Fidelity Management & Research Co has recently announced that it has increased stake in SiTime Corporation (NASDAQ:SITM) by 6.56%. After grabbing 2.32 million shares, the institutional investor is now in possession of 0.14 million shares of the Technology Company. The new investment brought the stake of investor firm to 10.83% having worth around $244.75 million. Moreover, BlackRock Fund Advisors increased its share by 24138.0 to have a control over 1.58 million shares. And Franklin Advisers, Inc. raised its holdings to 77733.0 shares by acquiring 1.55 million shares or 7.24% of the stake.
SiTime Corporation (SITM) concluded trading on 01/11/23 at a closing price of $104.67, with 0.42 million shares of worth about $43.5 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -29.97% during that period and on Wednesday the price saw a loss of about -4.50%. Currently the company’s common shares owned by public are about 21.35M shares, out of which, 16.18M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 7 analysts are covering the SITM stock and their offered price forecasts bring an average price target of $118.50. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $135.00 and could fall to a lowest price of $96.00. The stock’s current price level is 11.67% above of average price target set by the analysts, while a rise to estimated low would result in loss of -9.03% for the stock. However, touching the estimated high of $135.00 would mean a gain of 22.47% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 108 times over the past 12 months. They bought 250,346 shares in 27 of the transactions. In 81 selling transactions, insiders dumped 264,860 shares.
FTIF SICAV – Technology Fund, iShares Core S&P Mid Cap ETF, and Fidelity Growth Company Fund are the top 3 mutual funds which are holding stakes in SiTime Corporation FTIF SICAV – Technology Fund is currently holding 0.51 million shares of worth totaling $53.63 million. The company recently came buying 78400.0 shares which brought its stake up to 2.37% of the company’s outstanding shares. iShares Core S&P Mid Cap ETF sold 93.0 shares, after which its hold over company’s outstanding shares shrunk to 2.26%, leaving 0.48 million shares with the mutual fund that have a worth of about $51.14 million. Fidelity Growth Company Fund, after selling 0.45 million shares, have now control over 2.12% of the stake in the company. It holds 2407.0 shares of worth $47.91 million.
SiTime Corporation (NASDAQ: SITM) started trading at $109.10, below -$0.5 from concluding price of the previous day. However, the stock later moved at a day high price of 109.10, or with a loss of -4.50%. Stock saw a price change of 6.07% in past 5 days and over the past one month there was a price change of 2.84%. Year-to-date (YTD), SITM shares are showing a performance of 3.00% which decreased to -56.31% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $73.10 but also hit the highest price of $270.92 during that period. The average intraday trading volume for SiTime Corporation shares is 295.60K. The stock is currently trading 1.66% above its 20-day simple moving average (SMA20), while that difference is up 4.31% for SMA50 and it goes to -24.74% lower than SMA200.
Fidelity Management & Research Co acquired 2.32 million shares of SiTime Corporation having value of about $244.75 million. Data submitted at the U.S SEC by Fidelity Management & Research Co revealed that the firm now holds 0.14 million shares in the company valued at close to $14957238.33, or have control over 6.56% stake in the company. SiTime Corporation (NASDAQ: SITM) currently have 21.35M outstanding shares and institutions hold larger chunk of about 77.40% of that. Holding of mutual funds in the company is about 32.32% while other institutional holders and individual stake holders have control over 46.29% and 3.15% of the stake respectively.
The stock has a current market capitalization of $2.10B. PE ratio of stock for trailing 12 months is 52.76, while it has posted earnings per share of $1.98 in the same period. Its PEG reads 7.65 and has Quick Ratio of 17.60 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SITM, volatility over the week remained 6.97% while standing at 5.55% over the month.
Analysts are in expectations that SiTime Corporation (SITM) stock would likely to be making an EPS of $0.85 in the current quarter, while forecast for next quarter EPS is $0.79 and it is $3.79 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.83 which is $0.85 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.03 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 361.70% while it is estimated to decrease by -45.99% in next year.
Analysts at 7 brokerage firms have issued recommendations for the SiTime Corporation (SITM)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.70. Out of those 7 Wall Street analysts, 5 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Credit Suisse on November 16, 2022 offering an Outperform rating for the stock and assigned a target price of $135 to it. Coverage by Needham stated SiTime Corporation (SITM) stock as a Buy in their note to investors on October 11, 2022, suggesting a price target of $125 for the stock. Stock get a Buy rating from Needham on April 15, 2020.