SiTime (NASDAQ:SITM) Shares Up 6%

Shares of SiTime Co. (NASDAQ:SITM - Get Free Report) shot up 6% during trading on Thursday . The stock traded as high as $87.05 and last traded at $87.05. 138,549 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 207,879 shares. The stock had previously closed at $82.10.

Analysts Set New Price Targets

SITM has been the subject of several research analyst reports. Barclays raised their target price on shares of SiTime from $110.00 to $130.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 16th. Stifel Nicolaus increased their price target on SiTime from $135.00 to $150.00 and gave the company a "buy" rating in a research note on Tuesday, January 2nd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $142.00.

SiTime Trading Up 7.0 %

The firm has a market capitalization of $1.99 billion, a P/E ratio of -24.20 and a beta of 1.78. The firm has a 50 day moving average price of $97.06 and a 200-day moving average price of $108.18.

SiTime (NASDAQ:SITM - Get Free Report) last posted its quarterly earnings data on Tuesday, February 13th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $42.40 million for the quarter, compared to analysts' expectations of $41.65 million. Research analysts anticipate that SiTime Co. will post -2.3 earnings per share for the current year.

Insider Activity at SiTime

In other news, CEO Rajesh Vashist sold 1,000 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $125.00, for a total value of $125,000.00. Following the sale, the chief executive officer now directly owns 428,655 shares in the company, valued at $53,581,875. The sale was disclosed in a document filed with the SEC, which is available at this link. In other SiTime news, insider Fariborz Assaderaghi sold 1,288 shares of the company's stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $90.57, for a total value of $116,654.16. Following the transaction, the insider now directly owns 111,491 shares in the company, valued at approximately $10,097,739.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Rajesh Vashist sold 1,000 shares of SiTime stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $125.00, for a total transaction of $125,000.00. Following the sale, the chief executive officer now directly owns 428,655 shares of the company's stock, valued at approximately $53,581,875. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,340 shares of company stock worth $455,780. Insiders own 1.60% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its position in shares of SiTime by 42.1% during the 2nd quarter. BlackRock Inc. now owns 2,569,540 shares of the company's stock worth $303,129,000 after buying an additional 761,370 shares in the last quarter. FMR LLC grew its holdings in SiTime by 7.5% during the 3rd quarter. FMR LLC now owns 3,054,878 shares of the company's stock worth $349,020,000 after acquiring an additional 212,615 shares in the last quarter. State Street Corp grew its holdings in SiTime by 30.1% during the 3rd quarter. State Street Corp now owns 808,383 shares of the company's stock worth $63,644,000 after acquiring an additional 187,116 shares in the last quarter. Sandhill Capital Partners LLC purchased a new position in SiTime during the 3rd quarter valued at about $18,709,000. Finally, Voya Investment Management LLC raised its holdings in shares of SiTime by 138.5% in the 4th quarter. Voya Investment Management LLC now owns 267,405 shares of the company's stock valued at $32,645,000 after purchasing an additional 155,307 shares in the last quarter. 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.