Sitime Corp (NASDAQ:SITM) Short Interest Update

Sitime Corp (NASDAQ:SITM) was the target of a large increase in short interest during the month of March. As of March 13th, there was short interest totalling 126,100 shares, an increase of 1,200.0% from the February 27th total of 9,700 shares. Currently, 4.2% of the shares of the company are short sold. Based on an average daily volume of 81,600 shares, the short-interest ratio is presently 1.5 days.

A number of hedge funds and other institutional investors have recently made changes to their positions in SITM. Russell Investments Group Ltd. acquired a new position in Sitime in the 4th quarter valued at $5,584,000. Emerald Mutual Fund Advisers Trust acquired a new position in Sitime in the 4th quarter valued at $4,463,000. Principal Financial Group Inc. acquired a new position in Sitime in the 4th quarter valued at $8,288,000. Boston Partners acquired a new position in Sitime in the 4th quarter valued at $1,157,000. Finally, PNC Financial Services Group Inc. acquired a new position in Sitime in the 4th quarter valued at $238,000. 31.23% of the stock is owned by hedge funds and other institutional investors.

NASDAQ SITM traded down $0.74 during midday trading on Thursday, hitting $21.55. The company had a trading volume of 95,100 shares, compared to its average volume of 115,019. The stock has a market cap of $330.57 million and a P/E ratio of -34.21. The business has a 50-day moving average of $25.36. Sitime has a twelve month low of $15.42 and a twelve month high of $36.46.

Sitime (NASDAQ:SITM) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.08. The company had revenue of $28.09 million during the quarter, compared to analyst estimates of $26.10 million. Equities research analysts anticipate that Sitime will post 0.18 EPS for the current fiscal year.

SITM has been the subject of several research reports. Raymond James lifted their price target on Sitime from $24.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. They noted that the move was a valuation call. Roth Capital lifted their price target on Sitime from $25.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Needham & Company LLC lifted their price target on Sitime from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Stifel Nicolaus initiated coverage on Sitime in a report on Monday, December 16th. They set a “buy” rating and a $23.00 price target for the company. Finally, Barclays initiated coverage on Sitime in a report on Monday, December 16th. They set an “overweight” rating and a $25.00 price target for the company. Five analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average target price of $30.20.

Sitime Company Profile

There is no company description available for SiTime Corp.

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