SiTime (NASDAQ:SITM) Hits New 12-Month Low at $76.69

SiTime Co. (NASDAQ:SITM)’s stock price hit a new 52-week low on Tuesday . The company traded as low as $76.69 and last traded at $77.44, with a volume of 4086 shares traded. The stock had previously closed at $78.51.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SITM. Barclays upped their target price on shares of SiTime from $110.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th. Stifel Nicolaus increased their price objective on shares of SiTime from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, January 2nd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $142.00.

SiTime Price Performance

The company’s 50-day simple moving average is $94.40 and its 200 day simple moving average is $107.18. The firm has a market cap of $1.75 billion, a P/E ratio of -21.25 and a beta of 1.78.

SiTime (NASDAQ:SITM) last released its quarterly earnings data on Tuesday, February 13th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.01). The business had revenue of $42.40 million for the quarter, compared to the consensus estimate of $41.65 million. SiTime had a negative net margin of 55.93% and a negative return on equity of 10.21%. Analysts anticipate that SiTime Co. will post -2.3 EPS for the current fiscal year.

Insider Transactions at SiTime

In other news, insider Fariborz Assaderaghi sold 1,288 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $90.57, for a total value of $116,654.16. Following the completion of the sale, the insider now owns 111,491 shares in the company, valued at approximately $10,097,739.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Rajesh Vashist sold 1,000 shares of the firm’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $125.00, for a total value of $125,000.00. Following the completion of the sale, the chief executive officer now owns 428,655 shares in the company, valued at approximately $53,581,875. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Fariborz Assaderaghi sold 1,288 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $90.57, for a total transaction of $116,654.16. Following the completion of the sale, the insider now owns 111,491 shares of the company’s stock, valued at approximately $10,097,739.87. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,340 shares of company stock worth $455,780. 1.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its stake in SiTime by 7.5% in the 3rd quarter. FMR LLC now owns 3,054,878 shares of the company’s stock worth $349,020,000 after buying an additional 212,615 shares during the period. BlackRock Inc. increased its stake in SiTime by 42.1% in the 2nd quarter. BlackRock Inc. now owns 2,569,540 shares of the company’s stock worth $303,129,000 after buying an additional 761,370 shares during the period. Vanguard Group Inc. increased its stake in SiTime by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 2,117,486 shares of the company’s stock worth $258,503,000 after buying an additional 50,876 shares during the period. State Street Corp increased its stake in SiTime by 14.7% in the 2nd quarter. State Street Corp now owns 974,883 shares of the company’s stock worth $115,007,000 after buying an additional 124,956 shares during the period. Finally, Wasatch Advisors LP increased its stake in SiTime by 2.9% in the 4th quarter. Wasatch Advisors LP now owns 892,102 shares of the company’s stock worth $108,908,000 after buying an additional 25,324 shares during the period. Hedge funds and other institutional investors 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.