SiTime (NASDAQ:SITM) Sees Unusually-High Trading Volume – Still a Buy?

SiTime Co. (NASDAQ:SITM) saw an uptick in trading volume on Thursday . 310,875 shares changed hands during mid-day trading, an increase of 43% from the previous session’s volume of 217,881 shares.The stock last traded at $203.58 and had previously closed at $182.19.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SITM. Roth Mkm raised their target price on shares of SiTime from $205.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Barclays raised their price objective on shares of SiTime from $130.00 to $160.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. Stifel Nicolaus boosted their target price on SiTime from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Needham & Company LLC lifted their price objective on SiTime from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Finally, Raymond James reissued an “outperform” rating and set a $250.00 price objective (up from $215.00) on shares of SiTime in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $232.00.

SiTime Stock Down 2.8 %

The stock has a market cap of $4.18 billion, a P/E ratio of -43.45 and a beta of 1.85. The business has a 50 day moving average price of $204.07 and a 200 day moving average price of $191.60.

Insiders Place Their Bets

In other news, insider Piyush B. Sevalia sold 1,038 shares of SiTime stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $157.64, for a total transaction of $163,630.32. Following the completion of the sale, the insider now owns 92,847 shares of the company’s stock, valued at approximately $14,636,401.08. The trade was a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Fariborz Assaderaghi sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $249.42, for a total value of $249,420.00. Following the completion of the sale, the insider now owns 101,683 shares of the company’s stock, valued at $25,361,773.86. The trade was a 0.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,108 shares of company stock worth $5,474,335 over the last quarter. Company insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On SiTime

Large investors have recently bought and sold shares of the business. Fourth Dimension Wealth LLC bought a new position in shares of SiTime in the 4th quarter worth $25,000. Blue Trust Inc. boosted its holdings in shares of SiTime by 44.7% in the 4th quarter. Blue Trust Inc. now owns 217 shares of the company’s stock valued at $47,000 after buying an additional 67 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of SiTime in the 4th quarter worth approximately $58,000. Smartleaf Asset Management LLC raised its stake in shares of SiTime by 278.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 280 shares of the company’s stock worth $60,000 after acquiring an additional 206 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in SiTime during the fourth quarter valued at approximately $81,000. 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.