SiTime (NASDAQ:SITM) Sees Unusually-High Trading Volume – Should You Buy?

SiTime Co. (NASDAQ:SITM) shares saw unusually-strong trading volume on Thursday . Approximately 310,875 shares were traded during trading, an increase of 43% from the previous session’s volume of 217,881 shares.The stock last traded at $203.58 and had previously closed at $182.19.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SITM. Raymond James reaffirmed an “outperform” rating and issued a $250.00 price objective (up from $215.00) on shares of SiTime in a research report on Thursday, February 6th. Barclays raised their target price on shares of SiTime from $130.00 to $160.00 and gave the company an “underweight” rating in a report on Friday, January 17th. Needham & Company LLC upped their price objective on SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Roth Mkm boosted their target price on SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Stifel Nicolaus increased their price target on SiTime from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, SiTime presently has a consensus rating of “Moderate Buy” and an average target price of $232.00.

SiTime Trading Down 2.8 %

The business has a fifty day moving average of $204.07 and a 200-day moving average of $191.60. The firm has a market cap of $4.18 billion, a PE ratio of -43.45 and a beta of 1.85.

Insiders Place Their Bets

In other news, insider Fariborz Assaderaghi sold 1,000 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $249.42, for a total value of $249,420.00. Following the completion of the sale, the insider now owns 101,683 shares of the company’s stock, valued at approximately $25,361,773.86. This represents a 0.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Piyush B. Sevalia sold 1,038 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $157.64, for a total transaction of $163,630.32. Following the transaction, the insider now directly owns 92,847 shares in the company, valued at approximately $14,636,401.08. This represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,108 shares of company stock worth $5,474,335 in the last ninety days. 2.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SITM. FMR LLC increased its stake in SiTime by 1.1% in the 3rd quarter. FMR LLC now owns 3,469,843 shares of the company’s stock worth $595,113,000 after purchasing an additional 39,119 shares during the period. Vanguard Group Inc. grew its holdings in SiTime by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 2,468,348 shares of the company’s stock worth $529,535,000 after acquiring an additional 52,310 shares during the last quarter. Invesco Ltd. increased its position in shares of SiTime by 11.0% in the fourth quarter. Invesco Ltd. now owns 983,175 shares of the company’s stock valued at $210,921,000 after acquiring an additional 97,062 shares during the period. State Street Corp grew its stake in shares of SiTime by 3.1% in the third quarter. State Street Corp now owns 922,974 shares of the company’s stock worth $158,299,000 after purchasing an additional 27,692 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in SiTime by 16.1% during the 4th quarter. Ameriprise Financial Inc. now owns 515,735 shares of the company’s stock valued at $110,641,000 after purchasing an additional 71,658 shares during the period. Hedge funds and other institutional investors own 84.31% of the company’s stock.

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.