SiTime (NASDAQ:SITM) Stock Price Down 3%

Shares of SiTime Co. (NASDAQ:SITM) fell 3% on Monday . The stock traded as low as $120.00 and last traded at $120.67. 11,932 shares were traded during mid-day trading, a decline of 94% from the average session volume of 204,533 shares. The stock had previously closed at $124.38.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reiterated a “buy” rating and issued a $130.00 target price on shares of SiTime in a report on Tuesday, June 25th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.00.

SiTime Price Performance

The company has a 50-day moving average price of $116.31 and a 200 day moving average price of $107.90.

SiTime (NASDAQ:SITM) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($1.04) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.17). The company had revenue of $33.02 million during the quarter, compared to the consensus estimate of $32.02 million. SiTime had a negative return on equity of 11.29% and a negative net margin of 66.88%. On average, research analysts anticipate that SiTime Co. will post -2.66 earnings per share for the current year.

Insider Activity at SiTime

In related news, insider Fariborz Assaderaghi sold 1,288 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $84.25, for a total transaction of $108,514.00. Following the transaction, the insider now directly owns 110,203 shares of the company’s stock, valued at approximately $9,284,602.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Fariborz Assaderaghi sold 1,288 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $84.25, for a total transaction of $108,514.00. Following the transaction, the insider now directly owns 110,203 shares of the company’s stock, valued at approximately $9,284,602.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Piyush B. Sevalia sold 1,768 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $115.42, for a total value of $204,062.56. Following the completion of the transaction, the executive vice president now directly owns 97,136 shares in the company, valued at $11,211,437.12. The disclosure for this sale can be found here. Insiders have sold 39,151 shares of company stock valued at $4,845,692 in the last ninety days. Corporate insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Yousif Capital Management LLC increased its holdings in shares of SiTime by 1.1% in the fourth quarter. Yousif Capital Management LLC now owns 8,554 shares of the company’s stock valued at $1,044,000 after purchasing an additional 95 shares during the period. American International Group Inc. boosted its stake in shares of SiTime by 1.2% in the first quarter. American International Group Inc. now owns 9,566 shares of the company’s stock worth $892,000 after buying an additional 110 shares during the last quarter. Nemes Rush Group LLC boosted its stake in shares of SiTime by 26.9% in the fourth quarter. Nemes Rush Group LLC now owns 542 shares of the company’s stock worth $66,000 after buying an additional 115 shares during the last quarter. Pursue Wealth Partners LLC boosted its stake in shares of SiTime by 0.6% in the fourth quarter. Pursue Wealth Partners LLC now owns 22,618 shares of the company’s stock worth $2,761,000 after buying an additional 139 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its position in SiTime by 78.2% during the fourth quarter. Quadrant Capital Group LLC now owns 335 shares of the company’s stock worth $41,000 after purchasing an additional 147 shares in the last quarter. 84.31% of the stock is owned by institutional investors and hedge funds.

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.