SiTime (NASDAQ:SITM) Trading Up 13.6% After Analyst Upgrade

Shares of SiTime Co. (NASDAQ:SITM) shot up 13.6% during mid-day trading on Thursday after Roth Mkm raised their price target on the stock from $205.00 to $230.00. Roth Mkm currently has a buy rating on the stock. SiTime traded as high as $216.96 and last traded at $215.35. 149,952 shares changed hands during mid-day trading, a decline of 26% from the average session volume of 202,913 shares. The stock had previously closed at $189.52.

Other research analysts also recently issued reports about the company. Needham & Company LLC boosted their price target on SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a report on Thursday. Barclays lowered 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. Finally, Stifel Nicolaus raised their price target on SiTime from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th.

Insiders Place Their Bets

In other news, insider Samsheer Ahamad sold 4,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $172.73, for a total transaction of $690,920.00. Following the completion of the sale, the insider now directly owns 78,979 shares of the company’s stock, valued at $13,642,042.67. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Samsheer Ahamad sold 4,000 shares of SiTime stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $172.73, for a total value of $690,920.00. Following the transaction, the insider now directly owns 78,979 shares of the company’s stock, valued at $13,642,042.67. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Fariborz Assaderaghi sold 1,083 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $139.05, for a total transaction of $150,591.15. Following the sale, the insider now directly owns 112,584 shares of the company’s stock, valued at approximately $15,654,805.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,464 shares of company stock valued at $5,372,893 over the last quarter. Company insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On SiTime

A number of hedge funds have recently made changes to their positions in the business. Signaturefd LLC raised its holdings in shares of SiTime by 67.4% during the 3rd quarter. Signaturefd LLC now owns 149 shares of the company’s stock valued at $26,000 after buying an additional 60 shares during the period. Nisa Investment Advisors LLC grew its position in SiTime by 59.5% in the second quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock valued at $29,000 after acquiring an additional 88 shares in the last quarter. Thrivent Financial for Lutherans grew its position in SiTime by 0.6% in the third quarter. Thrivent Financial for Lutherans now owns 14,714 shares of the company’s stock valued at $2,524,000 after acquiring an additional 94 shares in the last quarter. American International Group Inc. raised its stake in shares of SiTime by 1.2% during the first quarter. American International Group Inc. now owns 9,566 shares of the company’s stock valued at $892,000 after purchasing an additional 110 shares during the period. Finally, 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 worth $945,000 after purchasing an additional 122 shares in the last quarter. Hedge funds and other institutional investors own 84.31% of the company’s stock.

SiTime Stock Up 19.0 %

The firm’s 50 day moving average price is $167.54 and its two-hundred day moving average price is $140.26. The firm has a market capitalization of $5.22 billion, a PE ratio of -54.74 and a beta of 1.83.

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

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.