SiTime (NASDAQ:SITM) Stock Price Up 6% - Still a Buy?

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

Analyst Ratings Changes

Several research firms have recently issued reports on SITM. Stifel Nicolaus upped their price target 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 upped their price target on SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Barclays boosted their price objective on 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 reissued 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. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, SiTime presently has an average rating of "Moderate Buy" and an average target price of $232.00.

SiTime Trading Up 5.4 %

The firm has a market cap of $3.94 billion, a price-to-earnings ratio of -41.24 and a beta of 1.85. The firm has a 50-day moving average of $196.12 and a two-hundred day moving average of $192.36.

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Insider Buying and Selling

In other SiTime news, insider Fariborz Assaderaghi sold 1,003 shares of the company'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 value of $205,033.26. Following the completion of the transaction, the insider now owns 99,678 shares of the company's stock, valued at $20,376,176.76. This represents a 1.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Piyush B. Sevalia sold 1,038 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $157.64, for a total value 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 approximately $14,636,401.08. This trade represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,544 shares of company stock valued at $1,200,095. Insiders own 2.30% of the company's stock.

Hedge Funds Weigh In On SiTime

Several large investors have recently added to or reduced their stakes in SITM. Mutual of America Capital Management LLC lifted 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 buying an additional 48 shares during the period. State of Alaska Department of Revenue lifted its position in shares of SiTime by 0.5% during the 4th quarter. State of Alaska Department of Revenue now owns 10,755 shares of the company's stock worth $2,307,000 after buying an additional 57 shares during the period. 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 worth $47,000 after buying an additional 67 shares during the period. Summit Investment Advisors Inc. lifted its position in shares of SiTime by 4.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,945 shares of the company's stock worth $417,000 after buying an additional 83 shares during the period. Finally, Thrivent Financial for Lutherans lifted its position in shares of SiTime by 0.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 14,714 shares of the company's stock worth $2,524,000 after buying an additional 94 shares during the period. 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.