SiTime (NASDAQ:SITM) Issues Quarterly Earnings Results

SiTime (NASDAQ:SITM) released its earnings results on Wednesday. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.14, Briefing.com reports. The firm had revenue of $57.70 million for the quarter, compared to analysts’ expectations of $55.10 million. SiTime had a negative net margin of 53.55% and a negative return on equity of 9.88%. The company’s quarterly revenue was up 62.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.81) earnings per share.

SiTime Trading Down 0.0 %

Shares of NASDAQ SITM traded down $0.06 during midday trading on Friday, hitting $225.45. The company’s stock had a trading volume of 337,459 shares, compared to its average volume of 205,572. The stock has a fifty day moving average price of $169.16 and a 200 day moving average price of $141.31. SiTime has a one year low of $72.39 and a one year high of $228.12. The firm has a market capitalization of $5.21 billion, a price-to-earnings ratio of -54.46 and a beta of 1.83.

Insider Buying and Selling

In related news, insider Samsheer Ahamad sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $172.73, for a total transaction of $690,920.00. Following the sale, the insider now owns 78,979 shares of the company’s stock, valued at approximately $13,642,042.67. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Samsheer Ahamad sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $172.73, for a total transaction of $690,920.00. Following the sale, the insider now owns 78,979 shares of the company’s stock, valued at approximately $13,642,042.67. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Fariborz Assaderaghi sold 1,083 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $139.05, for a total transaction of $150,591.15. Following the sale, the insider now directly owns 112,584 shares in the company, valued at $15,654,805.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,464 shares of company stock valued at $5,372,893. Company insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Barclays boosted their target price on shares of SiTime from $90.00 to $130.00 and gave the company an “underweight” rating in a research note on Friday. Stifel Nicolaus boosted their target price on shares of SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Needham & Company LLC boosted their target price on shares of SiTime from $140.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Roth Mkm boosted their target price on shares of SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday.

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.