SiTime (NASDAQ:SITM) Sees Unusually-High Trading Volume - Time to Buy?

SiTime Corporation (NASDAQ:SITM - Get Free Report) saw strong trading volume on Thursday . 463,604 shares changed hands 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.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Barclays increased their price target on SiTime from $135.00 to $180.00 and gave the stock an "underweight" rating in a report on Wednesday, June 11th. Stifel Nicolaus upped their price objective 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 equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $224.00.

SiTime Price Performance

The stock has a 50 day moving average of $191.77 and a two-hundred day moving average of $191.09. The stock has a market capitalization of $5.06 billion, a PE ratio of -56.16 and a beta of 2.24.

SiTime (NASDAQ:SITM - Get Free Report) last posted 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. SiTime had a negative net margin of 38.60% and a negative return on equity of 9.43%. The business had revenue of $60.31 million for the quarter, compared to analysts' expectations of $54.01 million. During the same period in the prior year, the company posted ($0.08) EPS. The business's revenue for the quarter was up 82.7% on a year-over-year basis. As a group, research analysts predict that SiTime Corporation will post -2.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Fariborz Assaderaghi sold 1,267 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $147.80, for a total transaction of $187,262.60. Following the sale, the insider now owns 113,584 shares of the company's stock, valued at $16,787,715.20. The trade was a 1.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Rajesh Vashist sold 20,000 shares of SiTime stock in a transaction on Friday, May 16th. The stock was sold at an average price of $210.65, for a total value of $4,213,000.00. Following the transaction, the chief executive officer now directly owns 490,320 shares of the company's stock, valued at approximately $103,285,908. This represents a 3.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,818 shares of company stock worth $13,171,258. 2.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fourth Dimension Wealth LLC acquired a new stake in SiTime in the 4th quarter valued at about $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of SiTime in the first quarter valued at about $32,000. Blue Trust Inc. lifted its holdings in shares of SiTime by 44.7% in the fourth quarter. Blue Trust Inc. now owns 217 shares of the company's stock valued at $47,000 after purchasing an additional 67 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of SiTime in the fourth quarter valued at approximately $58,000. Finally, Smartleaf Asset Management LLC grew its position in shares of SiTime by 278.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock valued at $60,000 after purchasing an additional 206 shares during the last quarter. Institutional investors and hedge funds 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.