SiTime (NASDAQ:SITM) Sees Large Volume Increase – Still a Buy?

SiTime Co. (NASDAQ:SITM) shares saw unusually-strong trading volume on Thursday . Approximately 310,875 shares were traded during mid-day trading, an increase of 43% from the previous session’s volume of 217,881 shares.The stock last traded at $203.58 and had previously closed at $182.19.

Wall Street Analysts Forecast Growth

SITM has been the subject of several recent analyst reports. Raymond James reiterated an “outperform” rating and set a $250.00 price objective (up from $215.00) on shares of SiTime in a research report on Thursday, February 6th. Barclays increased their price objective on shares of SiTime from $130.00 to $160.00 and gave the stock an “underweight” rating in a research report on Friday, January 17th. Needham & Company LLC increased their price objective on shares of SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Finally, Stifel Nicolaus increased their price objective on shares of SiTime from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, SiTime currently has an average rating of “Moderate Buy” and an average target price of $232.00.

SiTime Stock Down 1.8 %

The firm has a market capitalization of $4.13 billion, a P/E ratio of -43.17 and a beta of 1.85. The company’s 50 day moving average is $202.20 and its 200-day moving average is $191.74.

Insider Buying and Selling at SiTime

In other SiTime news, CEO Rajesh Vashist sold 12,000 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $259.25, for a total value of $3,111,000.00. Following the transaction, the chief executive officer now directly owns 24,781 shares of the company’s stock, valued at approximately $6,424,474.25. This trade represents a 32.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Fariborz Assaderaghi sold 1,000 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $249.42, for a total transaction of $249,420.00. Following the completion of the transaction, the insider now directly owns 101,683 shares in the company, valued at $25,361,773.86. This trade represents a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,108 shares of company stock valued at $5,474,335. Corporate insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SITM. Van ECK Associates Corp bought a new position in shares of SiTime during the third quarter valued at about $123,000. Amalgamated Bank lifted its position in shares of SiTime by 2.3% during the third quarter. Amalgamated Bank now owns 5,509 shares of the company’s stock valued at $945,000 after purchasing an additional 122 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of SiTime by 15.4% during the third quarter. Principal Financial Group Inc. now owns 448,930 shares of the company’s stock valued at $76,996,000 after purchasing an additional 59,931 shares in the last quarter. Atria Investments Inc bought a new position in shares of SiTime during the third quarter valued at about $228,000. Finally, Crossmark Global Holdings Inc. bought a new position in shares of SiTime during the third quarter valued at about $236,000. 84.31% of the stock is owned by institutional investors.

SiTime Company Profile

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.