SiTime (NASDAQ:SITM) Sees Unusually-High Trading Volume – What’s Next?

SiTime Co. (NASDAQ:SITM) saw an uptick in trading volume on Thursday . 365,579 shares traded hands during trading, an increase of 63% from the previous session’s volume of 224,118 shares.The stock last traded at $162.03 and had previously closed at $166.46.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SITM. Raymond James reissued an “outperform” rating and issued a $250.00 target price (up from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Needham & Company LLC lifted their price objective on SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Barclays upped their target price on SiTime from $130.00 to $160.00 and gave the company an “underweight” rating in a report on Friday, January 17th. Finally, Stifel Nicolaus lifted their price target on SiTime from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $232.00.

SiTime Price Performance

The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of -38.97 and a beta of 1.85. The business has a fifty day moving average of $198.77 and a 200 day moving average of $192.44.

Insider Activity

In related news, insider Fariborz Assaderaghi sold 1,002 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $220.94, for a total transaction of $221,381.88. Following the completion of the transaction, the insider now owns 100,681 shares of the company’s stock, valued at approximately $22,244,460.14. This trade represents a 0.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Lionel Bonnot sold 3,501 shares of SiTime stock in a transaction on Monday, February 24th. The shares were sold at an average price of $174.25, for a total value of $610,049.25. Following the completion of the sale, the insider now directly owns 87,940 shares of the company’s stock, valued at $15,323,545. The trade was a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,544 shares of company stock valued at $1,200,095 in the last quarter. Insiders own 2.30% of the company’s stock.

Institutional Trading of SiTime

Several hedge funds have recently made changes to their positions in SITM. Fourth Dimension Wealth LLC purchased a new stake in SiTime during the 4th quarter worth approximately $25,000. Blue Trust Inc. grew its stake in shares of SiTime by 44.7% in the fourth quarter. Blue Trust Inc. now owns 217 shares of the company’s stock worth $47,000 after acquiring an additional 67 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of SiTime during the fourth quarter worth $58,000. Smartleaf Asset Management LLC raised its stake in shares of SiTime by 278.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company’s stock valued at $60,000 after acquiring an additional 206 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of SiTime in the fourth quarter valued at $81,000. 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.