SiTime (NASDAQ:SITM) Sees Large Volume Increase – What’s Next?

Shares of SiTime Co. (NASDAQ:SITM) saw unusually-strong trading volume on Thursday . Approximately 365,579 shares were traded during trading, an increase of 63% from the previous session’s volume of 224,118 shares.The stock last traded at $162.03 and had previously closed at $166.46.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SITM shares. Barclays upped their price target on shares of SiTime from $130.00 to $160.00 and gave the company an “underweight” rating in a report on Friday, January 17th. Raymond James reaffirmed an “outperform” rating and issued a $250.00 target price (up previously from $215.00) on shares of SiTime in a report on Thursday, February 6th. Stifel Nicolaus raised their target price on SiTime from $250.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Finally, Needham & Company LLC raised their target price on SiTime from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $232.00.

SiTime Trading Up 5.4 %

The company has a market cap of $3.94 billion, a price-to-earnings ratio of -41.24 and a beta of 1.85. The company has a fifty day moving average price of $196.12 and a two-hundred day moving average price of $192.36.

Insider Transactions at SiTime

In other news, insider Fariborz Assaderaghi sold 1,002 shares of SiTime stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $220.94, for a total transaction of $221,381.88. Following the sale, the insider now owns 100,681 shares of the company’s stock, valued at approximately $22,244,460.14. This trade represents a 0.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Piyush B. Sevalia sold 1,038 shares of SiTime stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $157.64, for a total value of $163,630.32. Following the sale, the insider now directly owns 92,847 shares in the company, valued at $14,636,401.08. The trade was a 1.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,544 shares of company stock valued at $1,200,095. 2.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SiTime

Several hedge funds and other institutional investors have recently modified their holdings of SITM. Invesco Ltd. lifted its position in shares of SiTime by 11.0% during the 4th quarter. Invesco Ltd. now owns 983,175 shares of the company’s stock worth $210,921,000 after buying an additional 97,062 shares during the period. Hood River Capital Management LLC lifted its position in shares of SiTime by 27.0% during the 4th quarter. Hood River Capital Management LLC now owns 421,960 shares of the company’s stock worth $90,523,000 after buying an additional 89,632 shares during the period. Emerald Advisers LLC bought a new position in shares of SiTime during the 4th quarter worth approximately $18,673,000. Capital World Investors bought a new position in shares of SiTime during the 4th quarter worth approximately $17,654,000. Finally, Driehaus Capital Management LLC lifted its position in shares of SiTime by 24.2% during the 4th quarter. Driehaus Capital Management LLC now owns 385,325 shares of the company’s stock worth $82,664,000 after buying an additional 75,192 shares during the period. 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.