SiTime (NASDAQ:SITM) Shares Up 4.6%

SiTime Co. (NASDAQ:SITM)’s stock price was up 4.6% during mid-day trading on Thursday . The stock traded as high as $79.73 and last traded at $79.72. Approximately 110,635 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 203,667 shares. The stock had previously closed at $76.22.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on SITM shares. Stifel Nicolaus raised their price target on SiTime from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, January 2nd. Barclays raised their price target on SiTime from $110.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 16th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $142.00.

SiTime Price Performance

The firm has a market cap of $1.90 billion, a PE ratio of -22.23 and a beta of 1.78. The business has a 50-day moving average price of $89.78 and a two-hundred day moving average price of $105.84.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Tuesday, February 13th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.01). The company had revenue of $42.40 million for the quarter, compared to analyst estimates of $41.65 million. SiTime had a negative net margin of 55.93% and a negative return on equity of 10.21%. Equities analysts expect that SiTime Co. will post -2.3 earnings per share for the current fiscal year.

Insider Activity at SiTime

In related news, insider Fariborz Assaderaghi sold 1,288 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $90.57, for a total transaction of $116,654.16. Following the sale, the insider now owns 111,491 shares of the company’s stock, valued at $10,097,739.87. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 3,340 shares of company stock valued at $330,780 over the last quarter. Insiders own 2.30% of the company’s stock.

Institutional Trading of SiTime

A number of hedge funds have recently added to or reduced their stakes in the business. FMR LLC boosted its stake in SiTime by 7.5% in the 3rd quarter. FMR LLC now owns 3,054,878 shares of the company’s stock worth $349,020,000 after buying an additional 212,615 shares during the last quarter. Vanguard Group Inc. boosted its stake in SiTime by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 2,117,486 shares of the company’s stock worth $258,503,000 after buying an additional 50,876 shares during the last quarter. Wasatch Advisors LP boosted its stake in SiTime by 2.9% in the 4th quarter. Wasatch Advisors LP now owns 892,102 shares of the company’s stock worth $108,908,000 after buying an additional 25,324 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in SiTime by 8.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 613,583 shares of the company’s stock worth $70,102,000 after buying an additional 46,672 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in SiTime by 0.5% in the 4th quarter. Principal Financial Group Inc. now owns 359,929 shares of the company’s stock worth $43,940,000 after buying an additional 1,912 shares during the last quarter. 84.31% of the stock is owned by institutional investors and hedge funds.

SiTime Company Profile

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.