SiTime (NASDAQ:SITM) Sets New 12-Month Low Following Analyst Downgrade

SiTime Co. (NASDAQ:SITMGet Rating)’s stock price hit a new 52-week low during mid-day trading on Tuesday after Barclays lowered their price target on the stock from $195.00 to $130.00. Barclays currently has an overweight rating on the stock. SiTime traded as low as $91.50 and last traded at $96.10, with a volume of 2857 shares changing hands. The stock had previously closed at $103.05.

A number of other research firms have also recently issued reports on SITM. Raymond James decreased their price target on shares of SiTime from $320.00 to $240.00 and set an “outperform” rating for the company in a report on Thursday, August 4th. Needham & Company LLC dropped their price objective on shares of SiTime from $225.00 to $210.00 and set a “buy” rating for the company in a report on Thursday, August 4th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $226.25.

Insider Transactions at SiTime

In other news, Director Akira Takata sold 240 shares of the stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $136.46, for a total transaction of $32,750.40. Following the completion of the sale, the director now directly owns 15,353 shares in the company, valued at $2,095,070.38. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Rajesh Vashist sold 5,000 shares of SiTime stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $179.15, for a total value of $895,750.00. Following the transaction, the chief executive officer now directly owns 540,549 shares of the company’s stock, valued at $96,839,353.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Akira Takata sold 240 shares of the business’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $136.46, for a total transaction of $32,750.40. Following the transaction, the director now directly owns 15,353 shares in the company, valued at $2,095,070.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,480 shares of company stock valued at $2,026,204. Company insiders own 1.16% of the company’s stock.

Hedge Funds Weigh In On SiTime

A number of hedge funds have recently bought and sold shares of the company. Arlington Capital Management Inc. increased its holdings in SiTime by 3.3% in the 1st quarter. Arlington Capital Management Inc. now owns 1,780 shares of the company’s stock worth $441,000 after acquiring an additional 57 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in SiTime by 8.1% in the first quarter. Mackenzie Financial Corp now owns 811 shares of the company’s stock worth $201,000 after acquiring an additional 61 shares in the last quarter. PFG Advisors lifted its holdings in shares of SiTime by 4.4% during the first quarter. PFG Advisors now owns 2,236 shares of the company’s stock worth $554,000 after purchasing an additional 95 shares during the period. State of Alaska Department of Revenue lifted its holdings in SiTime by 4.4% in the second quarter. State of Alaska Department of Revenue now owns 2,235 shares of the company’s stock valued at $364,000 after acquiring an additional 95 shares during the period. Finally, Yousif Capital Management LLC increased its position in shares of SiTime by 1.2% in the first quarter. Yousif Capital Management LLC now owns 8,091 shares of the company’s stock valued at $2,005,000 after buying an additional 98 shares in the last quarter. Institutional investors own 72.84% of the company’s stock.

SiTime Stock Down 10.8 %

The company has a 50-day moving average of $139.39 and a 200 day moving average of $175.58. The stock has a market capitalization of $1.96 billion, a PE ratio of 38.30, a PEG ratio of 4.94 and a beta of 1.81.

About SiTime

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SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. Its solutions have applications in various markets, including communications and enterprise, automotive, industrial, Internet of Things, mobile, consumer, and aerospace and defense.

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