SiTime (NASDAQ:SITM) Sets New 1-Year High at $165.26

SiTime Co. (NASDAQ:SITM) shares reached a new 52-week high on Wednesday . The company traded as high as $165.26 and last traded at $164.29, with a volume of 117226 shares traded. The stock had previously closed at $153.47.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SITM shares. Needham & Company LLC reiterated a “buy” rating and set a $130.00 price target on shares of SiTime in a research note on Tuesday, June 25th. Stifel Nicolaus raised their target price on SiTime from $150.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Finally, Barclays cut SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 target price on the stock. in a research report on Tuesday, August 27th.

SiTime Trading Up 2.2 %

The firm has a market capitalization of $3.63 billion, a P/E ratio of -39.86 and a beta of 1.82. The stock’s 50-day simple moving average is $139.94 and its 200-day simple moving average is $117.76.

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

Insider Activity

In related 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 value of $131,703.63. Following the transaction, the insider now directly owns 104,186 shares of the company’s stock, valued at approximately $12,670,059.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Fariborz Assaderaghi sold 1,083 shares of SiTime stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $121.61, for a total value of $131,703.63. Following the sale, the insider now owns 104,186 shares of the company’s stock, valued at approximately $12,670,059.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lionel Bonnot sold 3,203 shares of the 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 transaction, the insider now directly owns 86,838 shares of the company’s stock, valued at $12,179,897.88. The disclosure for this sale can be found here. Insiders sold a total of 26,181 shares of company stock valued at $3,636,308 in the last ninety days. 2.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SiTime

Several institutional investors have recently added to or reduced their stakes in SITM. Vanguard Group Inc. raised its position in shares of SiTime by 4.1% in the first quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock valued at $205,412,000 after purchasing an additional 85,800 shares during the period. Wasatch Advisors LP raised its holdings in SiTime by 2.9% during the 4th quarter. Wasatch Advisors LP now owns 892,102 shares of the company’s stock valued at $108,908,000 after acquiring an additional 25,324 shares during the period. Principal Financial Group Inc. lifted its position in shares of SiTime by 15.2% during the second quarter. Principal Financial Group Inc. now owns 388,999 shares of the company’s stock worth $48,384,000 after acquiring an additional 51,407 shares in the last quarter. Dimensional Fund Advisors LP boosted 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 worth $30,112,000 after acquiring an additional 35,491 shares during the period. Finally, William Blair Investment Management LLC grew its position in shares of SiTime by 62.0% in the second quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock valued at $25,883,000 after purchasing an additional 79,648 shares in the last quarter. 84.31% of the stock is owned by hedge funds and other 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.