SiTime (NASDAQ:SITM) Stock Price Up 19% – What’s Next?

SiTime Co. (NASDAQ:SITM)’s share price rose 19% during trading on Wednesday . The stock traded as high as $138.00 and last traded at $138.96. Approximately 216,045 shares changed hands during mid-day trading, a decline of 9% from the average daily volume of 238,086 shares. The stock had previously closed at $116.79.

Wall Street Analysts Forecast Growth

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

SiTime Stock Up 28.4 %

The business has a 50-day moving average price of $168.54 and a 200-day moving average price of $194.31. The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of -37.01 and a beta of 1.98.

Insider Transactions at SiTime

In other SiTime news, insider Fariborz Assaderaghi sold 1,003 shares of SiTime stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $204.42, for a total transaction of $205,033.26. Following the completion of the sale, the insider now directly owns 99,678 shares in the company, valued at approximately $20,376,176.76. The trade was a 1.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Lionel Bonnot sold 3,501 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $174.25, for a total transaction of $610,049.25. Following the transaction, the insider now directly owns 87,940 shares of the company’s stock, valued at approximately $15,323,545. This trade represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,542 shares of company stock worth $978,713. Company insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On SiTime

A number of institutional investors have recently modified their holdings of the stock. Fourth Dimension Wealth LLC acquired a new stake in shares of SiTime during the 4th quarter worth approximately $25,000. Blue Trust Inc. boosted its holdings in SiTime by 44.7% during the fourth quarter. Blue Trust Inc. now owns 217 shares of the company’s stock worth $47,000 after buying an additional 67 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in SiTime during the fourth quarter valued at $58,000. Smartleaf Asset Management LLC raised its position in shares of SiTime by 278.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the company’s stock worth $60,000 after acquiring an additional 206 shares during the period. Finally, Lazard Asset Management LLC acquired a new position in shares of SiTime in the fourth quarter worth about $81,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.

About SiTime

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.