SiTime (NASDAQ:SITM) Hits New 12-Month Low at $76.69

Shares of SiTime Co. (NASDAQ:SITM) hit a new 52-week low on Tuesday . The stock traded as low as $76.69 and last traded at $77.44, with a volume of 4086 shares changing hands. The stock had previously closed at $78.51.

Analysts Set New Price Targets

SITM has been the topic of several recent research reports. Barclays boosted their price target on shares of SiTime from $110.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 16th. Stifel Nicolaus upped their target price on shares of SiTime from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, January 2nd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $142.00.

SiTime Price Performance

The company has a market capitalization of $1.75 billion, a PE ratio of -21.25 and a beta of 1.78. The stock’s 50 day simple moving average is $94.40 and its 200-day simple moving average is $107.18.

SiTime (NASDAQ:SITM) last issued its quarterly earnings results on Tuesday, February 13th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.01). The business had revenue of $42.40 million for the quarter, compared to analysts’ expectations of $41.65 million. SiTime had a negative return on equity of 10.21% and a negative net margin of 55.93%. On average, equities analysts predict that SiTime Co. will post -2.3 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Fariborz Assaderaghi sold 1,026 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $116.37, for a total transaction of $119,395.62. Following the sale, the insider now directly owns 94,056 shares in the company, valued at $10,945,296.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Fariborz Assaderaghi sold 1,026 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $116.37, for a total transaction of $119,395.62. Following the sale, the insider now directly owns 94,056 shares in the company, valued at $10,945,296.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Rajesh Vashist sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $125.00, for a total transaction of $125,000.00. Following the sale, the chief executive officer now owns 428,655 shares in the company, valued at $53,581,875. The disclosure for this sale can be found here. Insiders have sold 4,340 shares of company stock worth $455,780 over the last three months. Company insiders own 1.60% of the company’s stock.

Institutional Trading of SiTime

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in SiTime by 2.9% in the third quarter. Vanguard Group Inc. now owns 2,066,610 shares of the company’s stock valued at $236,110,000 after purchasing an additional 58,629 shares during the last quarter. Principal Financial Group Inc. increased its stake in SiTime by 4.7% in the third quarter. Principal Financial Group Inc. now owns 358,017 shares of the company’s stock valued at $40,903,000 after purchasing an additional 16,092 shares during the last quarter. Amica Mutual Insurance Co. increased its stake in SiTime by 478.9% in the third quarter. Amica Mutual Insurance Co. now owns 5,175 shares of the company’s stock valued at $591,000 after purchasing an additional 4,281 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in SiTime by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 132,745 shares of the company’s stock valued at $15,166,000 after purchasing an additional 7,049 shares during the last quarter. Finally, HighTower Advisors LLC increased its stake in SiTime by 243.2% in the third quarter. HighTower Advisors LLC now owns 10,924 shares of the company’s stock valued at $1,248,000 after purchasing an additional 7,741 shares during the last quarter. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

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.