SiTime (NASDAQ:SITM) Trading Up 3.4%

Shares of SiTime Co. (NASDAQ:SITM) rose 3.4% during trading on Wednesday . The stock traded as high as $170.39 and last traded at $170.39. Approximately 21,838 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 209,871 shares. The stock had previously closed at $164.86.

Analyst Upgrades and Downgrades

SITM has been the topic of several recent research reports. Barclays downgraded shares of SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 price objective on the stock. in a report on Tuesday, August 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 price objective on shares of SiTime in a report on Tuesday, June 25th. Finally, Stifel Nicolaus upped their price objective on shares of SiTime from $150.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, July 18th.

SiTime Trading Up 0.6 %

The stock’s fifty day moving average is $140.67 and its 200-day moving average is $120.19.

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

Insider Buying and Selling at SiTime

In other SiTime news, insider Lionel Bonnot sold 3,203 shares of the 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 transaction, the insider now directly owns 86,838 shares of the company’s stock, valued at $12,179,897.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Piyush B. Sevalia sold 6,331 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $140.20, for a total value of $887,606.20. Following the completion of the sale, the executive vice president now directly owns 83,293 shares in the company, valued at $11,677,678.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Lionel Bonnot sold 3,203 shares of the 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 sale, the insider now owns 86,838 shares of the company’s stock, valued at $12,179,897.88. The disclosure for this sale can be found here. Insiders have sold a total of 45,905 shares of company stock valued at $7,035,124 over the last ninety days. Corporate insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On SiTime

Hedge funds have recently modified their holdings of the business. Algert Global LLC acquired a new stake in SiTime during the second quarter worth about $2,380,000. Driehaus Capital Management LLC acquired a new position in SiTime during the 2nd quarter worth approximately $16,831,000. The Manufacturers Life Insurance Company grew its holdings in SiTime by 9.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,200 shares of the company’s stock worth $1,269,000 after acquiring an additional 898 shares in the last quarter. Deerfield Management Company L.P. Series C acquired a new position in SiTime during the 2nd quarter worth approximately $819,000. Finally, Marshall Wace LLP grew its holdings in SiTime by 381.4% during the 2nd quarter. Marshall Wace LLP now owns 60,650 shares of the company’s stock worth $7,544,000 after acquiring an additional 48,051 shares in the last quarter. 84.31% of the stock is currently 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.