Shares of SiTime Corporation (NASDAQ:SITM - Get Free Report) saw strong trading volume on Thursday . 463,604 shares were traded during mid-day trading, an increase of 53% from the previous session's volume of 303,247 shares.The stock last traded at $206.22 and had previously closed at $203.75.
Analysts Set New Price Targets
Several equities research analysts have commented on the stock. Barclays boosted their price target on shares of SiTime from $135.00 to $180.00 and gave the stock an "underweight" rating in a research report on Wednesday, June 11th. Stifel Nicolaus boosted their price target on shares of SiTime from $180.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $224.00.
Check Out Our Latest Stock Report on SiTime
SiTime Price Performance
The stock has a 50 day moving average of $193.44 and a two-hundred day moving average of $190.38.
SiTime (NASDAQ:SITM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.15. The firm had revenue of $60.31 million for the quarter, compared to analysts' expectations of $54.01 million. SiTime had a negative return on equity of 9.43% and a negative net margin of 38.60%. SiTime's revenue was up 82.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.08) EPS. As a group, analysts expect that SiTime Corporation will post -2.44 earnings per share for the current fiscal year.
Insider Buying and Selling at SiTime
In other SiTime news, CEO Rajesh Vashist sold 20,000 shares of SiTime stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $210.65, for a total transaction of $4,213,000.00. Following the transaction, the chief executive officer now owns 490,320 shares of the company's stock, valued at $103,285,908. The trade was a 3.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Piyush B. Sevalia sold 1,039 shares of SiTime stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $220.00, for a total value of $228,580.00. Following the transaction, the insider now directly owns 85,516 shares in the company, valued at approximately $18,813,520. This trade represents a 1.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 63,818 shares of company stock valued at $13,171,258 in the last 90 days. 2.30% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On SiTime
Several institutional investors have recently made changes to their positions in the company. Rhumbline Advisers lifted its holdings in shares of SiTime by 0.9% during the 1st quarter. Rhumbline Advisers now owns 51,143 shares of the company's stock valued at $7,818,000 after buying an additional 440 shares during the last quarter. Strs Ohio acquired a new stake in shares of SiTime during the 1st quarter valued at about $734,000. Intech Investment Management LLC lifted its holdings in shares of SiTime by 21.6% during the 1st quarter. Intech Investment Management LLC now owns 8,322 shares of the company's stock valued at $1,272,000 after buying an additional 1,477 shares during the last quarter. Fred Alger Management LLC lifted its holdings in shares of SiTime by 45.5% during the 1st quarter. Fred Alger Management LLC now owns 128,525 shares of the company's stock valued at $19,648,000 after buying an additional 40,220 shares during the last quarter. Finally, Polar Asset Management Partners Inc. lifted its holdings in shares of SiTime by 118.5% during the 1st quarter. Polar Asset Management Partners Inc. now owns 48,076 shares of the company's stock valued at $7,349,000 after buying an additional 26,076 shares during the last quarter. 84.31% of the stock is currently owned by institutional investors and hedge funds.
SiTime Company Profile
(
Get Free Report)
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.
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