Shares of SiTime Corporation (NASDAQ:SITM - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $241.60, but opened at $230.00. SiTime shares last traded at $206.23, with a volume of 98,045 shares trading hands.
Analyst Ratings Changes
SITM has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their target price 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. Barclays lifted their price objective on SiTime from $135.00 to $180.00 and gave the stock an "underweight" rating in a report on Wednesday, June 11th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, SiTime has a consensus rating of "Moderate Buy" and an average target price of $224.00.
View Our Latest Analysis on SITM
SiTime Price Performance
The stock has a market capitalization of $5.01 billion, a PE ratio of -55.72 and a beta of 2.24. The business's fifty day moving average price is $191.77 and its two-hundred day moving average price is $191.09.
SiTime (NASDAQ:SITM - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.26 EPS for the quarter, beating the consensus estimate 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 company had revenue of $60.31 million for the quarter, compared to analyst estimates of $54.01 million. During the same period in the prior year, the company earned ($0.08) earnings per share. The firm's revenue was up 82.7% on a year-over-year basis. As a group, equities research analysts anticipate that SiTime Corporation will post -2.44 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, insider Fariborz Assaderaghi sold 1,268 shares of SiTime stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $184.92, for a total value of $234,478.56. Following the sale, the insider now owns 112,316 shares in the company, valued at $20,769,474.72. This trade represents a 1.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Piyush B. Sevalia sold 1,039 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $220.00, for a total transaction of $228,580.00. Following the completion of the transaction, the insider now directly owns 85,516 shares in the company, valued at $18,813,520. This represents a 1.20% 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 valued at $13,171,258. Corporate insiders own 2.10% of the company's stock.
Institutional Investors Weigh In On SiTime
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mutual of America Capital Management LLC lifted its stake in shares of SiTime by 1.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 2,866 shares of the company's stock worth $615,000 after buying an additional 48 shares in the last quarter. Blue Trust Inc. raised its holdings in SiTime by 44.7% in the 4th quarter. Blue Trust Inc. now owns 217 shares of the company's stock valued at $47,000 after acquiring an additional 67 shares during the last quarter. Summit Investment Advisors Inc. lifted its stake in SiTime by 4.5% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,945 shares of the company's stock worth $417,000 after purchasing an additional 83 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of SiTime by 33.6% during the 1st quarter. Advisors Asset Management Inc. now owns 350 shares of the company's stock worth $54,000 after purchasing an additional 88 shares during the last quarter. Finally, Xponance Inc. boosted its holdings in shares of SiTime by 7.2% during the 1st quarter. Xponance Inc. now owns 1,419 shares of the company's stock worth $217,000 after purchasing an additional 95 shares during the last quarter. Institutional investors and hedge funds own 84.31% of the company's stock.
About SiTime
(
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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