SiTime (NASDAQ:SITM) Sets New 1-Year High at $171.01

Shares of SiTime Co. (NASDAQ:SITM) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $171.01 and last traded at $171.01, with a volume of 1371 shares traded. The stock had previously closed at $167.59.

Wall Street Analysts Forecast Growth

SITM has been the subject of a number of research reports. Stifel Nicolaus lifted their price target on SiTime from $150.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Barclays lowered SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 target price on the stock. in a research report on Tuesday, August 27th. Finally, Needham & Company LLC reissued a “buy” rating and set a $130.00 price target on shares of SiTime in a research report on Tuesday, June 25th.

SiTime Trading Up 0.3 %

The firm has a market cap of $4.03 billion, a price-to-earnings ratio of -42.62 and a beta of 1.82. The company has a fifty day moving average price of $141.40 and a 200-day moving average price of $120.90.

SiTime (NASDAQ:SITM) last posted its earnings results on Wednesday, August 7th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.08. SiTime had a negative net margin of 60.46% and a negative return on equity of 10.53%. The firm had revenue of $43.90 million during the quarter, compared to analyst estimates of $41.01 million. During the same period in the previous year, the firm earned ($1.17) EPS. The business’s quarterly revenue was up 58.5% on a year-over-year basis. As a group, research analysts forecast that SiTime Co. will post -3.03 earnings per share for the current fiscal year.

Insider Activity at SiTime

In other SiTime news, insider Lionel Bonnot sold 3,203 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $140.26, for a total transaction of $449,252.78. Following the transaction, the insider now owns 86,838 shares in the company, valued at $12,179,897.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Piyush B. Sevalia sold 807 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $160.00, for a total transaction of $129,120.00. Following the completion of the sale, the insider now owns 87,534 shares of the company’s stock, valued at $14,005,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lionel Bonnot sold 3,203 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $140.26, for a total transaction of $449,252.78. Following the completion of the transaction, the insider now directly owns 86,838 shares in the company, valued at $12,179,897.88. The disclosure for this sale can be found here. Insiders sold a total of 45,905 shares of company stock worth $7,035,124 in the last 90 days. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On SiTime

A number of hedge funds have recently made changes to their positions in SITM. Dimensional Fund Advisors LP increased its position in shares of SiTime by 16.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 246,637 shares of the company’s stock worth $30,112,000 after purchasing an additional 35,491 shares in the last quarter. Norges Bank acquired a new stake in SiTime during the 4th quarter worth $12,662,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of SiTime by 73.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 29,500 shares of the company’s stock worth $2,750,000 after buying an additional 12,500 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of SiTime by 31.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 18,404 shares of the company’s stock valued at $1,712,000 after buying an additional 4,410 shares during the last quarter. Finally, UniSuper Management Pty Ltd purchased a new position in shares of SiTime in the first quarter worth about $363,000. Institutional investors and hedge funds 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.