SiTime Co. (NASDAQ:SITM – Get Rating) shares hit a new 52-week low during trading on Tuesday after Needham & Company LLC lowered their price target on the stock from $210.00 to $125.00. Needham & Company LLC currently has a buy rating on the stock. SiTime traded as low as $76.55 and last traded at $77.60, with a volume of 1935 shares trading hands. The stock had previously closed at $80.11.
Other equities analysts have also recently issued reports about the company. Barclays decreased their target price on SiTime from $195.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, September 13th. Raymond James decreased their price target on SiTime from $320.00 to $240.00 and set an “outperform” rating on the stock in a report on Thursday, August 4th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $205.00.
Insider Activity
In other news, CEO Rajesh Vashist sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $179.15, for a total transaction of $895,750.00. Following the completion of the transaction, the chief executive officer now owns 540,549 shares in the company, valued at $96,839,353.35. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Akira Takata sold 2,000 shares of SiTime stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $135.62, for a total value of $271,240.00. Following the completion of the transaction, the director now owns 11,353 shares in the company, valued at $1,539,693.86. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Rajesh Vashist sold 5,000 shares of SiTime stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $179.15, for a total value of $895,750.00. Following the completion of the transaction, the chief executive officer now 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 sold a total of 13,480 shares of company stock worth $2,026,204 over the last 90 days. Corporate insiders own 1.16% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of SITM. Meeder Asset Management Inc. purchased a new position in shares of SiTime during the first quarter valued at approximately $41,000. Amundi purchased a new position in shares of SiTime during the second quarter valued at approximately $47,000. Nisa Investment Advisors LLC purchased a new position in shares of SiTime during the first quarter valued at approximately $78,000. Covestor Ltd boosted its position in shares of SiTime by 14,500.0% during the first quarter. Covestor Ltd now owns 438 shares of the company’s stock valued at $109,000 after buying an additional 435 shares during the period. Finally, FourThought Financial LLC boosted its position in shares of SiTime by 30.1% during the first quarter. FourThought Financial LLC now owns 454 shares of the company’s stock valued at $113,000 after buying an additional 105 shares during the period. Hedge funds and other institutional investors own 72.84% of the company’s stock.
SiTime Price Performance
The company has a 50-day simple moving average of $108.40 and a 200-day simple moving average of $158.87. The firm has a market cap of $1.66 billion, a PE ratio of 32.33, a price-to-earnings-growth ratio of 4.04 and a beta of 1.94.
SiTime (NASDAQ:SITM – Get Rating) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.23. SiTime had a net margin of 18.31% and a return on equity of 9.22%. The firm had revenue of $79.42 million during the quarter, compared to the consensus estimate of $77.10 million. As a group, equities research analysts predict that SiTime Co. will post 1.38 earnings per share for the current year.
SiTime Company Profile
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.