SiTime (NASDAQ:SITM) Announces Quarterly Earnings Results, Beats Expectations By $0.07 EPS

SiTime (NASDAQ:SITM) released its earnings results on Tuesday. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.07, MarketWatch Earnings reports. The firm had revenue of $35.54 million during the quarter, compared to analysts’ expectations of $33.00 million. The business’s revenue was down 11.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.42 EPS.

Shares of SITM traded down $4.54 during trading hours on Tuesday, reaching $85.98. The company’s stock had a trading volume of 271,319 shares, compared to its average volume of 225,134. The company has a 50 day moving average of $100.24 and a two-hundred day moving average of $106.66. SiTime has a 1-year low of $22.04 and a 1-year high of $151.78. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of -124.61 and a beta of 0.75.

In other SiTime news, CEO Rajesh Vashist sold 3,000 shares of SiTime stock in a transaction on Wednesday, April 21st. The stock was sold at an average price of $92.13, for a total value of $276,390.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Arthur D. Chadwick sold 2,450 shares of the company’s stock in a transaction dated Monday, February 22nd. The stock was sold at an average price of $113.61, for a total transaction of $278,344.50. Following the transaction, the chief financial officer now owns 99,227 shares in the company, valued at approximately $11,273,179.47. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,988 shares of company stock worth $1,647,683. Insiders own 0.80% of the company’s stock.

Several research analysts have recently weighed in on SITM shares. Roth Capital boosted their target price on SiTime from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, February 4th. Raymond James upped their price objective on shares of SiTime from $110.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, February 4th. Needham & Company LLC increased their price objective on shares of SiTime from $105.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, February 4th. Barclays increased their target price on shares of SiTime from $100.00 to $150.00 and gave the stock an “overweight” rating in a report on Tuesday, January 26th. They noted that the move was a valuation call. Finally, Zacks Investment Research cut shares of SiTime from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 21st. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. SiTime has an average rating of “Buy” and a consensus target price of $124.67.

About SiTime

SiTime Corporation provides silicon timing systems in Taiwan, Hong Kong, the United States, and internationally. It provides resonators and clock integrated circuits, and various types of oscillators. The company's solutions are used in various markets, including enterprise and telecommunications infrastructure, automotive, industrial, Internet of Things, mobile, and aerospace and defense.

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Earnings History for SiTime (NASDAQ:SITM)

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