Stifel Nicolaus Issues Pessimistic Forecast for SiTime (NASDAQ:SITM) Stock Price

SiTime (NASDAQ:SITM) had its target price lowered by research analysts at Stifel Nicolaus from $270.00 to $180.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price target indicates a potential upside of 39.03% from the company’s current price.

Several other research analysts also recently commented on the company. Needham & Company LLC raised their target price on SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Raymond James reaffirmed an “outperform” rating and set a $250.00 price objective (up previously from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Finally, Barclays increased their target price on shares of SiTime from $130.00 to $160.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, SiTime presently has a consensus rating of “Moderate Buy” and an average target price of $214.00.

SiTime Price Performance

NASDAQ:SITM opened at $129.47 on Thursday. The company has a market cap of $3.06 billion, a P/E ratio of -31.97 and a beta of 1.98. SiTime has a 1 year low of $72.39 and a 1 year high of $268.18. The stock’s fifty day moving average price is $158.11 and its two-hundred day moving average price is $191.89.

Insider Activity at SiTime

In other news, insider Piyush B. Sevalia sold 1,038 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $157.64, for a total transaction of $163,630.32. Following the transaction, the insider now directly owns 92,847 shares in the company, valued at approximately $14,636,401.08. This represents a 1.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Fariborz Assaderaghi sold 1,003 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 99,678 shares in the company, valued at $20,376,176.76. The trade was a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,542 shares of company stock valued at $978,713 over the last three months. 2.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SiTime

A number of large investors have recently bought and sold shares of the stock. Fourth Dimension Wealth LLC purchased a new position in shares of SiTime in the fourth quarter worth $25,000. Opal Wealth Advisors LLC bought a new stake in SiTime in the 1st quarter worth $32,000. Blue Trust Inc. increased its position in shares of SiTime by 44.7% in the fourth quarter. Blue Trust Inc. now owns 217 shares of the company’s stock valued at $47,000 after acquiring an additional 67 shares during the period. Aster Capital Management DIFC Ltd bought a new position in shares of SiTime during the fourth quarter valued at about $58,000. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of SiTime by 278.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company’s stock worth $60,000 after purchasing an additional 206 shares during the period. 84.31% of the stock is 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.