SiTime (NASDAQ:SITM) Hits New 12-Month Low at $72.55

SiTime Co. (NASDAQ:SITM) reached a new 52-week low during trading on Monday . The stock traded as low as $72.55 and last traded at $73.08, with a volume of 38061 shares traded. The stock had previously closed at $73.44.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SITM shares. Stifel Nicolaus boosted their price objective on shares of SiTime from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, January 2nd. Barclays boosted 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. 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $142.00.

SiTime Price Performance

The stock’s 50-day moving average price is $90.57 and its 200 day moving average price is $106.04.

SiTime (NASDAQ:SITM) last issued its earnings results on Tuesday, February 13th. The company reported ($0.54) 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 analyst estimates of $41.65 million. SiTime had a negative net margin of 55.93% and a negative return on equity of 10.21%. Sell-side analysts anticipate that SiTime Co. will post -2.3 EPS for the current fiscal year.

Insider Activity at SiTime

In related news, insider Fariborz Assaderaghi sold 1,026 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $92.33, for a total value of $94,730.58. Following the completion of the sale, the insider now owns 90,887 shares of the company’s stock, valued at $8,391,596.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders sold 3,340 shares of company stock valued at $330,780. 2.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On SiTime

Hedge funds have recently modified their holdings of the company. Pineridge Advisors LLC purchased a new position in SiTime during the fourth quarter worth about $25,000. Quadrant Capital Group LLC boosted its stake in shares of 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 purchasing an additional 147 shares during the period. Nemes Rush Group LLC boosted its stake in shares of 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 purchasing an additional 115 shares during the period. Amica Retiree Medical Trust boosted its stake in shares of SiTime by 479.5% in the third quarter. Amica Retiree Medical Trust now owns 649 shares of the company’s stock valued at $74,000 after purchasing an additional 537 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in shares of SiTime by 35.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 689 shares of the company’s stock valued at $84,000 after purchasing an additional 180 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.