SiTime (NASDAQ:SITM) Hits New 1-Year Low at $76.69

SiTime Co. (NASDAQ:SITM - Get Free Report) shares reached a new 52-week low on Tuesday . The company traded as low as $76.69 and last traded at $77.44, with a volume of 4086 shares changing hands. The stock had previously closed at $78.51.

Analyst Upgrades and Downgrades

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

SiTime Price Performance

The firm has a market cap of $1.79 billion, a PE ratio of -21.67 and a beta of 1.78. The business's 50 day moving average price is $95.04 and its 200 day moving average price is $107.40.

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

Insider Activity at SiTime

In related news, CEO Rajesh Vashist sold 1,000 shares of the company's 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 sale, the chief executive officer now owns 428,655 shares of the company's stock, valued at approximately $53,581,875. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Rajesh Vashist sold 1,000 shares of the company's 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 sale, the chief executive officer now owns 428,655 shares of the company's stock, valued at approximately $53,581,875. The sale 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 dated 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 directly owns 94,056 shares of the company's stock, valued at approximately $10,945,296.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,340 shares of company stock valued at $455,780. Corporate insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On SiTime

Several institutional investors and hedge funds have recently bought and sold shares of SITM. Raymond James Financial Services Advisors Inc. boosted its holdings in SiTime by 87.8% in 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 boosted its holdings in SiTime by 94.4% in the 1st quarter. US Bancorp DE now owns 933 shares of the company's stock valued at $231,000 after purchasing an additional 453 shares during the last quarter. Private Advisor Group LLC acquired a new position in SiTime in the 1st quarter valued at about $290,000. PNC Financial Services Group Inc. boosted its holdings in SiTime by 191.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,095 shares of the company's stock valued at $270,000 after purchasing an additional 719 shares during the last quarter. Finally, Bank of Montreal Can lifted its holdings in shares of SiTime by 2,115.2% in the 1st quarter. Bank of Montreal Can now owns 23,370 shares of the company's stock worth $6,100,000 after acquiring an additional 22,315 shares during the last quarter. 84.31% of the stock is currently owned by institutional investors and hedge funds.

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.