SiTime (NASDAQ:SITM) Hits New 52-Week Low at $76.69

SiTime Co. (NASDAQ:SITM)’s share price hit a new 52-week low during trading on Tuesday . The company traded as low as $76.69 and last traded at $77.44, with a volume of 4086 shares traded. The stock had previously closed at $78.51.

Analysts Set New Price Targets

SITM has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price target on SiTime from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, January 2nd. Barclays lifted their price target on SiTime from $110.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 16th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, SiTime presently has an average rating of “Moderate Buy” and an average price target of $142.00.

SiTime Price Performance

The stock has a market capitalization of $1.78 billion, a PE ratio of -21.63 and a beta of 1.78. The company has a 50 day moving average price of $95.62 and a 200-day moving average price of $107.65.

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 the consensus estimate 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 for the quarter, compared to the consensus estimate of $41.65 million. As a group, equities analysts anticipate that SiTime Co. will post -2.3 earnings per share for the current year.

Insider Activity at SiTime

In related news, CEO Rajesh Vashist sold 1,000 shares of SiTime stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $125.00, for a total transaction of $125,000.00. Following the sale, the chief executive officer now directly owns 428,655 shares in the company, valued at $53,581,875. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other SiTime news, insider Fariborz Assaderaghi sold 1,026 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $92.33, for a total value of $94,730.58. Following the sale, the insider now directly owns 90,887 shares of the company’s stock, valued at $8,391,596.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Rajesh Vashist sold 1,000 shares of the business’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $125.00, for a total value of $125,000.00. Following the completion of the sale, the chief executive officer now directly owns 428,655 shares in the company, valued at $53,581,875. The disclosure for this sale can be found here. Insiders have sold 4,340 shares of company stock worth $455,780 over the last ninety days. 1.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Pineridge Advisors LLC purchased a new position in shares of SiTime in the fourth quarter worth $25,000. Parkside Financial Bank & Trust raised its stake in shares of SiTime by 99.3% in the second quarter. Parkside Financial Bank & Trust now owns 305 shares of the company’s stock worth $36,000 after purchasing an additional 152 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of SiTime by 78.2% in the fourth quarter. Quadrant Capital Group LLC now owns 335 shares of the company’s stock worth $41,000 after purchasing an additional 147 shares during the last quarter. Macquarie Group Ltd. purchased a new position in shares of SiTime in the first quarter worth $50,000. Finally, Covestor Ltd raised its stake in shares of SiTime by 14,500.0% in the first quarter. Covestor Ltd now owns 438 shares of the company’s stock worth $109,000 after purchasing an additional 435 shares during the last quarter. Hedge funds and other 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.