SiTime (NASDAQ:SITM) Hits New 52-Week High – Should You Buy?

Shares of SiTime Co. (NASDAQ:SITM) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $185.00 and last traded at $185.00, with a volume of 7508 shares traded. The stock had previously closed at $181.00.

Wall Street Analysts Forecast Growth

SITM has been the subject of a number of research reports. Barclays lowered SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 price target for the company. in a research note on Tuesday, August 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $130.00 price target on shares of SiTime in a research note on Tuesday, June 25th. Finally, Stifel Nicolaus lifted their price objective on shares of SiTime from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th.

SiTime Trading Up 3.5 %

The stock has a market cap of $4.33 billion, a P/E ratio of -45.31 and a beta of 1.82. The company has a 50-day moving average price of $147.91 and a two-hundred day moving average price of $126.92.

SiTime (NASDAQ:SITM) last announced its earnings results on Wednesday, August 7th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.08. SiTime had a negative net margin of 60.46% and a negative return on equity of 10.53%. The business had revenue of $43.90 million for the quarter, compared to the consensus estimate of $41.01 million. During the same quarter in the prior year, the firm posted ($1.17) earnings per share. The business’s revenue for the quarter was up 58.5% on a year-over-year basis. As a group, equities analysts forecast that SiTime Co. will post -3.03 earnings per share for the current fiscal year.

Insider Activity

In other SiTime news, insider Piyush B. Sevalia sold 1,338 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $180.00, for a total value of $240,840.00. Following the sale, the insider now owns 86,196 shares in the company, valued at $15,515,280. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other SiTime news, insider Fariborz Assaderaghi sold 1,003 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $165.13, for a total value of $165,625.39. Following the completion of the sale, the insider now directly owns 110,578 shares in the company, valued at approximately $18,259,745.14. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Piyush B. Sevalia sold 1,338 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $180.00, for a total value of $240,840.00. Following the transaction, the insider now owns 86,196 shares in the company, valued at approximately $15,515,280. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,547 shares of company stock valued at $5,361,178. 2.30% of the stock is currently owned by insiders.

Institutional Trading of SiTime

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its holdings in shares of SiTime by 95.0% in the 3rd quarter. GAMMA Investing LLC now owns 743 shares of the company’s stock valued at $127,000 after purchasing an additional 362 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in SiTime by 17.7% during the third quarter. Handelsbanken Fonder AB now owns 5,984 shares of the company’s stock valued at $1,026,000 after buying an additional 900 shares during the period. Quent Capital LLC bought a new position in SiTime in the third quarter worth approximately $528,000. SG Americas Securities LLC purchased a new stake in SiTime during the third quarter worth $878,000. Finally, Algert Global LLC purchased a new stake in SiTime during the second quarter worth $2,380,000. 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.