SiTime (NASDAQ:SITM) Sets New 1-Year High – What’s Next?

SiTime Co. (NASDAQ:SITM)’s share price hit a new 52-week high on Friday . The stock traded as high as $182.28 and last traded at $180.87, with a volume of 6232 shares traded. The stock had previously closed at $176.89.

Wall Street Analysts Forecast Growth

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

SiTime Stock Up 1.4 %

The stock has a market capitalization of $4.15 billion, a PE ratio of -43.44 and a beta of 1.82. The stock’s 50 day moving average price is $144.34 and its 200-day moving average price is $124.69.

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

Insider Activity at SiTime

In other SiTime news, EVP Piyush B. Sevalia sold 6,331 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $140.20, for a total value of $887,606.20. Following the completion of the transaction, the executive vice president now directly owns 83,293 shares in the company, valued at $11,677,678.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other SiTime news, EVP Piyush B. Sevalia sold 6,331 shares of SiTime stock in a transaction on Monday, July 8th. The shares were sold at an average price of $140.20, for a total value of $887,606.20. Following the sale, the executive vice president now directly owns 83,293 shares in the company, valued at approximately $11,677,678.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 transaction, the insider now directly owns 86,838 shares of the company’s stock, valued at $12,179,897.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,246 shares of company stock valued at $7,441,590. 2.30% of the stock is owned by company insiders.

Institutional Trading of SiTime

A number of large investors have recently added to or reduced their stakes in the company. Pineridge Advisors LLC bought a new position in shares of SiTime during the 4th quarter valued at approximately $25,000. Nisa Investment Advisors LLC grew its stake in shares of SiTime by 59.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock worth $29,000 after buying an additional 88 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of SiTime by 281.0% in the 2nd quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock worth $47,000 after buying an additional 281 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of SiTime during the 2nd quarter valued at about $49,000. Finally, PNC Financial Services Group Inc. raised 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 valued at $84,000 after buying an additional 180 shares in the last quarter. 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.