SiTime (NASDAQ:SITM) Stock Price Down 3%

SiTime Co. (NASDAQ:SITM)’s stock price traded down 3% on Monday . The company traded as low as $120.00 and last traded at $120.67. 11,932 shares changed hands during trading, a decline of 94% from the average session volume of 204,533 shares. The stock had previously closed at $124.38.

Analysts Set New Price Targets

Separately, Needham & Company LLC reissued a “buy” rating and set a $130.00 target price on shares of SiTime in a research report on Tuesday, June 25th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, SiTime presently has a consensus rating of “Moderate Buy” and an average price target of $140.00.

SiTime Trading Up 4.7 %

The firm’s 50-day moving average price is $116.31 and its 200 day moving average price is $107.90.

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

Insider Buying and Selling

In related news, insider Fariborz Assaderaghi sold 1,288 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $84.25, for a total value of $108,514.00. Following the transaction, the insider now directly owns 110,203 shares in the company, valued at approximately $9,284,602.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other SiTime news, insider Vincent P. Pangrazio sold 3,465 shares of SiTime stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $126.65, for a total transaction of $438,842.25. Following the transaction, the insider now directly owns 73,099 shares of the company’s stock, valued at approximately $9,257,988.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Fariborz Assaderaghi sold 1,288 shares of SiTime stock in a transaction on 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 in the company, valued at $9,284,602.75. The disclosure for this sale can be found here. Insiders have sold a total of 39,151 shares of company stock worth $4,845,692 in the last ninety days. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On SiTime

Hedge funds have recently bought and sold shares of the company. Jennison Associates LLC boosted its holdings in SiTime by 19.8% during the 4th quarter. Jennison Associates LLC now owns 173,770 shares of the company’s stock worth $21,214,000 after acquiring an additional 28,739 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of SiTime by 16.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 246,637 shares of the company’s stock worth $30,112,000 after buying an additional 35,491 shares during the last quarter. Norges Bank purchased a new position in shares of SiTime in the 4th quarter worth about $12,662,000. Vanguard Group Inc. boosted its holdings in shares of SiTime by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,066,610 shares of the company’s stock worth $236,110,000 after buying an additional 58,629 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in SiTime by 12,108.0% in the 4th quarter. International Assets Investment Management LLC now owns 12,208 shares of the company’s stock valued at $1,490,000 after acquiring an additional 12,108 shares during the period. 84.31% of the stock is owned by hedge funds and other 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.