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

SiTime Co. (NASDAQ:SITM)’s stock price hit a new 52-week low on Monday . The company 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.

Wall Street Analyst Weigh In

SITM has been the subject of a number of analyst reports. Barclays increased their price target on SiTime from $110.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 16th. Stifel Nicolaus increased their price target on SiTime from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, January 2nd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, SiTime has a consensus rating of “Moderate Buy” and a consensus target price of $142.00.

SiTime Stock Performance

The firm has a 50 day moving average price of $90.57 and a two-hundred day moving average price of $106.04.

SiTime (NASDAQ:SITM) last posted its quarterly earnings results on Tuesday, February 13th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.01). The firm had revenue of $42.40 million for 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 forecast that SiTime Co. will post -2.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SiTime news, insider Fariborz Assaderaghi sold 1,288 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $90.57, for a total value of $116,654.16. Following the completion of the transaction, the insider now owns 111,491 shares in the company, valued at approximately $10,097,739.87. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 3,340 shares of company stock worth $330,780 in the last quarter. 2.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SITM. Vanguard Group Inc. boosted its position in shares of SiTime by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 2,066,610 shares of the company’s stock valued at $236,110,000 after acquiring an additional 58,629 shares during the last quarter. Principal Financial Group Inc. increased its position in SiTime by 4.7% during the third quarter. Principal Financial Group Inc. now owns 358,017 shares of the company’s stock valued at $40,903,000 after acquiring an additional 16,092 shares during the last quarter. Amica Mutual Insurance Co. increased its position in SiTime by 478.9% during the third quarter. Amica Mutual Insurance Co. now owns 5,175 shares of the company’s stock valued at $591,000 after acquiring an additional 4,281 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in SiTime by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 132,745 shares of the company’s stock valued at $15,166,000 after acquiring an additional 7,049 shares during the last quarter. Finally, HighTower Advisors LLC increased its position in SiTime by 243.2% during the third quarter. HighTower Advisors LLC now owns 10,924 shares of the company’s stock valued at $1,248,000 after acquiring an additional 7,741 shares during the last quarter. 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.