SiTime (NASDAQ:SITM) Reaches New 12-Month Low at $80.10

SiTime Co. (NASDAQ:SITM - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $80.10 and last traded at $80.98, with a volume of 82343 shares traded. The stock had previously closed at $86.02.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SITM. Barclays increased their target price on shares of SiTime from $110.00 to $130.00 and gave the stock an "equal weight" rating in a research report on Tuesday, January 16th. Stifel Nicolaus increased their price target on shares of SiTime from $135.00 to $150.00 and gave the stock a "buy" rating in a research report on Tuesday, January 2nd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $142.00.

SiTime Stock Performance

The firm has a market cap of $1.86 billion, a P/E ratio of -22.62 and a beta of 1.78. The company's 50 day moving average is $97.55 and its 200 day moving average is $108.37.

SiTime (NASDAQ:SITM - Get Free Report) last released its quarterly earnings results on Tuesday, February 13th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.01). SiTime had a negative net margin of 55.93% and a negative return on equity of 10.21%. The business had revenue of $42.40 million for the quarter, compared to the consensus estimate of $41.65 million. On average, equities research analysts anticipate that SiTime Co. will post -2.3 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Rajesh Vashist sold 1,000 shares of SiTime stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $125.00, for a total transaction of $125,000.00. Following the completion of the transaction, the chief executive officer now directly owns 428,655 shares in the company, valued at $53,581,875. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other SiTime news, CEO Rajesh Vashist sold 1,000 shares of the business's stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $125.00, for a total value of $125,000.00. Following the transaction, the chief executive officer now directly owns 428,655 shares in the company, valued at $53,581,875. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Fariborz Assaderaghi sold 1,026 shares of the company's stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $116.37, for a total transaction of $119,395.62. Following the sale, the insider now owns 94,056 shares in the company, valued at $10,945,296.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,340 shares of company stock worth $455,780. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SiTime

A number of institutional investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. grew its holdings in shares of SiTime by 87.8% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 6,084 shares of the company's stock valued at $1,508,000 after purchasing an additional 2,844 shares during the last quarter. US Bancorp DE lifted its position in SiTime by 94.4% during the 1st quarter. US Bancorp DE now owns 933 shares of the company's stock valued at $231,000 after acquiring an additional 453 shares during the period. Private Advisor Group LLC purchased a new position in SiTime during the 1st quarter valued at about $290,000. PNC Financial Services Group Inc. lifted its position in SiTime by 191.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,095 shares of the company's stock valued at $270,000 after acquiring an additional 719 shares during the period. Finally, Bank of Montreal Can lifted its position in SiTime by 2,115.2% during the 1st quarter. Bank of Montreal Can now owns 23,370 shares of the company's stock valued at $6,100,000 after acquiring an additional 22,315 shares during the period. 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.