SiTime (NASDAQ:SITM) Reaches New 1-Year High - Here's What Happened

Key Points

• SiTime hit a new 52-week high intraday at $592.48 (last $589.93) on Tuesday with about 66,850 shares traded, valuing the company near $15.8 billion and well above its 50-/200-day moving averages (~$406/$362).
• Analysts remain mostly positive—seven Buys vs. one Hold and one Sell—with a MarketBeat consensus of “Moderate Buy” and an average target of $415.63, though some firms have raised targets (Stifel $500, UBS $485).
• SiTime beat quarterly estimates (EPS $1.53 vs. $1.20; revenue $113.3M, up 66.3% YoY) but still shows a negative net margin and ROE, and insiders have sold stock recently (26,178 shares worth roughly $11.3M over 90 days).

Shares of SiTime Corporation (NASDAQ:SITM - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $592.48 and last traded at $589.9280, with a volume of 66850 shares trading hands. The stock had previously closed at $564.68.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SITM. UBS Group boosted their price target on shares of SiTime from $430.00 to $485.00 and gave the company a "buy" rating in a report on Thursday, February 5th. Barclays set a $400.00 price target on shares of SiTime in a report on Thursday, February 5th. Stifel Nicolaus boosted their price target on shares of SiTime from $450.00 to $500.00 and gave the company a "buy" rating in a report on Thursday, April 16th. Needham & Company LLC boosted their price objective on shares of SiTime from $400.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday, February 5th. Finally, Roth Mkm reaffirmed a "buy" rating and issued a $450.00 price objective on shares of SiTime in a research report on Thursday, February 5th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $415.63.

SiTime Stock Performance

The firm has a market capitalization of $15.77 billion, a P/E ratio of -327.72 and a beta of 2.91. The firm's 50-day moving average is $406.34 and its 200 day moving average is $362.43.

SiTime (NASDAQ:SITM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.20 by $0.33. SiTime had a negative net margin of 13.13% and a negative return on equity of 2.06%. The business had revenue of $113.29 million for the quarter, compared to analysts' expectations of $101.91 million. During the same period in the previous year, the firm posted $0.48 EPS. The firm's revenue was up 66.3% compared to the same quarter last year. As a group, research analysts expect that SiTime Corporation will post 1.31 EPS for the current fiscal year.

Insider Activity

In other SiTime news, insider Fariborz Assaderaghi sold 4,984 shares of the business's stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $406.45, for a total transaction of $2,025,746.80. Following the sale, the insider directly owned 89,194 shares of the company's stock, valued at $36,252,901.30. The trade was a 5.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Raman Chitkara sold 501 shares of the business's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $425.03, for a total transaction of $212,940.03. Following the sale, the director directly owned 21,508 shares in the company, valued at $9,141,545.24. This trade represents a 2.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 26,178 shares of company stock worth $11,282,324. 1.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SiTime

Several institutional investors and hedge funds have recently added to or reduced their stakes in SITM. Emerald Mutual Fund Advisers Trust increased its stake in shares of SiTime by 10.6% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 98,689 shares of the company's stock worth $29,736,000 after purchasing an additional 9,492 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of SiTime by 25.0% during the 3rd quarter. Federated Hermes Inc. now owns 125,000 shares of the company's stock worth $37,664,000 after purchasing an additional 25,000 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in shares of SiTime by 145.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 12,215 shares of the company's stock worth $3,681,000 after purchasing an additional 7,247 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in shares of SiTime by 21.2% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 44,363 shares of the company's stock worth $13,367,000 after purchasing an additional 7,772 shares during the last quarter. Finally, Cibc World Market Inc. acquired a new position in shares of SiTime during the 3rd quarter worth about $2,259,000. 84.31% of the stock is owned by institutional investors.

About SiTime

SiTime Corporation is a fabless semiconductor company specializing in silicon timing solutions that leverage micro-electromechanical systems (MEMS) technology as an alternative to traditional quartz crystals. Its portfolio of programmable oscillators, resonators, clock generators, jitter attenuators and network synchronizers addresses precision timekeeping requirements across a wide range of electronic systems. By integrating MEMS resonators with advanced mixed-signal control circuitry, SiTime's products offer enhanced reliability, resistance to shock and vibration, and a smaller footprint compared with conventional quartz devices.

The company's timing devices serve diverse end markets, including telecommunications infrastructure, data center and enterprise networking, consumer electronics, automotive systems, industrial automation, and aerospace and defense applications.

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