SiTime Co. (NASDAQ:SITM – Get Rating) shares reached a new 52-week low on Tuesday after Barclays lowered their price target on the stock from $195.00 to $130.00. The company traded as low as $91.50 and last traded at $96.10, with a volume of 2857 shares traded. The stock had previously closed at $103.05.
Chipmaker SiTime Near All-Time High Ground On Strong Sales, Earnings Growth
Other equities analysts also recently issued research reports about the stock. Needham & Company LLC lowered their target price on shares of SiTime from $225.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, August 4th. Raymond James lowered their target price on shares of SiTime from $320.00 to $240.00 and set an “outperform” rating on the stock in a report on Thursday, August 4th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $226.25.
Insider Activity at SiTime
In other SiTime news, CEO Rajesh Vashist sold 5,000 shares of the business’s stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $179.15, for a total transaction of $895,750.00. Following the transaction, the chief executive officer now owns 540,549 shares in the company, valued at $96,839,353.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Fariborz Assaderaghi sold 468 shares of SiTime stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $113.00, for a total transaction of $52,884.00. Following the completion of the sale, the insider now owns 116,685 shares of the company’s stock, valued at $13,185,405. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Rajesh Vashist sold 5,000 shares of SiTime stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $179.15, for a total transaction of $895,750.00. Following the sale, the chief executive officer now directly owns 540,549 shares of the company’s stock, valued at approximately $96,839,353.35. The disclosure for this sale can be found here. Insiders have sold a total of 13,480 shares of company stock valued at $2,026,204 over the last 90 days. 1.16% of the stock is owned by corporate insiders.
Institutional Trading of SiTime
Several institutional investors and hedge funds have recently modified their holdings of the stock. Arlington Capital Management Inc. raised its stake in SiTime by 3.3% in the first quarter. Arlington Capital Management Inc. now owns 1,780 shares of the company’s stock worth $441,000 after buying an additional 57 shares in the last quarter. Mackenzie Financial Corp raised its stake 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 buying an additional 61 shares in the last quarter. PFG Advisors raised its stake in SiTime by 4.4% in the first quarter. PFG Advisors now owns 2,236 shares of the company’s stock worth $554,000 after buying an additional 95 shares in the last quarter. State of Alaska Department of Revenue raised its stake 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 worth $364,000 after buying an additional 95 shares in the last quarter. Finally, Yousif Capital Management LLC raised its stake in SiTime by 1.2% in the first quarter. Yousif Capital Management LLC now owns 8,091 shares of the company’s stock worth $2,005,000 after buying an additional 98 shares in the last quarter. Institutional investors own 72.84% of the company’s stock.
SiTime Price Performance
The company’s fifty day simple moving average is $140.38 and its 200-day simple moving average is $176.16. The firm has a market capitalization of $2.02 billion, a PE ratio of 39.47, a price-to-earnings-growth ratio of 4.94 and a beta of 1.81.
About SiTime
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.