SiTime (NASDAQ:SITM) Reaches New 12-Month High at $165.26

SiTime Co. (NASDAQ:SITM) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $165.26 and last traded at $164.29, with a volume of 117226 shares trading hands. The stock had previously closed at $153.47.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Stifel Nicolaus raised their price target on SiTime from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 target price on shares of SiTime in a research report on Tuesday, June 25th. Finally, Barclays cut shares of SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 price target on the stock. in a research report on Tuesday, August 27th.

SiTime Trading Down 2.5 %

The firm has a 50 day moving average price of $140.28 and a 200-day moving average price of $118.38. The firm has a market capitalization of $3.79 billion, a P/E ratio of -40.66 and a beta of 1.82.

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

Insider Buying and Selling at SiTime

In other news, insider Fariborz Assaderaghi sold 1,083 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $121.61, for a total value of $131,703.63. Following the sale, the insider now directly owns 104,186 shares in the company, valued at $12,670,059.46. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Lionel Bonnot sold 3,203 shares of the business’s stock in a transaction on 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 sale, the insider now directly owns 86,838 shares of the company’s stock, valued at $12,179,897.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Fariborz Assaderaghi sold 1,083 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $121.61, for a total transaction of $131,703.63. Following the completion of the transaction, the insider now directly owns 104,186 shares in the company, valued at approximately $12,670,059.46. The disclosure for this sale can be found here. Insiders sold 46,988 shares of company stock worth $7,166,828 over the last 90 days. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On SiTime

Several large investors have recently added to or reduced their stakes in SITM. Nisa Investment Advisors LLC raised its stake in shares of SiTime by 59.5% during the second quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock valued at $29,000 after acquiring an additional 88 shares in the last quarter. American International Group Inc. raised its position in SiTime by 1.2% during the 1st quarter. American International Group Inc. now owns 9,566 shares of the company’s stock valued at $892,000 after purchasing an additional 110 shares in the last quarter. Quadrant Capital Group LLC raised its position in SiTime by 78.2% during the 4th quarter. Quadrant Capital Group LLC now owns 335 shares of the company’s stock valued at $41,000 after purchasing an additional 147 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of SiTime by 24.4% in the 4th quarter. Assetmark Inc. now owns 781 shares of the company’s stock worth $95,000 after buying an additional 153 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in shares of SiTime by 35.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 689 shares of the company’s stock worth $84,000 after buying an additional 180 shares in the last quarter. 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.