SiTime (NASDAQ:SITM) Shares Up 4.6%

SiTime Co. (NASDAQ:SITM) shares shot up 4.6% on Thursday . The company traded as high as $79.73 and last traded at $79.72. 110,635 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 203,667 shares. The stock had previously closed at $76.22.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Barclays upped their target price on SiTime from $110.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 16th. Stifel Nicolaus upped their target price on SiTime from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, January 2nd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, SiTime currently has an average rating of “Moderate Buy” and a consensus price target of $142.00.

SiTime Trading Up 6.9 %

The firm has a market capitalization of $2.03 billion, a PE ratio of -24.46 and a beta of 1.78. The firm has a 50-day moving average of $89.00 and a two-hundred day moving average of $105.50.

SiTime (NASDAQ:SITM) last issued its earnings results on Tuesday, February 13th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.01). The firm had revenue of $42.40 million during 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%. Equities research analysts expect that SiTime Co. will post -2.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Fariborz Assaderaghi sold 1,288 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $90.57, for a total value of $116,654.16. Following the transaction, the insider now directly owns 111,491 shares of the company’s stock, valued at approximately $10,097,739.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have sold 3,340 shares of company stock valued at $330,780. 2.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. FMR LLC increased its holdings in SiTime by 7.5% in the 3rd quarter. FMR LLC now owns 3,054,878 shares of the company’s stock valued at $349,020,000 after purchasing an additional 212,615 shares in the last quarter. Vanguard Group Inc. increased its holdings in SiTime by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 2,117,486 shares of the company’s stock valued at $258,503,000 after purchasing an additional 50,876 shares in the last quarter. Wasatch Advisors LP increased its holdings in SiTime by 2.9% in the 4th quarter. Wasatch Advisors LP now owns 892,102 shares of the company’s stock valued at $108,908,000 after purchasing an additional 25,324 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in SiTime by 8.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 613,583 shares of the company’s stock valued at $70,102,000 after purchasing an additional 46,672 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in SiTime by 0.5% in the 4th quarter. Principal Financial Group Inc. now owns 359,929 shares of the company’s stock valued at $43,940,000 after purchasing an additional 1,912 shares in the last quarter. 84.31% of the stock is owned by hedge funds and other institutional investors.

About SiTime

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.