SiTime (NASDAQ:SITM) Stock Price Down 3.1%

SiTime Co. (NASDAQ:SITM)’s share price was down 3.1% during trading on Friday . The stock traded as low as $130.16 and last traded at $130.16. Approximately 6,135 shares traded hands during trading, a decline of 97% from the average daily volume of 211,903 shares. The stock had previously closed at $134.33.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Stifel Nicolaus upped their target price on shares of SiTime from $150.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Barclays lowered shares of SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 price objective on the stock. in a research note on Tuesday, August 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $130.00 target price on shares of SiTime in a research note on Tuesday, June 25th.

SiTime Price Performance

The firm has a 50-day simple moving average of $138.49 and a 200-day simple moving average of $115.04. The firm has a market capitalization of $2.93 billion, a PE ratio of -32.53 and a beta of 1.82.

SiTime (NASDAQ:SITM) last announced its earnings results on Wednesday, August 7th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.08. SiTime had a negative net margin of 60.46% and a negative return on equity of 10.53%. The company had revenue of $43.90 million during the quarter, compared to analyst estimates of $41.01 million. During the same period in the previous year, the business posted ($1.17) earnings per share. The firm’s quarterly revenue was up 58.5% compared to the same quarter last year. Equities analysts expect that SiTime Co. will post -3.03 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Fariborz Assaderaghi sold 1,083 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $121.61, for a total value of $131,703.63. Following the transaction, the insider now owns 104,186 shares of the company’s stock, valued at $12,670,059.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other SiTime news, insider Fariborz Assaderaghi sold 1,083 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $121.61, for a total value of $131,703.63. Following the completion of the transaction, the insider now directly owns 104,186 shares in the company, valued at $12,670,059.46. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Vincent P. Pangrazio sold 1,962 shares of the firm’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $150.00, for a total transaction of $294,300.00. Following the sale, the insider now owns 69,175 shares in the company, valued at $10,376,250. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,005 shares of company stock valued at $6,608,878. 2.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On SiTime

A number of hedge funds have recently made changes to their positions in SITM. Vanguard Group Inc. lifted its holdings in SiTime by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock worth $205,412,000 after purchasing an additional 85,800 shares in the last quarter. Wasatch Advisors LP lifted its holdings in shares of SiTime by 2.9% in the fourth quarter. Wasatch Advisors LP now owns 892,102 shares of the company’s stock worth $108,908,000 after buying an additional 25,324 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of SiTime by 15.2% during the second quarter. Principal Financial Group Inc. now owns 388,999 shares of the company’s stock worth $48,384,000 after acquiring an additional 51,407 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in SiTime by 16.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 246,637 shares of the company’s stock valued at $30,112,000 after acquiring an additional 35,491 shares in the last quarter. Finally, William Blair Investment Management LLC increased its holdings in SiTime by 62.0% in the 2nd quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock valued at $25,883,000 after acquiring an additional 79,648 shares during the last quarter. Institutional investors own 84.31% of the company’s stock.

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.