SiTime (NASDAQ:SITM) Trading Up 8.2%

Shares of SiTime Co. (NASDAQ:SITM) rose 8.2% on Thursday . The stock traded as high as $170.40 and last traded at $169.68. Approximately 151,844 shares changed hands during trading, a decline of 28% from the average daily volume of 210,234 shares. The stock had previously closed at $156.87.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Barclays lowered SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 price objective on the stock. in a research 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 increased their target price on shares of SiTime from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th.

SiTime Trading Down 2.6 %

The company has a fifty day moving average of $140.48 and a 200-day moving average of $118.86. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of -39.61 and a beta of 1.82.

SiTime (NASDAQ:SITM) last issued its earnings results on Wednesday, August 7th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.08. The company 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%. SiTime’s quarterly revenue was up 58.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.17) earnings per share. As a group, equities research analysts expect that SiTime Co. will post -3.03 EPS for the current year.

Insiders Place Their Bets

In other SiTime news, insider Fariborz Assaderaghi sold 1,083 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $121.61, for a total transaction of $131,703.63. Following the transaction, the insider now directly owns 104,186 shares in the company, valued at $12,670,059.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other SiTime news, CEO Rajesh Vashist sold 20,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $170.07, for a total transaction of $3,401,400.00. Following the sale, the chief executive officer now owns 424,417 shares in the company, valued at approximately $72,180,599.19. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Fariborz Assaderaghi sold 1,083 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $121.61, for a total transaction of $131,703.63. Following the completion of the sale, the insider now directly owns 104,186 shares in the company, valued at approximately $12,670,059.46. The disclosure for this sale can be found here. Insiders sold a total of 46,988 shares of company stock valued at $7,166,828 over the last 90 days. 2.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On SiTime

A number of institutional investors and hedge funds have recently modified their holdings of the company. Pineridge Advisors LLC purchased a new position in shares of SiTime in the 4th quarter valued at about $25,000. Nisa Investment Advisors LLC grew its holdings in shares of SiTime by 59.5% during 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 last quarter. Quadrant Capital Group LLC increased its position in shares of SiTime by 78.2% during the fourth quarter. Quadrant Capital Group LLC now owns 335 shares of the company’s stock worth $41,000 after purchasing an additional 147 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of SiTime by 281.0% in the 2nd quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock valued at $47,000 after purchasing an additional 281 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of SiTime during the second quarter worth approximately $49,000. Institutional investors and hedge funds own 84.31% of the company’s stock.

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.