SiTime (NASDAQ:SITM) Sees Strong Trading Volume - What's Next?

SiTime Co. (NASDAQ:SITM - Get Free Report) saw strong trading volume on Thursday . 310,875 shares changed hands during trading, an increase of 43% from the previous session's volume of 217,881 shares.The stock last traded at $203.58 and had previously closed at $182.19.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Raymond James reaffirmed an "outperform" rating and set a $250.00 target price (up from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Needham & Company LLC lifted their price target on shares of SiTime from $225.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Barclays lifted their price target on shares of SiTime from $130.00 to $160.00 and gave the company an "underweight" rating in a research report on Friday, January 17th. Finally, Stifel Nicolaus lifted their price target on shares of SiTime from $250.00 to $270.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $232.00.

SiTime Stock Down 14.0 %

The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of -37.11 and a beta of 1.85. The business's 50-day simple moving average is $200.89 and its two-hundred day simple moving average is $192.55.

Remove Ads

Insider Activity at SiTime

In related news, insider Lionel Bonnot sold 3,501 shares of SiTime stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $174.25, for a total value of $610,049.25. Following the completion of the transaction, the insider now owns 87,940 shares in the company, valued at approximately $15,323,545. The trade was a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Rajesh Vashist sold 12,000 shares of SiTime stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $259.25, for a total transaction of $3,111,000.00. Following the completion of the transaction, the chief executive officer now owns 24,781 shares of the company's stock, valued at $6,424,474.25. This trade represents a 32.63 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,108 shares of company stock worth $5,474,335. Corporate insiders own 2.30% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC grew its holdings in SiTime by 80.7% during the 3rd quarter. Barclays PLC now owns 37,982 shares of the company's stock worth $6,515,000 after acquiring an additional 16,964 shares in the last quarter. LMR Partners LLP grew its holdings in SiTime by 705.0% during the 3rd quarter. LMR Partners LLP now owns 80,500 shares of the company's stock worth $13,807,000 after acquiring an additional 70,500 shares in the last quarter. Baader Bank Aktiengesellschaft acquired a new position in SiTime during the 4th quarter worth approximately $538,000. FMR LLC grew its holdings in SiTime by 1.1% during the 3rd quarter. FMR LLC now owns 3,469,843 shares of the company's stock worth $595,113,000 after acquiring an additional 39,119 shares in the last quarter. Finally, Swedbank AB grew its holdings in SiTime by 21.7% during the 3rd quarter. Swedbank AB now owns 28,000 shares of the company's stock worth $4,802,000 after acquiring an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 84.31% of the company's stock.

SiTime Company Profile

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.