SiTime (NASDAQ:SITM) Shares Gap Down to $234.49

SiTime Co. (NASDAQ:SITM) shares gapped down before the market opened on Monday . The stock had previously closed at $234.49, but opened at $228.09. SiTime shares last traded at $228.07, with a volume of 99 shares changing hands.

Several equities research analysts have weighed in on the stock. Roth Capital increased their price target on shares of SiTime from $200.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, September 1st. Credit Suisse Group started coverage on shares of SiTime in a research report on Monday, August 30th. They issued an “outperform” rating and a $225.00 target price for the company. Zacks Investment Research raised shares of SiTime from a “hold” rating to a “strong-buy” rating and set a $236.00 target price for the company in a research report on Thursday, August 12th. Raymond James raised their target price on shares of SiTime from $150.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, August 5th. Finally, Barclays raised their target price on shares of SiTime from $175.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 14th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $221.00.

The company’s 50 day moving average is $190.36 and its 200-day moving average is $134.53. The company has a market capitalization of $4.40 billion, a P/E ratio of -5,862.25, a price-to-earnings-growth ratio of 17.41 and a beta of 0.62.

SiTime (NASDAQ:SITM) last released its quarterly earnings data on Wednesday, August 4th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.23. The business had revenue of $44.50 million during the quarter, compared to analyst estimates of $40.04 million. SiTime had a negative net margin of 0.14% and a negative return on equity of 0.11%. The firm’s quarterly revenue was up 107.0% on a year-over-year basis. As a group, analysts anticipate that SiTime Co. will post 0.87 EPS for the current fiscal year.

In related news, insider Lionel Bonnot sold 2,198 shares of the firm’s stock in a transaction that occurred on Thursday, August 5th. The shares were sold at an average price of $166.58, for a total value of $366,142.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Rajesh Vashist sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 15th. The stock was sold at an average price of $217.38, for a total transaction of $5,434,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 74,650 shares of company stock valued at $14,935,698. 0.80% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the business. Franklin Resources Inc. raised its position in shares of SiTime by 160.3% during the first quarter. Franklin Resources Inc. now owns 1,464,466 shares of the company’s stock valued at $144,396,000 after buying an additional 901,966 shares during the last quarter. FMR LLC raised its position in shares of SiTime by 47.8% during the second quarter. FMR LLC now owns 2,022,466 shares of the company’s stock valued at $256,024,000 after buying an additional 654,173 shares during the last quarter. Macquarie Group Ltd. raised its position in shares of SiTime by 164,672.9% during the second quarter. Macquarie Group Ltd. now owns 377,330 shares of the company’s stock valued at $47,766,000 after buying an additional 377,101 shares during the last quarter. Trigran Investments Inc. raised its position in shares of SiTime by 53.3% during the first quarter. Trigran Investments Inc. now owns 424,312 shares of the company’s stock valued at $41,837,000 after buying an additional 147,491 shares during the last quarter. Finally, BlackRock Inc. increased its position in SiTime by 17.0% in the first quarter. BlackRock Inc. now owns 883,322 shares of the company’s stock worth $87,096,000 after purchasing an additional 128,293 shares during the last quarter. 63.09% of the stock is currently owned by institutional investors and hedge funds.

SiTime Company Profile (NASDAQ:SITM)

SiTime Corporation provides silicon timing systems in Taiwan, Hong Kong, the United States, and internationally. It provides resonators and clock integrated circuits, and various types of oscillators. The company's solutions are used in various markets, including enterprise and telecommunications infrastructure, automotive, industrial, Internet of Things, mobile, and aerospace and defense.

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