SiTime Co. (NASDAQ:SITM) Insider Sells $129,120.00 in Stock

SiTime Co. (NASDAQ:SITM) insider Piyush B. Sevalia sold 807 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $160.00, for a total value of $129,120.00. Following the completion of the transaction, the insider now directly owns 87,534 shares in the company, valued at approximately $14,005,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

SiTime Price Performance

Shares of NASDAQ SITM opened at $163.57 on Friday. The business has a fifty day moving average price of $140.48 and a two-hundred day moving average price of $119.05. The stock has a market capitalization of $3.78 billion, a PE ratio of -39.61 and a beta of 1.82. SiTime Co. has a fifty-two week low of $72.39 and a fifty-two week high of $170.71.

SiTime (NASDAQ:SITM) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.08. The business had revenue of $43.90 million during the quarter, compared to the consensus estimate of $41.01 million. SiTime had a negative return on equity of 10.53% and a negative net margin of 60.46%. SiTime’s revenue for the quarter was up 58.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.17) earnings per share. On average, equities analysts expect that SiTime Co. will post -3.03 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SITM shares. Stifel Nicolaus upped their price objective on SiTime from $150.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Barclays downgraded shares of SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 price target on the stock. in a research note on Tuesday, August 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $130.00 price target on shares of SiTime in a research report on Tuesday, June 25th.

Institutional Trading of SiTime

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in SiTime by 4.1% in the first quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock valued at $205,412,000 after acquiring an additional 85,800 shares during the last quarter. Wasatch Advisors LP increased its stake in shares of SiTime by 2.9% in the 4th quarter. Wasatch Advisors LP now owns 892,102 shares of the company’s stock valued at $108,908,000 after purchasing an additional 25,324 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of SiTime by 15.2% in the 2nd quarter. Principal Financial Group Inc. now owns 388,999 shares of the company’s stock valued at $48,384,000 after purchasing an additional 51,407 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of SiTime by 16.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 246,637 shares of the company’s stock worth $30,112,000 after buying an additional 35,491 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its position in shares of SiTime by 62.0% during the 2nd quarter. William Blair Investment Management LLC now owns 208,098 shares of the company’s stock worth $25,883,000 after buying an additional 79,648 shares during the last quarter. Institutional investors own 84.31% of the company’s stock.

About SiTime

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.