SiTime (NASDAQ:SITM) Trading 3.3% Higher

SiTime Co. (NASDAQ:SITM) shares traded up 3.3% during mid-day trading on Thursday . The stock traded as high as $175.60 and last traded at $175.21. 44,876 shares were traded during trading, a decline of 79% from the average session volume of 209,102 shares. The stock had previously closed at $169.62.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Barclays lowered SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 price objective on the stock. in a research note on Tuesday, August 27th. Needham & Company LLC reiterated a “buy” rating and issued a $130.00 price objective on shares of SiTime in a research note on Tuesday, June 25th. Finally, Stifel Nicolaus upped their price objective on SiTime from $150.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, July 18th.

SiTime Trading Up 3.4 %

The firm has a market capitalization of $4.01 billion, a price-to-earnings ratio of -41.07 and a beta of 1.82. The firm has a fifty day moving average price of $143.05 and a 200 day moving average price of $123.39.

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

Insiders Place Their Bets

In other SiTime news, insider Lionel Bonnot sold 3,203 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $140.26, for a total transaction of $449,252.78. Following the transaction, the insider now owns 86,838 shares of the company’s stock, valued at approximately $12,179,897.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Piyush B. Sevalia sold 6,331 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $140.20, for a total value of $887,606.20. Following the transaction, the executive vice president now owns 83,293 shares of the company’s stock, valued at approximately $11,677,678.60. The transaction was disclosed in a document filed with the SEC, which is accessible through 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 completion of the transaction, the insider now directly owns 86,838 shares in the company, valued at approximately $12,179,897.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,246 shares of company stock valued at $7,441,590. 2.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC lifted its stake in shares of SiTime by 59.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock valued at $29,000 after purchasing an additional 88 shares during the period. American International Group Inc. increased its position in shares of SiTime by 1.2% in the 1st quarter. American International Group Inc. now owns 9,566 shares of the company’s stock valued at $892,000 after buying an additional 110 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of SiTime by 35.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 689 shares of the company’s stock valued at $84,000 after buying an additional 180 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of SiTime by 2.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 8,900 shares of the company’s stock valued at $1,107,000 after buying an additional 200 shares in the last quarter. Finally, Pineridge Advisors LLC bought a new stake in shares of SiTime in the 4th quarter valued at $25,000. Institutional investors and hedge funds 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.