SiTime (NASDAQ:SITM) Shares Up 5.6%

SiTime Co. (NASDAQ:SITM) rose 5.6% on Wednesday . The stock traded as high as $140.14 and last traded at $140.14. Approximately 74,189 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 211,084 shares. The stock had previously closed at $132.71.

Analyst Ratings Changes

SITM has been the subject of several research analyst reports. Stifel Nicolaus raised their price objective on SiTime from $150.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Barclays downgraded SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 price objective for the company. in a research note on Tuesday, August 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 price objective on shares of SiTime in a research note on Tuesday, June 25th.

SiTime Stock Up 3.5 %

The stock has a fifty day moving average price of $139.46 and a two-hundred day moving average price of $116.27. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of -35.09 and a beta of 1.82.

SiTime (NASDAQ:SITM) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.12 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $41.01 million. During the same period in the prior year, the business earned ($1.17) earnings per share. The business’s revenue was up 58.5% on a year-over-year basis. As a group, research analysts forecast that SiTime Co. will post -3.03 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Fariborz Assaderaghi sold 1,003 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $140.00, for a total transaction of $140,420.00. Following the transaction, the insider now directly owns 111,581 shares in the company, valued at $15,621,340. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other SiTime news, insider Lionel Bonnot sold 3,203 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $140.26, for a total transaction of $449,252.78. Following the completion of the sale, the insider now owns 86,838 shares of the company’s stock, valued at $12,179,897.88. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Fariborz Assaderaghi sold 1,003 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $140.00, for a total value of $140,420.00. Following the sale, the insider now directly owns 111,581 shares of the company’s stock, valued at approximately $15,621,340. The disclosure for this sale can be found here. Insiders have sold 30,181 shares of company stock worth $4,132,988 over the last three months. 2.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SiTime

Several institutional investors and hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its stake in SiTime by 7.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 142,439 shares of the company’s stock valued at $17,389,000 after buying an additional 9,694 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of SiTime by 16.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 246,637 shares of the company’s stock worth $30,112,000 after purchasing an additional 35,491 shares during the period. Principal Financial Group Inc. raised its position in shares of SiTime by 0.5% during the 4th quarter. Principal Financial Group Inc. now owns 359,929 shares of the company’s stock worth $43,940,000 after purchasing an additional 1,912 shares during the period. Quadrant Capital Group LLC grew its holdings 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 buying an additional 147 shares in the last quarter. Finally, Brown Advisory Inc. grew its holdings in SiTime by 125.1% in the 4th quarter. Brown Advisory Inc. now owns 155,947 shares of the company’s stock worth $19,038,000 after buying an additional 86,675 shares in the last quarter. Hedge funds and other institutional investors own 84.31% of the company’s stock.

About SiTime

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.