SiTime (NASDAQ:SITM) Insider Sells 1,249 Shares

SiTime Corporation (NASDAQ:SITM) insider Piyush Sevalia sold 1,249 shares of the business’s stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $375.00, for a total transaction of $468,375.00. Following the completion of the transaction, the insider directly owned 87,916 shares in the company, valued at $32,968,500. This represents a 1.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

SiTime Stock Performance

SITM stock opened at $327.20 on Friday. The stock has a market capitalization of $8.61 billion, a PE ratio of -179.78 and a beta of 2.53. The company has a fifty day moving average of $374.88 and a 200-day moving average of $334.73. SiTime Corporation has a one year low of $105.40 and a one year high of $446.95.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Raymond James Financial reissued an “outperform” rating on shares of SiTime in a research note on Tuesday, December 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of SiTime in a research note on Thursday, January 22nd. Barclays set a $400.00 price objective on SiTime in a report on Thursday, February 5th. Needham & Company LLC raised their target price on SiTime from $400.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Finally, UBS Group boosted their target price on shares of SiTime from $430.00 to $485.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $409.38.

Hedge Funds Weigh In On SiTime

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rakuten Securities Inc. increased its stake 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 purchasing an additional 49 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in SiTime by 190.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 90 shares of the company’s stock valued at $27,000 after buying an additional 59 shares in the last quarter. Optiver Holding B.V. lifted its stake in SiTime by 56.1% in the 3rd quarter. Optiver Holding B.V. now owns 89 shares of the company’s stock valued at $27,000 after buying an additional 32 shares in the last quarter. Larson Financial Group LLC grew its holdings in SiTime by 3,200.0% during the 3rd quarter. Larson Financial Group LLC now owns 99 shares of the company’s stock valued at $30,000 after buying an additional 96 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in SiTime during the fourth quarter worth $33,000. Institutional investors and hedge funds own 84.31% of the company’s stock.

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.