Insider Selling: SiTime Co. (NASDAQ:SITM) Director Sells 500 Shares of Stock

SiTime Co. (NASDAQ:SITM) Director Raman Chitkara sold 500 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $265.00, for a total value of $132,500.00. Following the completion of the sale, the director now owns 20,719 shares in the company, valued at approximately $5,490,535. This represents a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

SiTime Stock Performance

SiTime stock traded down $5.51 on Monday, reaching $247.11. The company’s stock had a trading volume of 273,132 shares, compared to its average volume of 205,972. SiTime Co. has a twelve month low of $72.39 and a twelve month high of $268.18. The business’s fifty day moving average price is $201.30 and its 200 day moving average price is $161.14. The company has a market cap of $5.77 billion, a price-to-earnings ratio of -58.96 and a beta of 1.86.

SiTime (NASDAQ:SITM) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.14. The firm had revenue of $57.70 million for the quarter, compared to the consensus estimate of $55.10 million. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. The business’s revenue for the quarter was up 62.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.81) EPS. As a group, equities analysts forecast that SiTime Co. will post -2.98 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently commented on SITM. Roth Mkm boosted their price target on SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. 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 increased their target price on shares of SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Barclays boosted their price target on shares of SiTime from $90.00 to $130.00 and gave the company an “underweight” rating in a research report on Friday, November 8th.

Hedge Funds Weigh In On SiTime

Several hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC raised its holdings in SiTime by 67.4% during the 3rd quarter. Signaturefd LLC now owns 149 shares of the company’s stock worth $26,000 after purchasing an additional 60 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of SiTime by 59.5% during the second quarter. Nisa Investment Advisors LLC now owns 236 shares of the company’s stock worth $29,000 after buying an additional 88 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in SiTime in the second quarter valued at approximately $49,000. Van ECK Associates Corp bought a new position in SiTime in the third quarter valued at approximately $123,000. Finally, nVerses Capital LLC acquired a new stake in SiTime during the 2nd quarter worth $124,000. Institutional investors own 84.31% of the company’s stock.

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.