Shares of SiTime Co. (NASDAQ:SITM - Get Free Report) were down 14.9% during mid-day trading on Thursday . The stock traded as low as $140.49 and last traded at $134.66. Approximately 25,667 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 233,159 shares. The stock had previously closed at $158.26.
Wall Street Analysts Forecast Growth
SITM has been the topic of a number of recent research reports. Stifel Nicolaus raised their price objective on SiTime from $250.00 to $270.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Needham & Company LLC raised their price objective on SiTime from $225.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Barclays upped their price objective on shares of SiTime from $130.00 to $160.00 and gave the stock an "underweight" rating in a research report on Friday, January 17th. Finally, 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 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $232.00.
View Our Latest Stock Analysis on SiTime
SiTime Trading Down 4.9 %
The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of -28.84 and a beta of 1.98. The firm's 50-day moving average is $171.69 and its 200 day moving average is $195.19.
Insider Transactions at SiTime
In other news, insider Fariborz Assaderaghi sold 1,003 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $204.42, for a total transaction of $205,033.26. Following the completion of the sale, the insider now directly owns 99,678 shares in the company, valued at $20,376,176.76. This represents a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Piyush B. Sevalia sold 1,038 shares of SiTime stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $157.64, for a total transaction of $163,630.32. Following the transaction, the insider now directly owns 92,847 shares of the company's stock, valued at $14,636,401.08. This represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,542 shares of company stock worth $978,713. Company insiders own 2.30% of the company's stock.
Institutional Investors Weigh In On SiTime
Institutional investors and hedge funds have recently made changes to their positions in the business. Fourth Dimension Wealth LLC acquired a new position in SiTime in the fourth quarter valued at approximately $25,000. Blue Trust Inc. lifted its position in shares of SiTime by 44.7% during the 4th quarter. Blue Trust Inc. now owns 217 shares of the company's stock valued at $47,000 after acquiring an additional 67 shares during the period. Aster Capital Management DIFC Ltd bought a new position in SiTime during the fourth quarter worth $58,000. Smartleaf Asset Management LLC boosted its stake in SiTime by 278.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company's stock worth $60,000 after acquiring an additional 206 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in SiTime in the fourth quarter valued at $81,000. Institutional investors own 84.31% of the company's stock.
About SiTime
(
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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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