SiTime (NASDAQ:SITM) Trading 6.8% Higher – Still a Buy?

SiTime Corporation (NASDAQ:SITM) shares were up 6.8% on Tuesday . The stock traded as high as $300.62 and last traded at $306.6230. Approximately 55,857 shares were traded during trading, a decline of 83% from the average daily volume of 335,803 shares. The stock had previously closed at $287.11.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiTime in a research note on Wednesday, October 8th. Stifel Nicolaus set a $360.00 price target on shares of SiTime in a research report on Thursday, November 6th. Barclays boosted their target price on SiTime from $220.00 to $260.00 and gave the stock an “underweight” rating in a research note on Thursday, November 6th. Loop Capital assumed coverage on shares of SiTime in a report on Friday, November 21st. They issued a “buy” rating and a $350.00 price target for the company. Finally, UBS Group increased their price objective on SiTime from $355.00 to $375.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, SiTime has an average rating of “Moderate Buy” and a consensus target price of $332.14.

SiTime Trading Up 5.4%

The company has a market capitalization of $7.90 billion, a PE ratio of -102.49 and a beta of 2.55. The stock has a fifty day moving average of $289.90 and a two-hundred day moving average of $244.54.

SiTime (NASDAQ:SITM) last released its earnings results on Wednesday, November 5th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.71 by $0.16. SiTime had a negative return on equity of 5.69% and a negative net margin of 25.18%.The business had revenue of $83.57 million for the quarter, compared to the consensus estimate of $78.08 million. During the same period in the previous year, the company posted $0.40 earnings per share. The company’s revenue for the quarter was up 44.8% compared to the same quarter last year. Equities analysts forecast that SiTime Corporation will post -2.44 EPS for the current year.

Insider Transactions at SiTime

In other SiTime news, CEO Rajesh Vashist sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $329.00, for a total value of $3,290,000.00. Following the completion of the transaction, the chief executive officer directly owned 439,208 shares in the company, valued at $144,499,432. This represents a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Samsheer Ahamad sold 6,000 shares of the stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $250.00, for a total value of $1,500,000.00. Following the sale, the insider owned 61,888 shares of the company’s stock, valued at $15,472,000. This represents a 8.84% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 37,867 shares of company stock worth $10,806,893. Company insiders own 2.30% of the company’s stock.

Institutional Trading of SiTime

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. US Bancorp DE lifted its stake in shares of SiTime by 134.6% during the 1st quarter. US Bancorp DE now owns 1,654 shares of the company’s stock worth $253,000 after acquiring an additional 949 shares during the last quarter. Deutsche Bank AG lifted its position in shares of SiTime by 0.7% during the first quarter. Deutsche Bank AG now owns 51,157 shares of the company’s stock worth $7,820,000 after purchasing an additional 359 shares during the last quarter. Nuveen LLC purchased a new stake in shares of SiTime during the first quarter valued at $7,898,000. Public Sector Pension Investment Board grew its holdings in shares of SiTime by 28.7% in the first quarter. Public Sector Pension Investment Board now owns 60,612 shares of the company’s stock worth $9,266,000 after purchasing an additional 13,508 shares during the last quarter. Finally, Trillium Asset Management LLC lifted its holdings in SiTime by 51.4% during the 1st quarter. Trillium Asset Management LLC now owns 47,732 shares of the company’s stock valued at $7,296,000 after buying an additional 16,211 shares in the last quarter. Hedge funds and other institutional investors own 84.31% of the company’s stock.

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.