Torsten Kreindl Sells 710 Shares of SiTime (NASDAQ:SITM) Stock

SiTime Corporation (NASDAQ:SITM) Director Torsten Kreindl sold 710 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $720.00, for a total transaction of $511,200.00. Following the sale, the director directly owned 13,141 shares in the company, valued at $9,461,520. The trade was a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

SiTime Price Performance

SITM opened at $728.56 on Friday. SiTime Corporation has a fifty-two week low of $186.49 and a fifty-two week high of $901.81. The firm has a market capitalization of $19.23 billion, a price-to-earnings ratio of -721.35 and a beta of 2.91. The company’s 50 day moving average price is $510.07 and its two-hundred day moving average price is $408.52.

SiTime (NASDAQ:SITM) last posted its earnings results on Wednesday, May 6th. The company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.30. SiTime had a negative net margin of 6.38% and a positive return on equity of 0.53%. The firm had revenue of $113.57 million for the quarter, compared to analyst estimates of $103.51 million. During the same period in the previous year, the firm posted $0.26 EPS. The company’s revenue for the quarter was up 88.3% compared to the same quarter last year. As a group, equities research analysts predict that SiTime Corporation will post 3.23 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in shares of SiTime by 21.2% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 44,363 shares of the company’s stock valued at $13,367,000 after purchasing an additional 7,772 shares in the last quarter. Emerald Mutual Fund Advisers Trust increased its position in shares of SiTime by 10.6% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 98,689 shares of the company’s stock valued at $29,736,000 after acquiring an additional 9,492 shares during the last quarter. Federated Hermes Inc. increased its position in shares of SiTime by 25.0% during the third quarter. Federated Hermes Inc. now owns 125,000 shares of the company’s stock valued at $37,664,000 after acquiring an additional 25,000 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in shares of SiTime by 145.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 12,215 shares of the company’s stock worth $3,681,000 after purchasing an additional 7,247 shares during the period. Finally, Cibc World Market Inc. bought a new stake in shares of SiTime during the 3rd quarter worth $2,259,000. Institutional investors and hedge funds own 84.31% of the company’s stock.

Analyst Upgrades and Downgrades

SITM has been the topic of a number of research reports. Roth Mkm reissued a “buy” rating and set a $900.00 target price on shares of SiTime in a report on Thursday, May 7th. Stifel Nicolaus upped their price objective on shares of SiTime from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. UBS Group upped their price objective on shares of SiTime from $675.00 to $775.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Wall Street Zen raised shares of SiTime from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $800.00 price objective on shares of SiTime in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $661.88.

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.