SiTime (NASDAQ:SITM) Hits New 1-Year High – Time to Buy?

SiTime Co. (NASDAQ:SITM)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $228.94 and last traded at $228.41, with a volume of 69144 shares trading hands. The stock had previously closed at $219.28.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SITM shares. Needham & Company LLC upped their price target on SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Barclays upped their price target on SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a report on Friday, November 8th. Stifel Nicolaus increased their price objective on SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, Roth Mkm increased their price objective on SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

SiTime Trading Up 1.9 %

The business has a 50 day moving average of $190.15 and a 200-day moving average of $154.55. The stock has a market cap of $5.22 billion, a PE ratio of -52.97 and a beta of 1.86.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.14. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. The company had revenue of $57.70 million during the quarter, compared to analysts’ expectations of $55.10 million. During the same period last year, the firm earned ($0.81) EPS. The firm’s revenue for the quarter was up 62.4% on a year-over-year basis. Research analysts expect that SiTime Co. will post -2.98 EPS for the current fiscal year.

Insider Activity at SiTime

In other SiTime news, Director Torsten Kreindl sold 6,000 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $220.86, for a total transaction of $1,325,160.00. Following the sale, the director now directly owns 13,511 shares in the company, valued at approximately $2,984,039.46. The trade was a 30.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Rajesh Vashist sold 20,000 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $170.07, for a total value of $3,401,400.00. Following the sale, the chief executive officer now owns 424,417 shares in the company, valued at approximately $72,180,599.19. The trade was a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,514 shares of company stock worth $6,382,144 over the last three months. 2.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SiTime

Institutional investors have recently made changes to their positions in the stock. Signaturefd LLC increased its stake in SiTime by 67.4% during the third quarter. Signaturefd LLC now owns 149 shares of the company’s stock worth $26,000 after acquiring an additional 60 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in SiTime by 59.5% in the second quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock valued at $29,000 after purchasing an additional 88 shares during the last quarter. GAMMA Investing LLC boosted its holdings in SiTime by 281.0% in the second quarter. GAMMA Investing LLC now owns 381 shares of the company’s stock valued at $47,000 after purchasing an additional 281 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in SiTime in the second quarter valued at about $49,000. Finally, Van ECK Associates Corp purchased a new position in SiTime in the third quarter valued at about $123,000. 84.31% of the stock is owned by institutional investors and hedge funds.

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.