SiTime (NASDAQ:SITM) Shares Up 5.6%

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

Analyst Ratings Changes

SITM has been the topic of a number of recent research 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 report on Thursday, July 18th. Barclays cut shares of SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 target price for the company. in a research report on Tuesday, August 27th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $130.00 price objective on shares of SiTime in a research report on Tuesday, June 25th.

SiTime Price Performance

The stock has a 50-day moving average of $138.92 and a 200 day moving average of $115.91.

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

Insiders Place Their Bets

In other news, insider Fariborz Assaderaghi sold 1,083 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $121.61, for a total transaction of $131,703.63. Following the completion of the sale, the insider now owns 104,186 shares of the company’s stock, valued at $12,670,059.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Fariborz Assaderaghi sold 1,083 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $121.61, for a total value of $131,703.63. Following the completion of the transaction, the insider now directly owns 104,186 shares of the company’s stock, valued at approximately $12,670,059.46. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Lionel Bonnot sold 3,203 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $140.26, for a total value of $449,252.78. Following the completion of the transaction, the insider now owns 86,838 shares in the company, valued at approximately $12,179,897.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,178 shares of company stock worth $6,501,368. Company insiders own 2.30% of the company’s stock.

Institutional Trading of SiTime

A number of hedge funds have recently bought and sold shares of SITM. International Assets Investment Management LLC increased its holdings in shares of SiTime by 12,108.0% in the fourth quarter. International Assets Investment Management LLC now owns 12,208 shares of the company’s stock valued at $1,490,000 after purchasing an additional 12,108 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of SiTime by 7.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 142,439 shares of the company’s stock worth $17,389,000 after acquiring an additional 9,694 shares during the period. Versor Investments LP purchased a new position in shares of SiTime during the 4th quarter worth $305,000. NBC Securities Inc. boosted its position in shares of SiTime by 11.2% during the 4th quarter. NBC Securities Inc. now owns 3,548 shares of the company’s stock valued at $433,000 after acquiring an additional 357 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of SiTime by 16.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 246,637 shares of the company’s stock valued at $30,112,000 after purchasing an additional 35,491 shares during the period. 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.