SiTime (NASDAQ:SITM) Trading 6% Higher - Still a Buy?

Shares of SiTime Co. (NASDAQ:SITM - Get Free Report) were up 6% during trading on Wednesday . The company traded as high as $168.08 and last traded at $165.80. Approximately 28,585 shares changed hands during trading, a decline of 87% from the average daily volume of 221,859 shares. The stock had previously closed at $156.40.

Wall Street Analyst Weigh In

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

SiTime Stock Up 5.4 %

The company has a market capitalization of $3.94 billion, a PE ratio of -41.24 and a beta of 1.85. The company's 50 day moving average is $196.12 and its two-hundred day moving average is $192.71.

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Insider Activity at SiTime

In other SiTime news, insider Fariborz Assaderaghi sold 1,002 shares of SiTime stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $220.94, for a total value of $221,381.88. Following the completion of the transaction, the insider now directly owns 100,681 shares of the company's stock, valued at $22,244,460.14. This trade represents a 0.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 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 completion of the transaction, the insider now directly owns 92,847 shares of the company's stock, valued at $14,636,401.08. The trade was a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,544 shares of company stock valued at $1,200,095. Corporate insiders own 2.30% of the company's stock.

Hedge Funds Weigh In On SiTime

Institutional investors and hedge funds have recently made changes to their positions in the business. Fourth Dimension Wealth LLC purchased a new position in shares of SiTime in the 4th quarter worth $25,000. Blue Trust Inc. boosted its stake in shares of SiTime by 44.7% during the 4th quarter. Blue Trust Inc. now owns 217 shares of the company's stock worth $47,000 after purchasing an additional 67 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in shares of SiTime during the 4th quarter worth about $58,000. Smartleaf Asset Management LLC boosted its stake in shares of SiTime by 278.4% during the 4th 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 position in shares of SiTime during the 4th quarter worth about $81,000. 84.31% of the stock is owned by hedge funds and other institutional investors.

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.