SiTime (NASDAQ:SITM) Price Target Lowered to $180.00 at Stifel Nicolaus

SiTime (NASDAQ:SITM) had its price target reduced by Stifel Nicolaus from $270.00 to $180.00 in a research note published on Thursday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

A number of other brokerages also recently weighed in on SITM. Barclays raised their price objective on SiTime from $130.00 to $160.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. Raymond James restated an “outperform” rating and issued a $250.00 price target (up from $215.00) on shares of SiTime in a report on Thursday, February 6th. Finally, Needham & Company LLC boosted their price objective on shares of SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $214.00.

SiTime Trading Down 0.2 %

Shares of NASDAQ SITM opened at $129.47 on Thursday. SiTime has a 12-month low of $72.39 and a 12-month high of $268.18. The stock’s fifty day simple moving average is $158.86 and its two-hundred day simple moving average is $192.16. The stock has a market capitalization of $3.06 billion, a PE ratio of -31.97 and a beta of 1.98.

Insiders Place Their Bets

In other news, insider Fariborz Assaderaghi sold 1,003 shares of SiTime stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $204.42, for a total transaction of $205,033.26. Following the completion of the sale, the insider now directly owns 99,678 shares in the company, valued at approximately $20,376,176.76. The trade was a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Piyush B. Sevalia sold 1,038 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $157.64, for a total transaction of $163,630.32. Following the sale, the insider now directly owns 92,847 shares in the company, valued at $14,636,401.08. This trade represents a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,542 shares of company stock valued at $978,713. 2.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Barclays PLC increased its holdings in SiTime by 80.7% in the 3rd quarter. Barclays PLC now owns 37,982 shares of the company’s stock worth $6,515,000 after buying an additional 16,964 shares during the period. Smartleaf Asset Management LLC lifted its position in SiTime by 278.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company’s stock valued at $60,000 after purchasing an additional 206 shares during the period. Baader Bank Aktiengesellschaft purchased a new stake in SiTime in the fourth quarter valued at $538,000. Proficio Capital Partners LLC acquired a new stake in SiTime during the 4th quarter worth about $4,418,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of SiTime during the 3rd quarter valued at about $166,000. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

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.