SiTime (NASDAQ:SITM) Trading Down 3%

SiTime Co. (NASDAQ:SITM)’s stock price fell 3% during trading on Monday . The stock traded as low as $120.00 and last traded at $120.67. 11,932 shares were traded during mid-day trading, a decline of 94% from the average session volume of 204,533 shares. The stock had previously closed at $124.38.

Analyst Ratings Changes

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 price target on shares of SiTime in a research note on Tuesday, June 25th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, SiTime has an average rating of “Moderate Buy” and an average target price of $140.00.

SiTime Trading Down 1.0 %

The stock has a market cap of $2.82 billion, a price-to-earnings ratio of -30.12 and a beta of 1.82. The stock has a fifty day simple moving average of $114.26 and a 200-day simple moving average of $107.93.

SiTime (NASDAQ:SITM) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.17). SiTime had a negative return on equity of 11.29% and a negative net margin of 66.88%. The firm had revenue of $33.02 million for the quarter, compared to analyst estimates of $32.02 million. Sell-side analysts forecast that SiTime Co. will post -2.66 earnings per share for the current fiscal year.

Insider Transactions at SiTime

In related news, insider Lionel Bonnot sold 781 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $117.08, for a total transaction of $91,439.48. Following the completion of the transaction, the insider now owns 98,299 shares in the company, valued at approximately $11,508,846.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other SiTime news, EVP Piyush B. Sevalia sold 827 shares of SiTime stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $130.00, for a total value of $107,510.00. Following the completion of the transaction, the executive vice president now owns 89,624 shares in the company, valued at approximately $11,651,120. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Lionel Bonnot sold 781 shares of SiTime stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $117.08, for a total value of $91,439.48. Following the completion of the transaction, the insider now owns 98,299 shares of the company’s stock, valued at approximately $11,508,846.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,151 shares of company stock valued at $4,845,692. 2.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SiTime

Several institutional investors have recently bought and sold shares of SITM. Yousif Capital Management LLC raised its position in shares of SiTime by 1.1% during the fourth quarter. Yousif Capital Management LLC now owns 8,554 shares of the company’s stock worth $1,044,000 after acquiring an additional 95 shares during the last quarter. American International Group Inc. raised its position in shares of SiTime by 1.2% during the first quarter. American International Group Inc. now owns 9,566 shares of the company’s stock worth $892,000 after acquiring an additional 110 shares during the last quarter. Nemes Rush Group LLC raised its position in shares of SiTime by 26.9% during the fourth quarter. Nemes Rush Group LLC now owns 542 shares of the company’s stock worth $66,000 after acquiring an additional 115 shares during the last quarter. Pursue Wealth Partners LLC raised its position in shares of SiTime by 0.6% during the fourth quarter. Pursue Wealth Partners LLC now owns 22,618 shares of the company’s stock worth $2,761,000 after acquiring an additional 139 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its position in shares of SiTime by 78.2% during the fourth quarter. Quadrant Capital Group LLC now owns 335 shares of the company’s stock worth $41,000 after acquiring an additional 147 shares during the last quarter. Institutional investors own 84.31% of the company’s stock.

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.