SiTime (NASDAQ:SITM) Shares Down 8% – Should You Sell?

SiTime Corporation (NASDAQ:SITM) traded down 8% on Monday . The stock traded as low as $343.85 and last traded at $340.2620. 127,980 shares were traded during trading, a decline of 39% from the average session volume of 210,360 shares. The stock had previously closed at $369.96.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Stifel Nicolaus set a $360.00 price objective on shares of SiTime in a research note on Thursday, November 6th. UBS Group boosted their target price on shares of SiTime from $355.00 to $375.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Loop Capital started coverage on shares of SiTime in a research report on Friday, November 21st. They set a “buy” rating and a $350.00 price target for the company. Needham & Company LLC lifted their price target on shares of SiTime from $250.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Finally, Roth Capital reissued a “buy” rating and set a $350.00 price objective on shares of SiTime in a research note on Thursday, November 6th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $343.13.

SiTime Stock Down 0.6%

The stock has a market cap of $8.95 billion, a PE ratio of -115.79 and a beta of 2.49. The company’s fifty day moving average is $327.44 and its 200 day moving average is $273.03.

SiTime (NASDAQ:SITM) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.16. The company had revenue of $83.57 million during the quarter, compared to analyst estimates of $78.08 million. SiTime had a negative net margin of 25.18% and a negative return on equity of 5.69%. The business’s quarterly revenue was up 44.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.40 earnings per share. Equities analysts expect that SiTime Corporation will post -2.44 EPS for the current year.

Insider Buying and Selling at SiTime

In related news, insider Samsheer Ahamad sold 4,000 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $291.10, for a total transaction of $1,164,400.00. Following the sale, the insider directly owned 51,711 shares in the company, valued at approximately $15,053,072.10. This trade represents a 7.18% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Fariborz Assaderaghi sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $291.58, for a total value of $437,370.00. Following the transaction, the insider directly owned 84,815 shares in the company, valued at $24,730,357.70. This trade represents a 1.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 21,500 shares of company stock valued at $6,791,710 over the last three months. 2.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in SiTime by 4.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,764,066 shares of the company’s stock valued at $832,841,000 after purchasing an additional 123,287 shares in the last quarter. Invesco Ltd. boosted its stake in shares of SiTime by 1.8% during the 3rd quarter. Invesco Ltd. now owns 1,037,305 shares of the company’s stock valued at $312,550,000 after buying an additional 18,165 shares during the last quarter. State Street Corp grew its position in shares of SiTime by 3.7% during the second quarter. State Street Corp now owns 911,280 shares of the company’s stock worth $194,176,000 after buying an additional 32,178 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of SiTime by 22.0% during the second quarter. Ameriprise Financial Inc. now owns 736,281 shares of the company’s stock worth $156,887,000 after buying an additional 132,948 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of SiTime by 36.8% in the third quarter. Wellington Management Group LLP now owns 537,741 shares of the company’s stock worth $162,027,000 after buying an additional 144,671 shares during the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.

SiTime Company Profile

SiTime Corporation is a fabless semiconductor company specializing in silicon timing solutions that leverage micro-electromechanical systems (MEMS) technology as an alternative to traditional quartz crystals. Its portfolio of programmable oscillators, resonators, clock generators, jitter attenuators and network synchronizers addresses precision timekeeping requirements across a wide range of electronic systems. By integrating MEMS resonators with advanced mixed-signal control circuitry, SiTime’s products offer enhanced reliability, resistance to shock and vibration, and a smaller footprint compared with conventional quartz devices.

The company’s timing devices serve diverse end markets, including telecommunications infrastructure, data center and enterprise networking, consumer electronics, automotive systems, industrial automation, and aerospace and defense applications.