Piyush B. Sevalia Sells 1,242 Shares of SiTime Co. (NASDAQ:SITM) Stock

SiTime Co. (NASDAQ:SITMGet Free Report) EVP Piyush B. Sevalia sold 1,242 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $125.36, for a total transaction of $155,697.12. Following the completion of the transaction, the executive vice president now directly owns 90,451 shares in the company, valued at approximately $11,338,937.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

SiTime Stock Performance

SITM stock opened at $121.82 on Friday. The company’s 50 day moving average price is $99.68 and its 200 day moving average price is $106.62. SiTime Co. has a fifty-two week low of $72.39 and a fifty-two week high of $141.99. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of -29.50 and a beta of 1.78.

SiTime (NASDAQ:SITMGet Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.17). The business had revenue of $33.02 million during the quarter, compared to analyst estimates of $32.02 million. SiTime had a negative net margin of 66.88% and a negative return on equity of 11.29%. Equities analysts forecast that SiTime Co. will post -2.66 EPS for the current fiscal year.

Institutional Investors Weigh In On SiTime

Several large investors have recently modified their holdings of the company. FMR LLC boosted its holdings in shares of SiTime by 7.5% in the third quarter. FMR LLC now owns 3,054,878 shares of the company’s stock valued at $349,020,000 after acquiring an additional 212,615 shares during the period. Vanguard Group Inc. lifted its holdings in shares of SiTime by 4.1% during the first quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock worth $205,412,000 after purchasing an additional 85,800 shares during the period. Wasatch Advisors LP lifted its holdings in shares of SiTime by 2.9% during the fourth quarter. Wasatch Advisors LP now owns 892,102 shares of the company’s stock worth $108,908,000 after purchasing an additional 25,324 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of SiTime by 8.2% during the third quarter. Ameriprise Financial Inc. now owns 613,583 shares of the company’s stock worth $70,102,000 after purchasing an additional 46,672 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of SiTime by 0.5% during the fourth quarter. Principal Financial Group Inc. now owns 359,929 shares of the company’s stock worth $43,940,000 after purchasing an additional 1,912 shares during the period. 84.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC raised shares of SiTime from a “hold” rating to a “buy” rating and set a $130.00 target price on the stock in a research report on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, SiTime presently has an average rating of “Moderate Buy” and an average price target of $140.00.

Read Our Latest Analysis on SITM

About SiTime

(Get Free Report)

SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, Singapore, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. It serves various markets, including communications, datacenter, 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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