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SiTime (SITM) Looks Good: Stock Adds 9.2% in Session
SiTime Corporation (SITM - Free Report) was a big mover last session, as the company saw its shares rise more than 9% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company—as the stock is now up 41.9% in the past one-month time frame.
The upmove came after the company announced the pricing of its public offering of 3,500,000 shares of its common stock at a price of $32 per share. Notably, shares were priced at a discount of 2.3% compared with prior trading day’s close price.
The company has seen no changes when it comes to estimate revision over the past few weeks, while the Zacks Consensus Estimate for the current quarter has also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
SiTime currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
SiTime Corporation Price
SiTime Corporation price | SiTime Corporation Quote
A better-ranked stock in the same sector is Kopin Corporation (KOPN - Free Report) , holding a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
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