SiTime (NASDAQ:SITM) Sees Large Volume Increase - What's Next?

SiTime Co. (NASDAQ:SITM - Get Free Report) saw an uptick in trading volume on Thursday . 365,579 shares traded hands 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 analysts recently issued reports on SITM shares. Raymond James restated an "outperform" rating and issued a $250.00 target price (up previously from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Barclays increased their price objective on SiTime from $130.00 to $160.00 and gave the company an "underweight" rating in a report on Friday, January 17th. Stifel Nicolaus lifted their target price on SiTime from $250.00 to $270.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Finally, Needham & Company LLC increased their price target on shares of SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, SiTime has an average rating of "Moderate Buy" and a consensus target price of $232.00.

SiTime Price Performance

The firm has a fifty day moving average of $198.77 and a 200 day moving average of $192.44. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of -38.97 and a beta of 1.85.

Insider Transactions at SiTime

In other news, insider Fariborz Assaderaghi sold 1,002 shares of the firm's stock in a transaction dated 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 directly owns 100,681 shares in the company, valued at $22,244,460.14. This trade represents a 0.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Piyush B. Sevalia sold 1,038 shares of the 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 transaction, the insider now owns 92,847 shares in the company, valued at $14,636,401.08. This represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,544 shares of company stock valued at $1,200,095 in the last 90 days. 2.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SiTime

A number of large investors have recently added to or reduced their stakes in SITM. Mutual of America Capital Management LLC raised its position in shares of SiTime by 1.7% during the 4th quarter. Mutual of America Capital Management LLC now owns 2,866 shares of the company's stock worth $615,000 after purchasing an additional 48 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of SiTime by 0.5% in the fourth quarter. State of Alaska Department of Revenue now owns 10,755 shares of the company's stock valued at $2,307,000 after acquiring an additional 57 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of SiTime by 44.7% in the fourth quarter. Blue Trust Inc. now owns 217 shares of the company's stock worth $47,000 after acquiring an additional 67 shares during the last quarter. Summit Investment Advisors Inc. increased its position in shares of SiTime by 4.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,945 shares of the company's stock worth $417,000 after purchasing an additional 83 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in SiTime by 0.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 14,714 shares of the company's stock valued at $2,524,000 after purchasing an additional 94 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.

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