Samsheer Ahamad Sells 4,000 Shares of SiTime Co. (NASDAQ:SITM) Stock

SiTime Co. (NASDAQ:SITM) insider Samsheer Ahamad sold 4,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $172.73, for a total transaction of $690,920.00. Following the transaction, the insider now owns 78,979 shares in the company, valued at approximately $13,642,042.67. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

SiTime Trading Up 3.1 %

Shares of SITM traded up $5.35 during mid-day trading on Tuesday, reaching $177.16. 233,273 shares of the stock traded hands, compared to its average volume of 203,163. SiTime Co. has a 1 year low of $72.39 and a 1 year high of $188.98. The company has a market cap of $4.10 billion, a price-to-earnings ratio of -41.59 and a beta of 1.83. The firm has a fifty day moving average price of $164.27 and a 200 day moving average price of $138.58.

SiTime (NASDAQ:SITM) last issued 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 for the quarter, compared to analysts’ expectations of $41.01 million. SiTime had a negative net margin of 60.46% and a negative return on equity of 10.53%. The business’s quarterly revenue was up 58.5% on a year-over-year basis. During the same period last year, the business earned ($1.17) earnings per share. On average, sell-side analysts anticipate that SiTime Co. will post -3.03 EPS for the current year.

Institutional Trading of SiTime

Hedge funds have recently modified their holdings of the business. Driehaus Capital Management LLC bought a new position in shares of SiTime in the second quarter worth approximately $16,831,000. Vanguard Group Inc. lifted its holdings in SiTime by 4.1% during the first quarter. Vanguard Group Inc. now owns 2,203,286 shares of the company’s stock valued at $205,412,000 after purchasing an additional 85,800 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in SiTime by 62.0% in 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 period. F M Investments LLC purchased a new position in SiTime in the 2nd quarter worth approximately $8,909,000. Finally, Principal Financial Group Inc. boosted its position in shares of SiTime by 15.4% during the third quarter. Principal Financial Group Inc. now owns 448,930 shares of the company’s stock worth $76,996,000 after acquiring an additional 59,931 shares during the last quarter. Institutional investors own 84.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Stifel Nicolaus upped their target price on SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Barclays downgraded SiTime from an “equal weight” rating to an “underweight” rating and set a $90.00 price objective for the company. in a research note on Tuesday, August 27th.

SiTime Company Profile

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.