Insider Selling: SiTime (NASDAQ:SITM) Director Sells $1,511,055.00 in Stock

SiTime Corporation (NASDAQ:SITM) Director Akira Takata sold 3,500 shares of the firm’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $431.73, for a total value of $1,511,055.00. Following the completion of the sale, the director owned 13,734 shares in the company, valued at approximately $5,929,379.82. This represents a 20.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

SiTime Stock Performance

SITM opened at $423.20 on Friday. SiTime Corporation has a one year low of $105.40 and a one year high of $446.96. The company has a market cap of $11.05 billion, a P/E ratio of -232.53 and a beta of 2.51. The business’s 50-day simple moving average is $367.66 and its 200-day simple moving average is $301.88.

SiTime (NASDAQ:SITM) last announced its quarterly earnings results on Wednesday, February 4th. The company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.33. The firm had revenue of $113.29 million during the quarter, compared to the consensus estimate of $101.91 million. SiTime had a negative return on equity of 2.06% and a negative net margin of 13.13%.During the same period in the prior year, the company posted $0.48 earnings per share. The firm’s quarterly revenue was up 66.3% compared to the same quarter last year. As a group, analysts predict that SiTime Corporation will post -2.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SiTime

Several institutional investors have recently added to or reduced their stakes in SITM. Los Angeles Capital Management LLC grew its stake in shares of SiTime by 0.3% in the 4th quarter. Los Angeles Capital Management LLC now owns 9,023 shares of the company’s stock valued at $3,187,000 after purchasing an additional 25 shares during the last quarter. Optiver Holding B.V. grew its position in 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 buying an additional 32 shares during the last quarter. Atlas Brown Inc. increased its stake in SiTime by 1.6% in the 4th quarter. Atlas Brown Inc. now owns 2,292 shares of the company’s stock valued at $810,000 after buying an additional 37 shares during the period. CWM LLC increased its stake in SiTime by 4.2% in the 4th quarter. CWM LLC now owns 951 shares of the company’s stock valued at $336,000 after buying an additional 38 shares during the period. Finally, Verdence Capital Advisors LLC raised its position in SiTime by 3.7% during the 3rd quarter. Verdence Capital Advisors LLC now owns 1,118 shares of the company’s stock worth $309,000 after buying an additional 40 shares during the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. UBS Group boosted their price target on shares of SiTime from $430.00 to $485.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. The Goldman Sachs Group started coverage on SiTime in a report on Monday, December 15th. They issued a “buy” rating and a $420.00 target price for the company. Roth Mkm restated a “buy” rating and set a $450.00 price target on shares of SiTime in a research note on Thursday, February 5th. Raymond James Financial reaffirmed an “outperform” rating on shares of SiTime in a research report on Tuesday, December 2nd. Finally, Loop Capital began coverage on SiTime in a report on Friday, November 21st. They issued a “buy” rating and a $350.00 price objective for the company. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $409.38.

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.