SiTime (NASDAQ:SITM) Stock Price Up 4.6%

Shares of SiTime Co. (NASDAQ:SITM) shot up 4.6% during trading on Thursday . The stock traded as high as $79.73 and last traded at $79.72. 110,635 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 203,667 shares. The stock had previously closed at $76.22.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SITM. Stifel Nicolaus raised their price target on shares of SiTime from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, January 2nd. Barclays raised their price target on shares of SiTime from $110.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 16th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, SiTime presently has an average rating of “Moderate Buy” and a consensus price target of $142.00.

SiTime Stock Performance

The firm has a market capitalization of $1.90 billion, a P/E ratio of -22.23 and a beta of 1.78. The business’s fifty day moving average price is $89.78 and its two-hundred day moving average price is $105.84.

SiTime (NASDAQ:SITM) last released its quarterly earnings results on Tuesday, February 13th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.01). SiTime had a negative net margin of 55.93% and a negative return on equity of 10.21%. The firm had revenue of $42.40 million during the quarter, compared to the consensus estimate of $41.65 million. Sell-side analysts predict that SiTime Co. will post -2.3 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Fariborz Assaderaghi sold 1,288 shares of SiTime stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $90.57, for a total value of $116,654.16. Following the completion of the sale, the insider now directly owns 111,491 shares in the company, valued at approximately $10,097,739.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 3,340 shares of company stock worth $330,780 in the last three months. Corporate insiders own 2.30% of the company’s stock.

Institutional Trading of SiTime

A number of institutional investors have recently bought and sold shares of SITM. SG Americas Securities LLC acquired a new stake in SiTime in the 3rd quarter worth approximately $1,823,000. Handelsbanken Fonder AB raised its position in SiTime by 51.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 3,784 shares of the company’s stock worth $432,000 after buying an additional 1,284 shares during the last quarter. Cavalier Investments LLC raised its position in SiTime by 3.5% during the 3rd quarter. Cavalier Investments LLC now owns 9,256 shares of the company’s stock worth $1,057,000 after buying an additional 314 shares during the last quarter. Brown Advisory Inc. raised its position in SiTime by 8.2% during the 3rd quarter. Brown Advisory Inc. now owns 69,272 shares of the company’s stock worth $7,914,000 after buying an additional 5,269 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in SiTime by 18.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,483 shares of the company’s stock worth $398,000 after buying an additional 537 shares during the last quarter. 84.31% of the stock is currently owned by institutional investors and hedge funds.

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.