SiTime (NASDAQ:SITM) Stock Price Down 2.9%

Shares of SiTime Co. (NASDAQ:SITM - Get Free Report) dropped 2.9% during mid-day trading on Friday . The stock traded as low as $84.49 and last traded at $84.72. Approximately 103,168 shares traded hands during trading, a decline of 49% from the average daily volume of 202,243 shares. The stock had previously closed at $87.25.

Analysts Set New Price Targets

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

SiTime Price Performance

The firm's fifty day simple moving average is $98.72 and its 200 day simple moving average is $108.71. The company has a market capitalization of $1.90 billion, a PE ratio of -23.01 and a beta of 1.78.

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

Insider Activity

In related news, insider Fariborz Assaderaghi sold 1,288 shares of SiTime stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $90.57, for a total value of $116,654.16. Following the sale, the insider now directly owns 111,491 shares in the company, valued at approximately $10,097,739.87. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Fariborz Assaderaghi sold 1,288 shares of the 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 completion of the sale, the insider now directly owns 111,491 shares in the company, valued at $10,097,739.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Rajesh Vashist sold 1,000 shares of the 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 disclosure for this sale can be found here. Insiders have sold 4,340 shares of company stock worth $455,780 in the last quarter. Corporate insiders own 1.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Pineridge Advisors LLC purchased a new stake in shares of SiTime in the 4th quarter valued at approximately $25,000. Parkside Financial Bank & Trust lifted its holdings in SiTime by 99.3% in the second quarter. Parkside Financial Bank & Trust now owns 305 shares of the company's stock valued at $36,000 after acquiring an additional 152 shares during the last quarter. Pinebridge Investments L.P. acquired a new position in shares of SiTime in the 2nd quarter valued at $39,000. Quadrant Capital Group LLC grew its holdings in shares of SiTime by 78.2% during the 4th quarter. Quadrant Capital Group LLC now owns 335 shares of the company's stock worth $41,000 after purchasing an additional 147 shares during the period. Finally, Macquarie Group Ltd. acquired a new stake in shares of SiTime during the 1st quarter worth about $50,000. Hedge funds and other institutional investors own 84.31% of the company's stock.

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.