SiTime (NASDAQ:SITM) Hits New 52-Week Low at $76.69

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

Analyst Upgrades and Downgrades

SITM has been the topic of several recent analyst reports. Stifel Nicolaus boosted their target price on shares of SiTime from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, January 2nd. Barclays boosted their price target on shares of SiTime from $110.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, January 16th. Two 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 company currently has an average rating of “Moderate Buy” and a consensus target price of $142.00.

SiTime Price Performance

The stock has a market capitalization of $1.78 billion, a P/E ratio of -21.63 and a beta of 1.78. The stock’s fifty day moving average is $95.62 and its 200-day moving average is $107.65.

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

Insider Activity

In related news, CEO Rajesh Vashist sold 1,000 shares of the 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 transaction, the chief executive officer now owns 428,655 shares of the company’s stock, valued at $53,581,875. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other SiTime news, CEO Rajesh Vashist sold 1,000 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $125.00, for a total transaction of $125,000.00. Following the sale, the chief executive officer now directly owns 428,655 shares of the company’s stock, valued at $53,581,875. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Fariborz Assaderaghi sold 1,288 shares of the company’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 sale, the insider now directly owns 111,491 shares in the company, valued at $10,097,739.87. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,340 shares of company stock valued at $455,780. Insiders own 1.60% of the company’s stock.

Institutional Trading of SiTime

Hedge funds have recently modified their holdings of the stock. Pineridge Advisors LLC bought a new stake in shares of SiTime during the fourth quarter valued at approximately $25,000. Parkside Financial Bank & Trust boosted its stake in SiTime by 99.3% in the second quarter. Parkside Financial Bank & Trust now owns 305 shares of the company’s stock valued at $36,000 after acquiring an additional 152 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in SiTime by 78.2% in the fourth quarter. Quadrant Capital Group LLC now owns 335 shares of the company’s stock valued at $41,000 after acquiring an additional 147 shares during the last quarter. Macquarie Group Ltd. bought a new position in SiTime in the first quarter valued at approximately $50,000. Finally, Nemes Rush Group LLC boosted its stake in SiTime by 26.9% in the fourth quarter. Nemes Rush Group LLC now owns 542 shares of the company’s stock valued at $66,000 after acquiring an additional 115 shares during the last quarter. 84.31% of the stock is owned by institutional investors.

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.