Piyush Sevalia Sells 1,249 Shares of SiTime (NASDAQ:SITM) Stock

SiTime Corporation (NASDAQ:SITM) insider Piyush Sevalia sold 1,249 shares of the company’s stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $375.00, for a total value of $468,375.00. Following the completion of the sale, the insider owned 87,916 shares in the company, valued at $32,968,500. This represents a 1.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

SiTime Trading Down 2.2%

SiTime stock opened at $327.20 on Friday. The stock has a 50-day moving average price of $374.88 and a 200 day moving average price of $334.73. SiTime Corporation has a 52 week low of $105.40 and a 52 week high of $446.95. The stock has a market cap of $8.61 billion, a PE ratio of -179.78 and a beta of 2.53.

SiTime (NASDAQ:SITM) last released its 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. SiTime had a negative net margin of 13.13% and a negative return on equity of 2.06%. The company had revenue of $113.29 million for the quarter, compared to analyst estimates of $101.91 million. During the same period in the prior year, the firm earned $0.48 EPS. The firm’s quarterly revenue was up 66.3% on a year-over-year basis. On average, equities analysts predict that SiTime Corporation will post -2.44 EPS for the current year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On SiTime

A number of hedge funds have recently made changes to their positions in SITM. Los Angeles Capital Management LLC lifted its holdings in shares of SiTime by 0.3% during the 4th quarter. Los Angeles Capital Management LLC now owns 9,023 shares of the company’s stock valued at $3,187,000 after acquiring an additional 25 shares in the last quarter. Optiver Holding B.V. increased its holdings 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 purchasing an additional 32 shares in the last quarter. Atlas Brown Inc. raised its position in SiTime by 1.6% in the fourth quarter. Atlas Brown Inc. now owns 2,292 shares of the company’s stock valued at $810,000 after purchasing an additional 37 shares during the period. CWM LLC raised its position in SiTime by 4.2% in the fourth quarter. CWM LLC now owns 951 shares of the company’s stock valued at $336,000 after purchasing an additional 38 shares during the period. Finally, Corient Private Wealth LLC lifted its stake in shares of SiTime by 5.9% during the fourth quarter. Corient Private Wealth LLC now owns 703 shares of the company’s stock worth $249,000 after purchasing an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 84.31% of the company’s stock.

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.