SiTime (NASDAQ:SITM) Hits New 1-Year High – Still a Buy?

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Loop Capital assumed coverage on SiTime in a report on Friday, November 21st. They set a “buy” rating and a $350.00 price objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of SiTime in a research report on Wednesday, October 8th. UBS Group raised their price objective on SiTime from $355.00 to $375.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Raymond James Financial reissued an “outperform” rating on shares of SiTime in a research report on Tuesday, December 2nd. Finally, Roth Mkm reaffirmed a “buy” rating and set a $350.00 price target on shares of SiTime in a research report on Thursday, November 6th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $360.63.

SiTime Stock Performance

The stock has a fifty day simple moving average of $338.29 and a two-hundred day simple moving average of $282.85. The stock has a market cap of $9.70 billion, a PE ratio of -125.36 and a beta of 2.49.

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

Insider Transactions at SiTime

In related news, CEO Rajesh Vashist sold 2,000 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $369.20, for a total value of $738,400.00. Following the transaction, the chief executive officer owned 431,609 shares in the company, valued at approximately $159,350,042.80. The trade was a 0.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Samsheer Ahamad sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $291.10, for a total value of $1,164,400.00. Following the sale, the insider owned 51,711 shares of the company’s stock, valued at approximately $15,053,072.10. This trade represents a 7.18% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 21,500 shares of company stock valued at $6,791,710. 2.10% 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 SITM. Optiver Holding B.V. raised its stake in shares of SiTime by 56.1% in the 3rd quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock valued at $27,000 after purchasing an additional 32 shares in the last quarter. Atlas Brown Inc. lifted its holdings in SiTime by 1.6% during the 4th quarter. Atlas Brown Inc. now owns 2,292 shares of the company’s stock worth $810,000 after buying an additional 37 shares during the last quarter. Verdence Capital Advisors LLC grew its position in shares of SiTime by 3.7% in the 3rd quarter. Verdence Capital Advisors LLC now owns 1,118 shares of the company’s stock worth $309,000 after acquiring an additional 40 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of SiTime by 27.4% in the 3rd quarter. Bessemer Group Inc. now owns 186 shares of the company’s stock valued at $55,000 after acquiring an additional 40 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of SiTime by 10.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 427 shares of the company’s stock valued at $125,000 after acquiring an additional 42 shares in the last quarter. 84.31% of the stock is currently owned by institutional investors.

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.