SiTime (NASDAQ:SITM) Stock Price Down 4% – Time to Sell?

SiTime Co. (NASDAQ:SITM) shares were down 4% during trading on Monday . The stock traded as low as $241.87 and last traded at $242.42. Approximately 29,146 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 204,928 shares. The stock had previously closed at $252.61.

Wall Street Analyst Weigh In

A number of analysts have commented on SITM shares. Roth Mkm upped their price target on SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC upped their price target on shares of SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Stifel Nicolaus raised their price target on shares of SiTime from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, Barclays upped their target price on shares of SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a research note on Friday, November 8th.

SiTime Trading Down 3.4 %

The stock has a market capitalization of $5.70 billion, a price-to-earnings ratio of -61.02 and a beta of 1.86. The firm has a 50-day moving average of $201.30 and a 200-day moving average of $161.14.

SiTime (NASDAQ:SITM) last released its earnings results on Wednesday, November 6th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.14. The firm had revenue of $57.70 million during the quarter, compared to the consensus estimate of $55.10 million. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. The company’s revenue was up 62.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.81) earnings per share. On average, equities research analysts anticipate that SiTime Co. will post -2.98 EPS for the current year.

Insider Activity

In other SiTime news, CEO Rajesh Vashist sold 20,000 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $170.07, for a total value of $3,401,400.00. Following the completion of the transaction, the chief executive officer now owns 424,417 shares in the company, valued at $72,180,599.19. This represents a 4.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Fariborz Assaderaghi sold 363 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $216.25, for a total transaction of $78,498.75. Following the sale, the insider now owns 104,322 shares of the company’s stock, valued at approximately $22,559,632.50. This represents a 0.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,513 shares of company stock valued at $6,708,428. 2.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SiTime

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. LMR Partners LLP boosted its position in SiTime by 705.0% during the third quarter. LMR Partners LLP now owns 80,500 shares of the company’s stock worth $13,807,000 after purchasing an additional 70,500 shares in the last quarter. Public Sector Pension Investment Board raised its stake in shares of SiTime by 8.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 38,743 shares of the company’s stock worth $4,819,000 after buying an additional 2,861 shares during the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of SiTime in the 2nd quarter worth about $16,831,000. Creative Planning purchased a new position in SiTime during the third quarter worth $842,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of SiTime in the 2nd quarter worth $647,000. Institutional investors and hedge funds 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.