Akira Takata Sells 3,500 Shares of SiTime (NASDAQ:SITM) Stock

SiTime Corporation (NASDAQ:SITM) Director Akira Takata sold 3,500 shares of the firm’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $431.73, for a total value of $1,511,055.00. Following the transaction, the director directly owned 13,734 shares of the company’s stock, valued at $5,929,379.82. This represents a 20.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

SiTime Price Performance

Shares of SITM opened at $436.28 on Thursday. The firm’s 50 day moving average is $366.20 and its 200-day moving average is $301.03. SiTime Corporation has a 12-month low of $105.40 and a 12-month high of $440.00. The stock has a market capitalization of $11.39 billion, a P/E ratio of -239.71 and a beta of 2.51.

SiTime (NASDAQ:SITM) last issued its earnings results on Wednesday, February 4th. The company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.33. The firm had revenue of $113.29 million during the quarter, compared to analysts’ expectations of $101.91 million. SiTime had a negative net margin of 13.13% and a negative return on equity of 2.06%. The firm’s revenue for the quarter was up 66.3% compared to the same quarter last year. During the same period last year, the firm posted $0.48 earnings per share. As a group, equities research analysts forecast that SiTime Corporation will post -2.44 EPS for the current fiscal year.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Rakuten Securities Inc. boosted its holdings in shares of SiTime by 188.5% during the 4th quarter. Rakuten Securities Inc. now owns 75 shares of the company’s stock worth $26,000 after buying an additional 49 shares during the period. Optiver Holding B.V. lifted its position in SiTime by 56.1% during the 3rd quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock worth $27,000 after acquiring an additional 32 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in SiTime by 190.3% during the third quarter. Hantz Financial Services Inc. now owns 90 shares of the company’s stock valued at $27,000 after acquiring an additional 59 shares during the period. Larson Financial Group LLC grew its position in shares of SiTime by 3,200.0% in the third quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock valued at $30,000 after purchasing an additional 96 shares during the last quarter. Finally, Danske Bank A S acquired a new stake in shares of SiTime in the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 84.31% of the company’s stock.

About SiTime

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.