SiTime (NASDAQ:SITM) Insider Sells $233,803.28 in Stock

SiTime Corporation (NASDAQ:SITM) insider Piyush Sevalia sold 566 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $413.08, for a total transaction of $233,803.28. Following the completion of the transaction, the insider owned 93,489 shares of the company’s stock, valued at approximately $38,618,436.12. This represents a 0.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

SiTime Stock Performance

SITM opened at $406.97 on Friday. The company has a fifty day moving average of $372.94 and a two-hundred day moving average of $311.62. The stock has a market capitalization of $10.70 billion, a price-to-earnings ratio of -223.61 and a beta of 2.51. SiTime Corporation has a fifty-two week low of $105.40 and a fifty-two week high of $446.95.

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

Institutional Investors Weigh In On SiTime

A number of hedge funds have recently modified their holdings of SITM. Rakuten Securities Inc. boosted its position in SiTime by 188.5% during the fourth quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock worth $26,000 after acquiring an additional 49 shares during the last quarter. Optiver Holding B.V. lifted its stake in SiTime by 56.1% in the 3rd quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock worth $27,000 after purchasing an additional 32 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in shares of SiTime by 190.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 90 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of SiTime in the fourth quarter valued at approximately $33,000. Finally, Larson Financial Group LLC increased its holdings in shares of SiTime by 3,200.0% in the third quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock valued at $30,000 after purchasing an additional 96 shares during the last quarter. 84.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Needham & Company LLC increased their target price on SiTime from $400.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiTime in a report on Thursday, January 22nd. Roth Mkm reiterated a “buy” rating and issued a $450.00 target price on shares of SiTime in a research report on Thursday, February 5th. UBS Group upped their price target on shares of SiTime from $430.00 to $485.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Finally, The Goldman Sachs Group initiated coverage on shares of SiTime in a research note on Monday, December 15th. They issued a “buy” rating and a $420.00 price target on the stock. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $409.38.

About SiTime

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.