SiTime Co. (NASDAQ:SITM) Director Sells $296,670.00 in Stock

SiTime Co. (NASDAQ:SITMGet Rating) Director Katherine Schuelke sold 3,000 shares of SiTime stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $98.89, for a total transaction of $296,670.00. Following the completion of the transaction, the director now owns 17,916 shares of the company’s stock, valued at approximately $1,771,713.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

SiTime Price Performance

Shares of SiTime stock opened at $101.53 on Friday. The firm’s fifty day simple moving average is $88.20 and its 200-day simple moving average is $134.56. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 50.77, a PEG ratio of 6.52 and a beta of 1.90. SiTime Co. has a 12 month low of $73.10 and a 12 month high of $341.77.

SiTime (NASDAQ:SITMGet Rating) last announced its earnings results on Wednesday, November 2nd. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.02). The business had revenue of $73.10 million during the quarter, compared to analyst estimates of $73.03 million. SiTime had a net margin of 14.95% and a return on equity of 6.71%. Analysts anticipate that SiTime Co. will post 1.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SITM shares. Credit Suisse Group started coverage on shares of SiTime in a research note on Tuesday, November 15th. They issued an “outperform” rating and a $135.00 price target for the company. Barclays cut their price objective on shares of SiTime from $130.00 to $96.00 and set an “overweight” rating on the stock in a report on Thursday, November 3rd. TheStreet raised shares of SiTime from a “d+” rating to a “c” rating in a report on Monday. Needham & Company LLC cut their price objective on shares of SiTime from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, November 3rd. Finally, Raymond James cut their price objective on shares of SiTime from $240.00 to $120.00 and set an “outperform” rating on the stock in a report on Thursday, November 3rd. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $116.50.

Hedge Funds Weigh In On SiTime

Institutional investors have recently modified their holdings of the business. Meeder Asset Management Inc. acquired a new position in shares of SiTime in the 1st quarter valued at $41,000. Amundi acquired a new position in SiTime in the 2nd quarter valued at $47,000. Nisa Investment Advisors LLC acquired a new position in SiTime in the 1st quarter valued at $78,000. CWM LLC increased its stake in SiTime by 517.6% in the 3rd quarter. CWM LLC now owns 315 shares of the company’s stock valued at $25,000 after buying an additional 264 shares during the period. Finally, Cutler Group LLC CA increased its stake in SiTime by 172.4% in the 3rd quarter. Cutler Group LLC CA now owns 362 shares of the company’s stock valued at $28,000 after buying an additional 862 shares during the period. 72.84% of the stock is owned by institutional investors and hedge funds.

About SiTime

(Get Rating)

SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. Its solutions have applications in various markets, including communications and enterprise, automotive, industrial, Internet of Things, mobile, consumer, and aerospace and defense.

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Insider Buying and Selling by Quarter for SiTime (NASDAQ:SITM)

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