SiTime (NASDAQ:SITM) Hits New 1-Year High – Should You Buy?

SiTime Corporation (NASDAQ:SITM) shares reached a new 52-week high on Monday . The stock traded as high as $515.40 and last traded at $515.1150, with a volume of 25839 shares traded. The stock had previously closed at $503.63.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Roth Mkm reaffirmed a “buy” rating and issued a $450.00 target price on shares of SiTime in a report on Thursday, February 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiTime in a report on Thursday, January 22nd. UBS Group upped their target price on shares of SiTime from $430.00 to $485.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Stifel Nicolaus upped their target price on shares of SiTime from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Finally, Needham & Company LLC upped their target price on shares of SiTime from $400.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, SiTime has an average rating of “Moderate Buy” and an average target price of $415.63.

SiTime Trading Down 0.9%

The business’s fifty day simple moving average is $388.69 and its 200 day simple moving average is $350.43. The stock has a market cap of $13.82 billion, a P/E ratio of -287.68 and a beta of 2.57.

SiTime (NASDAQ:SITM) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.33. SiTime had a negative net margin of 13.13% and a negative return on equity of 2.06%. The firm had revenue of $113.29 million for the quarter, compared to analyst estimates of $101.91 million. During the same quarter in the prior year, the firm earned $0.48 EPS. The company’s revenue was up 66.3% on a year-over-year basis. On average, analysts predict that SiTime Corporation will post 1.31 earnings per share for the current fiscal year.

Insider Activity

In other SiTime news, insider Piyush B. Sevalia sold 2,419 shares of the stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $484.05, for a total transaction of $1,170,916.95. Following the sale, the insider owned 84,250 shares of the company’s stock, valued at $40,781,212.50. This represents a 2.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Samsheer Ahamad sold 9,100 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $441.47, for a total transaction of $4,017,377.00. Following the transaction, the insider owned 52,938 shares in the company, valued at approximately $23,370,538.86. The trade was a 14.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 26,178 shares of company stock worth $11,282,324. 2.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in SiTime by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 2,825,402 shares of the company’s stock valued at $997,904,000 after purchasing an additional 61,336 shares during the period. Invesco Ltd. lifted its position in 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 purchasing an additional 18,165 shares during the period. State Street Corp lifted its position in SiTime by 3.7% during the 2nd quarter. State Street Corp now owns 911,280 shares of the company’s stock valued at $194,176,000 after purchasing an additional 32,178 shares during the period. Ameriprise Financial Inc. lifted its position in SiTime by 22.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 736,281 shares of the company’s stock valued at $156,887,000 after purchasing an additional 132,948 shares during the period. Finally, Whale Rock Capital Management LLC lifted its position in SiTime by 45.4% during the 4th quarter. Whale Rock Capital Management LLC now owns 698,539 shares of the company’s stock valued at $246,717,000 after purchasing an additional 218,038 shares during the period. 84.31% of the stock is currently owned by institutional investors and hedge funds.

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.