SiTime (NASDAQ:SITM) Shares Up 5.6%

SiTime Co. (NASDAQ:SITMGet Free Report) shot up 5.6% during trading on Tuesday . The stock traded as high as $122.61 and last traded at $122.33. 87,495 shares were traded during mid-day trading, a decline of 57% from the average session volume of 205,357 shares. The stock had previously closed at $115.84.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reiterated a “buy” rating and issued a $130.00 price objective on shares of SiTime in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $140.00.

Get Our Latest Report on SiTime

SiTime Price Performance

The firm has a market capitalization of $2.80 billion, a PE ratio of -28.05 and a beta of 1.83. The firm has a 50-day simple moving average of $110.49 and a 200-day simple moving average of $107.69.

SiTime (NASDAQ:SITMGet Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.17). SiTime had a negative net margin of 66.88% and a negative return on equity of 11.29%. The company had revenue of $33.02 million for the quarter, compared to analysts’ expectations of $32.02 million. Equities analysts expect that SiTime Co. will post -2.66 earnings per share for the current year.

Insider Activity

In other news, insider Fariborz Assaderaghi sold 1,288 shares of SiTime stock in a transaction dated 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 of the company’s stock, valued at approximately $9,284,602.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Fariborz Assaderaghi sold 1,288 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $9,284,602.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Rajesh Vashist sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $125.44, for a total value of $2,508,800.00. Following the completion of the transaction, the chief executive officer now directly owns 455,367 shares in the company, valued at $57,121,236.48. The disclosure for this sale can be found here. Insiders have sold a total of 39,356 shares of company stock valued at $4,830,642 in the last ninety days. Corporate insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Pineridge Advisors LLC purchased a new position in SiTime in the 4th quarter worth approximately $25,000. Quadrant Capital Group LLC increased its stake in SiTime by 78.2% in the 4th quarter. Quadrant Capital Group LLC now owns 335 shares of the company’s stock worth $41,000 after acquiring an additional 147 shares during the last quarter. Nemes Rush Group LLC increased its stake in SiTime by 26.9% in the 4th quarter. Nemes Rush Group LLC now owns 542 shares of the company’s stock worth $66,000 after acquiring an additional 115 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in SiTime by 35.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 689 shares of the company’s stock worth $84,000 after acquiring an additional 180 shares during the last quarter. Finally, Assetmark Inc. increased its stake in SiTime by 24.4% in the 4th quarter. Assetmark Inc. now owns 781 shares of the company’s stock worth $95,000 after acquiring an additional 153 shares during the last quarter. 84.31% of the stock is owned by hedge funds and other institutional investors.

About SiTime

(Get Free Report)

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.

See Also

Receive News & Ratings for SiTime Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SiTime and related companies with MarketBeat.com's FREE daily email newsletter.