SiTime (NASDAQ:SITM) Trading 3.3% Higher

Shares of SiTime Co. (NASDAQ:SITM) traded up 3.3% during trading on Thursday . The company traded as high as $175.60 and last traded at $175.21. 44,876 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 209,102 shares. The stock had previously closed at $169.62.

Analyst Ratings Changes

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

SiTime Stock Up 3.4 %

The stock has a market capitalization of $4.01 billion, a price-to-earnings ratio of -41.07 and a beta of 1.82. The business has a 50-day simple moving average of $143.05 and a two-hundred day simple moving average of $123.39.

SiTime (NASDAQ:SITM) last announced its earnings results on Wednesday, August 7th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $41.01 million. During the same quarter last year, the business posted ($1.17) earnings per share. The company’s quarterly revenue was up 58.5% on a year-over-year basis. On average, analysts forecast that SiTime Co. will post -3.03 EPS for the current year.

Insider Buying and Selling

In other news, insider Fariborz Assaderaghi sold 1,003 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $165.13, for a total transaction of $165,625.39. Following the sale, the insider now directly owns 110,578 shares of the company’s stock, valued at $18,259,745.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Piyush B. Sevalia sold 1,338 shares of SiTime stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $180.00, for a total value of $240,840.00. Following the transaction, the insider now directly owns 86,196 shares in the company, valued at $15,515,280. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Fariborz Assaderaghi sold 1,003 shares of SiTime stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $165.13, for a total value of $165,625.39. Following the completion of the transaction, the insider now owns 110,578 shares in the company, valued at $18,259,745.14. The disclosure for this sale can be found here. Insiders have sold 48,246 shares of company stock worth $7,441,590 in the last ninety days. 2.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SiTime

A number of institutional investors have recently made changes to their positions in SITM. Pineridge Advisors LLC bought a new position in shares of SiTime in the fourth quarter worth about $25,000. Nisa Investment Advisors LLC increased its stake in shares of SiTime by 59.5% in the second quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock worth $29,000 after purchasing an additional 88 shares during the period. GAMMA Investing LLC increased its stake in shares of SiTime by 281.0% in the second quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock worth $47,000 after purchasing an additional 281 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of SiTime in the second quarter worth about $49,000. Finally, PNC Financial Services Group Inc. increased its stake in SiTime by 35.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 689 shares of the company’s stock valued at $84,000 after acquiring an additional 180 shares during the period. 84.31% of the stock is currently 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.