SiTime (NASDAQ:SITM) Trading 8.2% Higher

SiTime Co. (NASDAQ:SITM) shares traded up 8.2% during trading on Thursday . The stock traded as high as $170.40 and last traded at $169.68. 151,844 shares changed hands during mid-day trading, a decline of 28% from the average session volume of 210,234 shares. The stock had previously closed at $156.87.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SITM. Stifel Nicolaus boosted their price objective on SiTime from $150.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Barclays lowered shares of SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 price target for the company. in a report on Tuesday, August 27th. Finally, Needham & Company LLC restated a “buy” rating and set a $130.00 price objective on shares of SiTime in a research report on Tuesday, June 25th.

SiTime Trading Up 7.0 %

The business has a fifty day simple moving average of $140.02 and a 200 day simple moving average of $118.03.

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

Insider Buying and Selling at SiTime

In other news, insider Fariborz Assaderaghi sold 1,083 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $121.61, for a total value of $131,703.63. Following the completion of the sale, the insider now directly owns 104,186 shares in the company, valued at $12,670,059.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Fariborz Assaderaghi sold 1,083 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $121.61, for a total value of $131,703.63. Following the completion of the sale, the insider now directly owns 104,186 shares in the company, valued at $12,670,059.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lionel Bonnot sold 3,230 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $140.55, for a total value of $453,976.50. Following the completion of the sale, the insider now owns 87,525 shares of the company’s stock, valued at $12,301,638.75. The disclosure for this sale can be found here. Insiders sold 26,181 shares of company stock valued at $3,636,308 over the last quarter. 2.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Pineridge Advisors LLC purchased a new position in SiTime in the fourth quarter worth approximately $25,000. Nisa Investment Advisors LLC grew its position in SiTime by 59.5% in the second quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock worth $29,000 after acquiring an additional 88 shares during the period. Quadrant Capital Group LLC grew its position in SiTime by 78.2% in 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 period. GAMMA Investing LLC grew its position in SiTime by 281.0% in the second quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock worth $47,000 after acquiring an additional 281 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in SiTime in the second quarter worth approximately $49,000. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

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.