SiTime (NASDAQ:SITM) Trading Up 10.7% – Time to Buy?

SiTime Co. (NASDAQ:SITM)’s share price traded up 10.7% during trading on Wednesday . The company traded as high as $165.72 and last traded at $168.75. Approximately 66,954 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 214,764 shares. The stock had previously closed at $152.42.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Raymond James reissued an “outperform” rating and set a $250.00 target price (up previously from $215.00) on shares of SiTime in a research report on Thursday, February 6th. Barclays upped their price target on shares of SiTime from $130.00 to $160.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. Roth Mkm raised their target price on SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC boosted their price target on SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Finally, Stifel Nicolaus increased their target price on shares of SiTime from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat.com, SiTime currently has an average rating of “Moderate Buy” and a consensus price target of $232.00.

SiTime Stock Performance

The company’s 50 day simple moving average is $204.97 and its 200 day simple moving average is $191.67. The stock has a market cap of $4.19 billion, a PE ratio of -43.77 and a beta of 1.80.

Insider Buying and Selling

In other SiTime news, Director Raman Chitkara sold 500 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $265.00, for a total transaction of $132,500.00. Following the completion of the transaction, the director now directly owns 20,719 shares of the company’s stock, valued at approximately $5,490,535. This represents a 2.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Fariborz Assaderaghi sold 1,000 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $249.42, for a total value of $249,420.00. Following the completion of the sale, the insider now owns 101,683 shares in the company, valued at approximately $25,361,773.86. The trade was a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,070 shares of company stock worth $5,310,704. 2.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On SiTime

Large investors have recently added to or reduced their stakes in the company. Barclays PLC raised its position in shares of SiTime by 80.7% in the third quarter. Barclays PLC now owns 37,982 shares of the company’s stock valued at $6,515,000 after purchasing an additional 16,964 shares during the period. LMR Partners LLP raised its holdings in SiTime by 705.0% during the 3rd quarter. LMR Partners LLP now owns 80,500 shares of the company’s stock valued at $13,807,000 after acquiring an additional 70,500 shares during the period. Baader Bank Aktiengesellschaft purchased a new stake in shares of SiTime during the fourth quarter worth $538,000. FMR LLC boosted its holdings in shares of SiTime by 1.1% in the third quarter. FMR LLC now owns 3,469,843 shares of the company’s stock worth $595,113,000 after acquiring an additional 39,119 shares during the period. Finally, Sanctuary Advisors LLC purchased a new position in shares of SiTime in the third quarter valued at $166,000. 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.