SiTime (NASDAQ:SITM) Reaches New 52-Week High – What’s Next?

SiTime Corporation (NASDAQ:SITM)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $393.80 and last traded at $377.8320, with a volume of 36818 shares traded. The stock had previously closed at $377.71.

Analyst Ratings Changes

SITM has been the topic of a number of recent research reports. UBS Group raised their price target on shares of SiTime from $355.00 to $375.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Barclays set a $360.00 target price on SiTime and gave the company an “equal weight” rating in a report on Thursday, January 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of SiTime in a research report on Wednesday, October 8th. Roth Mkm restated a “buy” rating and set a $350.00 price objective on shares of SiTime in a research report on Thursday, November 6th. Finally, The Goldman Sachs Group started coverage on SiTime in a research note on Monday, December 15th. They set a “buy” rating and a $420.00 price objective for the company. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, SiTime presently has an average rating of “Moderate Buy” and a consensus price target of $360.63.

SiTime Stock Down 1.6%

The company has a 50 day moving average of $338.29 and a two-hundred day moving average of $282.85. The firm has a market cap of $9.70 billion, a P/E ratio of -125.36 and a beta of 2.49.

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

Insiders Place Their Bets

In other SiTime news, CEO Rajesh Vashist sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $369.20, for a total value of $738,400.00. Following the sale, the chief executive officer owned 431,609 shares of the company’s stock, valued at $159,350,042.80. This trade represents a 0.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Samsheer Ahamad sold 4,000 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $291.10, for a total transaction of $1,164,400.00. Following the transaction, the insider directly owned 51,711 shares of the company’s stock, valued at $15,053,072.10. This represents a 7.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 21,500 shares of company stock valued at $6,791,710 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Game Plan Financial Advisors LLC acquired a new position in shares of SiTime in the second quarter valued at approximately $25,000. Hantz Financial Services Inc. grew its stake in shares of SiTime by 190.3% in the third quarter. Hantz Financial Services Inc. now owns 90 shares of the company’s stock valued at $27,000 after buying an additional 59 shares in the last quarter. Optiver Holding B.V. increased its stake in shares of SiTime by 56.1% during the 3rd quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock worth $27,000 after purchasing an additional 32 shares during the last quarter. Larson Financial Group LLC raised its stake in SiTime by 3,200.0% in the third quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock valued at $30,000 after buying an additional 96 shares during the period. Finally, Bernard Wealth Management Corp. acquired a new stake in SiTime during the 4th quarter valued at $41,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.

About SiTime

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.