SiTime (NASDAQ:SITM) Sets New 1-Year High – Should You Buy?

SiTime Corporation (NASDAQ:SITM)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $859.41 and last traded at $855.9470, with a volume of 112069 shares traded. The stock had previously closed at $833.08.

Analyst Upgrades and Downgrades

SITM has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of SiTime in a research note on Tuesday, April 21st. Roth Mkm reiterated a “buy” rating and issued a $900.00 price target on shares of SiTime in a research note on Thursday, May 7th. UBS Group boosted their price target on SiTime from $675.00 to $775.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Wall Street Zen upgraded SiTime from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Stifel Nicolaus boosted their price target on SiTime from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Eight investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $661.88.

SiTime Stock Down 1.4%

The firm has a market capitalization of $22.05 billion, a P/E ratio of 10,589.87 and a beta of 2.91. The firm has a 50 day moving average of $457.78 and a 200-day moving average of $386.82.

SiTime (NASDAQ:SITM) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.30. SiTime had a positive return on equity of 0.53% and a negative net margin of 6.38%.The business had revenue of $113.57 million during the quarter, compared to analysts’ expectations of $103.51 million. During the same period in the previous year, the company posted $0.26 earnings per share. The firm’s revenue for the quarter was up 88.3% compared to the same quarter last year. As a group, research analysts expect that SiTime Corporation will post 1.31 EPS for the current year.

Insider Buying and Selling at SiTime

In other SiTime news, insider Fariborz Assaderaghi sold 4,984 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $406.45, for a total transaction of $2,025,746.80. Following the completion of the transaction, the insider directly owned 89,194 shares in the company, valued at $36,252,901.30. The trade was a 5.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Piyush B. Sevalia sold 2,419 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $484.05, for a total transaction of $1,170,916.95. Following the transaction, the insider owned 84,250 shares of the company’s stock, valued at approximately $40,781,212.50. This represents a 2.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 10,966 shares of company stock worth $4,641,757 over the last three months. Corporate insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SITM. Rakuten Securities Inc. increased its holdings in shares of SiTime by 188.5% during the fourth quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock worth $26,000 after buying an additional 49 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in shares of SiTime by 190.3% during the third quarter. Hantz Financial Services Inc. now owns 90 shares of the company’s stock worth $27,000 after buying an additional 59 shares in the last quarter. Optiver Holding B.V. increased its holdings in shares of SiTime by 56.1% during the third quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock worth $27,000 after buying an additional 32 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of SiTime by 26.2% during the first quarter. Parallel Advisors LLC now owns 77 shares of the company’s stock worth $27,000 after buying an additional 16 shares in the last quarter. Finally, Larson Financial Group LLC increased its holdings in shares of SiTime by 3,200.0% during the third quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock worth $30,000 after buying an additional 96 shares in the last quarter. 84.31% of the stock is currently owned by institutional investors and hedge funds.

About SiTime

SiTime Corporation is a fabless semiconductor company specializing in silicon timing solutions that leverage micro-electromechanical systems (MEMS) technology as an alternative to traditional quartz crystals. Its portfolio of programmable oscillators, resonators, clock generators, jitter attenuators and network synchronizers addresses precision timekeeping requirements across a wide range of electronic systems. By integrating MEMS resonators with advanced mixed-signal control circuitry, SiTime’s products offer enhanced reliability, resistance to shock and vibration, and a smaller footprint compared with conventional quartz devices.

The company’s timing devices serve diverse end markets, including telecommunications infrastructure, data center and enterprise networking, consumer electronics, automotive systems, industrial automation, and aerospace and defense applications.