SiTime (NASDAQ:SITM) Shares Up 4.6%

SiTime Co. (NASDAQ:SITM)’s stock price traded up 4.6% during mid-day trading on Thursday . The stock traded as high as $79.73 and last traded at $79.72. 110,635 shares were traded during trading, a decline of 46% from the average session volume of 203,667 shares. The stock had previously closed at $76.22.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Barclays boosted their target price on shares of SiTime from $110.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 16th. Stifel Nicolaus boosted their target price on shares of SiTime from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, January 2nd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $142.00.

SiTime Trading Up 6.9 %

The firm’s fifty day moving average price is $89.00 and its 200 day moving average price is $105.50. The firm has a market capitalization of $2.03 billion, a PE ratio of -24.46 and a beta of 1.78.

SiTime (NASDAQ:SITM) last posted its quarterly earnings results on Tuesday, February 13th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.01). SiTime had a negative net margin of 55.93% and a negative return on equity of 10.21%. The company had revenue of $42.40 million for the quarter, compared to analysts’ expectations of $41.65 million. As a group, research analysts expect that SiTime Co. will post -2.3 EPS for the current year.

Insider Activity

In related news, insider Fariborz Assaderaghi sold 1,288 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $90.57, for a total value of $116,654.16. Following the completion of the sale, the insider now directly owns 111,491 shares in the company, valued at $10,097,739.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 3,340 shares of company stock worth $330,780 in the last ninety days. Corporate insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On SiTime

A number of large investors have recently bought and sold shares of the business. Yousif Capital Management LLC boosted its holdings in SiTime by 1.1% during the fourth quarter. Yousif Capital Management LLC now owns 8,554 shares of the company’s stock valued at $1,044,000 after acquiring an additional 95 shares during the period. Amalgamated Bank boosted its holdings in SiTime by 1.5% during the third quarter. Amalgamated Bank now owns 7,606 shares of the company’s stock valued at $869,000 after acquiring an additional 113 shares during the period. Arizona State Retirement System boosted its holdings in SiTime by 2.5% during the third quarter. Arizona State Retirement System now owns 4,687 shares of the company’s stock valued at $535,000 after acquiring an additional 115 shares during the period. Nemes Rush Group LLC boosted its holdings in SiTime by 26.9% during the fourth quarter. Nemes Rush Group LLC now owns 542 shares of the company’s stock valued at $66,000 after acquiring an additional 115 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its position in shares of SiTime by 2.9% during the third quarter. Oppenheimer Asset Management Inc. now owns 4,287 shares of the company’s stock valued at $490,000 after buying an additional 120 shares during the last quarter. 84.31% of the stock is currently owned by institutional investors.

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.