31% of the stock is owned by institutional investors and hedge funds.

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.