SiTime Co. (NASDAQ:SITM) Insider Vincent P. Pangrazio Sells 3,064 Shares of Stock

SiTime Co. (NASDAQ:SITM) insider Vincent P. Pangrazio sold 3,064 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $255.00, for a total transaction of $781,320.00. Following the transaction, the insider now owns 65,978 shares of the company’s stock, valued at $16,824,390. The trade was a 4.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

SiTime Price Performance

NASDAQ SITM traded down $5.51 during trading on Monday, reaching $247.11. 273,132 shares of the company’s stock were exchanged, compared to its average volume of 205,972. The business has a 50 day moving average price of $201.30 and a 200-day moving average price of $161.14. The stock has a market capitalization of $5.77 billion, a P/E ratio of -58.96 and a beta of 1.86. SiTime Co. has a fifty-two week low of $72.39 and a fifty-two week high of $268.18.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SITM shares. Barclays increased their price objective on shares of SiTime from $90.00 to $130.00 and gave the stock an “underweight” rating in a research note on Friday, November 8th. Roth Mkm increased their price target on SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC boosted their price target on SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Stifel Nicolaus increased their price objective on SiTime from $175.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 17th.

Institutional Trading of SiTime

Hedge funds have recently modified their holdings of the stock. Signaturefd LLC raised its holdings in SiTime by 67.4% in the 3rd quarter. Signaturefd LLC now owns 149 shares of the company’s stock valued at $26,000 after acquiring an additional 60 shares during the period. Nisa Investment Advisors LLC increased 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 purchasing an additional 88 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in SiTime during the 2nd quarter worth approximately $49,000. Van ECK Associates Corp bought a new stake in SiTime in the 3rd quarter valued at $123,000. Finally, nVerses Capital LLC acquired a new position in SiTime in the 2nd quarter valued at $124,000. Institutional investors and hedge funds 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.