SiTime Co. (NASDAQ:SITM - Get Free Report) shot up 19% during mid-day trading on Wednesday . The company traded as high as $138.00 and last traded at $138.96. 216,045 shares changed hands during mid-day trading, a decline of 9% from the average session volume of 238,086 shares. The stock had previously closed at $116.79.
Analyst Ratings Changes
A number of equities analysts have recently commented on SITM shares. Needham & Company LLC lifted 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. Raymond James reaffirmed an "outperform" rating and set a $250.00 price objective (up previously from $215.00) on shares of SiTime in a research report on Thursday, February 6th. Stifel Nicolaus raised their target price on SiTime from $250.00 to $270.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Finally, Barclays boosted their price target on shares of SiTime from $130.00 to $160.00 and gave the company an "underweight" rating in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $232.00.
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SiTime Price Performance
The firm has a market capitalization of $3.24 billion, a PE ratio of -33.89 and a beta of 1.98. The firm's fifty day moving average is $163.19 and its two-hundred day moving average is $193.53.
Insider Activity at SiTime
In other SiTime news, insider Piyush B. Sevalia sold 1,038 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $157.64, for a total transaction of $163,630.32. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Fariborz Assaderaghi sold 1,003 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $204.42, for a total transaction of $205,033.26. Following the completion of the transaction, the insider now directly owns 99,678 shares of the company's stock, valued at approximately $20,376,176.76. This trade represents a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,542 shares of company stock valued at $978,713. 2.30% of the stock is owned by insiders.
Institutional Trading of SiTime
A number of hedge funds and other institutional investors have recently made changes to their positions in SITM. Fourth Dimension Wealth LLC bought a new stake in SiTime during the fourth quarter valued at $25,000. Blue Trust Inc. boosted its stake in shares of SiTime by 44.7% during the fourth quarter. Blue Trust Inc. now owns 217 shares of the company's stock valued at $47,000 after purchasing an additional 67 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in SiTime during the 4th quarter valued at $58,000. Smartleaf Asset Management LLC boosted its holdings in shares of 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 purchasing an additional 206 shares during the period. Finally, Lazard Asset Management LLC purchased a new stake in SiTime in the 4th quarter worth approximately $81,000. 84.31% of the stock is currently owned by institutional investors.
SiTime Company Profile
(
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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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