SiTime Co. (NASDAQ:SITM) Insider Lionel Bonnot Sells 2,941 Shares

SiTime Co. (NASDAQ:SITM) insider Lionel Bonnot sold 2,941 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $131.18, for a total transaction of $385,800.38. Following the transaction, the insider now owns 84,106 shares of the company’s stock, valued at approximately $11,033,025.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Lionel Bonnot also recently made the following trade(s):

• On Thursday, July 13th, Lionel Bonnot sold 5,059 shares of SiTime stock. The stock was sold at an average price of $130.03, for a total transaction of $657,821.77.
• On Thursday, June 15th, Lionel Bonnot sold 772 shares of SiTime stock. The stock was sold at an average price of $120.00, for a total transaction of $92,640.00.

SiTime Trading Down 0.1 %

NASDAQ SITM opened at $130.51 on Wednesday. The company has a fifty day simple moving average of $127.10 and a 200 day simple moving average of $119.78. SiTime Co. has a 12-month low of $73.10 and a 12-month high of $142.88. The company has a market cap of $2.90 billion, a P/E ratio of -75.01 and a beta of 1.86.

SiTime (NASDAQ:SITM) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported ($1.17) earnings per share for the quarter, missing the consensus estimate of ($0.99) by ($0.18). SiTime had a negative net margin of 19.08% and a negative return on equity of 5.40%. The company had revenue of $27.73 million for the quarter, compared to the consensus estimate of $26.51 million. Sell-side analysts predict that SiTime Co. will post -3.12 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SITM. Raymond James raised their price objective on shares of SiTime from $130.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, August 3rd. Stifel Nicolaus raised their price objective on shares of SiTime from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, July 20th. Wolfe Research began coverage on shares of SiTime in a research report on Wednesday, July 19th. They set an “outperform” rating and a $160.00 price objective for the company. Finally, Barclays raised their price objective on shares of SiTime from $88.00 to $110.00 in a research report on Thursday, July 20th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $141.43.

Hedge Funds Weigh In On SiTime

Several large investors have recently bought and sold shares of SITM. Raymond James Financial Services Advisors Inc. lifted its stake in SiTime by 87.8% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 6,084 shares of the company’s stock valued at $1,508,000 after acquiring an additional 2,844 shares in the last quarter. US Bancorp DE lifted its stake in SiTime by 94.4% during the 1st quarter. US Bancorp DE now owns 933 shares of the company’s stock valued at $231,000 after acquiring an additional 453 shares in the last quarter. Private Advisor Group LLC bought a new position in SiTime during the 1st quarter valued at $290,000. PNC Financial Services Group Inc. raised its stake in shares of SiTime by 191.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,095 shares of the company’s stock worth $270,000 after purchasing an additional 719 shares during the period. Finally, Bank of Montreal Can raised its stake in shares of SiTime by 2,115.2% during the 1st quarter. Bank of Montreal Can now owns 23,370 shares of the company’s stock worth $6,100,000 after purchasing an additional 22,315 shares during the period. 84.31% of the stock is currently owned by institutional investors.

About SiTime

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.