SiTime (NASDAQ:SITM) Stock Price Down 17.9% – Here’s Why

SiTime Co. (NASDAQ:SITM) was down 17.9% on Monday . The stock traded as low as $213.20 and last traded at $203.21. Approximately 90,759 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 153,489 shares. The stock had previously closed at $247.61.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SITM. Barclays boosted their target price on SiTime from $130.00 to $160.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Needham & Company LLC upped their price objective on shares of SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Stifel Nicolaus raised their target price on shares of SiTime from $230.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Roth Mkm increased their price target on shares of SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th.

SiTime Stock Down 22.5 %

The firm has a market cap of $4.48 billion, a P/E ratio of -46.44 and a beta of 1.82. The business has a fifty day simple moving average of $229.39 and a 200-day simple moving average of $183.91.

SiTime (NASDAQ:SITM) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.14. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.89%. The company had revenue of $57.70 million during the quarter, compared to analyst estimates of $55.10 million. During the same period last year, the business earned ($0.81) EPS. SiTime’s quarterly revenue was up 62.4% compared to the same quarter last year. On average, sell-side analysts anticipate that SiTime Co. will post -2.98 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Fariborz Assaderaghi sold 363 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $216.25, for a total transaction of $78,498.75. Following the transaction, the insider now directly owns 104,322 shares of the company’s stock, valued at $22,559,632.50. This represents a 0.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Vincent P. Pangrazio sold 3,064 shares of SiTime stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $255.00, for a total value of $781,320.00. Following the completion of the sale, the insider now owns 65,978 shares of the company’s stock, valued at $16,824,390. The trade was a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,931 shares of company stock worth $7,017,644 in the last 90 days. Insiders own 2.30% of the company’s stock.

Institutional Trading of SiTime

Institutional investors have recently made changes to their positions in the stock. Baader Bank Aktiengesellschaft bought a new position in SiTime during the fourth quarter valued at approximately $538,000. KBC Group NV raised its stake in SiTime by 3.0% during the 4th quarter. KBC Group NV now owns 6,402 shares of the company’s stock valued at $1,373,000 after buying an additional 184 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of SiTime by 118.0% during the 4th quarter. Blue Trust Inc. now owns 327 shares of the company’s stock valued at $70,000 after buying an additional 177 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of SiTime by 601.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,318 shares of the company’s stock worth $283,000 after buying an additional 1,130 shares during the last quarter. Finally, Crossmark Global Holdings Inc. grew its holdings in shares of SiTime by 39.0% in the fourth quarter. Crossmark Global Holdings Inc. now owns 1,915 shares of the company’s stock worth $411,000 after acquiring an additional 537 shares during the period. Hedge funds and other institutional investors 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.